In 1984, when Karan left Anne Klein to establish her own label, Stern came with her as president of The Donna Karan Co., even before the first line was shown. At that time, Karan was named chief executive officer, and before that had been jointly designing Anne Klein with Louis Dell’Olio. The Donna Karan Co. was financed by Takihyo Co., a Japanese textile and apparel firm whose chairman was Tomio Taki, which was the majority owner of Anne Klein & Co.
Stephen Ruzow, former president and chief operating officer of Donna Karan International, recalled that Stern was running the women’s collection business as president when he got there in 1989. Asked how Karan and Stern worked together, Ruzow recalled that Stern would ask: “Why do we need 40 shades of red cashmere, wouldn’t six be enough?”
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