I like it! They stated in many articles that they are not interested in teenagers. They wants to dress women and not girls.
With the mainline not existing, they have to blend the two identities in a way. I like the references to Donna Karan (the power suit, the strong focus in tailoring, the 80's campaigns pictures printed on the coats) with the mix of the more casual vibe of DKNY.
They will need to have more fun and to play with colors and textures for the brand to not be Public School bis.