========================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
--------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
-------------
MARCH 5, 1997
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)
DESIGNER HOLDINGS LTD.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
DELAWARE 1-11707 13-3818542
(STATE OR OTHER (COMMISSION FILE (I.R.S. EMPLOYER
JURISDICTION NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
1385 BROADWAY, THIRD FLOOR
NEW YORK, NEW YORK 10018
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(212) 556-9600
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
N/A
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
-----------------
========================================================================
ITEM 5. OTHER EVENTS.
On September 27, 1996, Designer Holdings Ltd. (the
"Company") entered into a 30-year licensing agreement (the
"License Agreement") with a subsidiary of Donna Karan
International Inc. ("Donna Karan International") for the
exclusive production, sale and distribution of mens, womens
and, with certain exceptions, childrens jeanswear under the
DKNY Jeans label.
On March 5, 1997, the Company announced that the
License Agreement with Donna Karan International had been
terminated by mutual agreement. Donna Karan International
will return all monies paid in connection with the License
Agreement, including the initial $6 million payment and
$1.26 million prepaid royalty. In addition, in order to
assure a smooth transition for the DKNY Jeanswear business,
Donna Karan International will purchase sales plans,
patterns, samples, fabrics and other materials developed in
connection with the DKNY Jeanswear business for an amount
that will allow the Company to cover all its expenditures
related to the License Agreement.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
Exhibit No.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned
hereunto duly authorized.
DESIGNER HOLDINGS LTD.
By: /s/ John J. Jones
-------------------------------
Name: John J. Jones
Title: Vice President, Secretary
and General Counsel
Date: March 12 , 1997
