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Donna Karan rumored to step down from DKNY

Donna Karan’s emotional appearance at her 30th anniversary Fashion Week presentation sparked speculation that the iconic designer might step down from her eponymous company.

We’re hearing that Karan, 65, could be prepping her departure and that last Monday’s triumphant show — with Katie Holmes, Rita Ora, Bernadette Peters, Trudie Styler and Deborah Lee-Furness sitting in the front row — may have been be her swan song.

She appeared tearful as she came out to take her bow at the end.

Karan, who started as an assistant to Anne Klein, launched Donna Karan in 1985 with her late husband Stephan Weiss, and became a New York icon thanks to her feminine and wearable style. Karan later added her DKNY line for a younger audience.

LVMH bought the company in 2001.

A rep for the brand denied Karan’s departure, telling us: “Donna is the chief designer of the company. Anything else should be considered a rumor.”

Karan has said her latest collection was dedicated to New York — its motion, architecture and gleaming lights.