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Jeans Licensing Deal, New CEO slowly patch Karan |
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It’s official. Last week, Donna Karan International Inc. signed its 15-year jeanswear pact with Liz Claiborne Inc. But analysts say they don’t expect the stock, now trading at about $12 a share, to move much. Messrs. Leeds and Loeb, while neutral now, are recommending the long-term value of the stock, largely because of Mr. Idol’s savvy. The veteran apparel executive, who was previously at Ralph Lauren, has a number of sound licensing pacts in the works, including a partner to produce Karan’s menswear and home furnishings. “His main strength is licenses,” says Terre Simpson of the Manhattan executive recruiting firm Simpson Associates. “That’s going to contribute directly to Karan’s bottom-line growth.” |
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