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One of the most important designers in the history of American fashion, Donna Karan, is stepping down as chief designer of Donna Karan International. Karan, 66, plans to devote greater time to her Urban Zen company and foundation, but will remain a close adviser to DKI under a long-term agreement, according to the company. The designer created a modern system of dressing for legions of successful women, while establishing a tremendous rapport with her customers, which continues to this day. Karan cofounded DKI with her late husband Stephan Weiss and Takiyho Inc. in 1984. In 1996, DKI went public on the New York Stock Exchange, and in 2001, LVMH Moët Hennessey Louis Vuitton paid $243 million for all outstanding shares in DKI, plus $400 million for Gabrielle Studio Inc., the licensor of the Donna Karan trademarks. “LVMH and I have made this decision after much soul-searching,” said Karan on Tuesday. “I have arrived at a point in my life where I need to spend more time
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