It's true! French conglomerate LMVH announced that it is selling Donna Karan International, Inc. to G-III Apparel Group, an American manufacturing and licensing company for $650 million. The sale is expected to close in late 2016 or early 2017. LMVH, which owns luxury brands Louis Vuitton, Fendi, Céline, and Givenchy, will now own only one American…