NEW YORK & PARIS — G-III Apparel Group, based in New York, has taken a 19% minority stake in the parent company of Karl Lagerfeld, a maker of clothing and accessories for men and women. This investment will strengthen the partnership between G-III and the Karl Lagerfeld brand and extend their business development opportunities on a global scale. Additional terms of the deal were not disclosed.
This investment is in addition to G-III’s ownership of a 49% interest in the North American joint venture that holds rights to the Karl Lagerfeld trademarks for consumer products (with certain exceptions) and apparel in the United States, Canada and Mexico. G-III is also the licensee of the joint venture for Karl Lagerfeld women’s apparel, women’s handbags and men’s outerwear.
Morris Goldfarb, G-III’s Chairman, Chief Executive Officer and President, said, “We are very pleased to increase our strategic and financial commitment in Karl Lagerfeld, a true iconic fashion brand. We are proud to have been able to acquire these opportunities as a result of our market knowledge, category expertise and strong operational platform. Now, with our expanded partnership in Karl Lagerfeld, we look forward to helping chart its course forward and captivating a generation of new consumers around the world.”
Pier Paolo Righi, Chief Executive Officer and President of Karl Lagerfeld B.V., said, “We are very excited to bring our partnership with G-III to the next level. The alliance with this industry leader will substantially enhance our ability to pursue many important strategic opportunities and further propel the brand and business. This is another major milestone for our company.”
G-III is a leading manufacturer and distributor of clothing under its own Andrew Marc and Marc New York brands, and has licensed these brands to select third parties in certain product categories. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Jones New York, Jessica Simpson, Vince Camuto, Ivanka Trump, Ellen Tracy, Kensie, Levi’s and Dockers brands. Through its team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Touch by Alyssa Milano and more than 100 U.S. colleges and universities. Other owned brands include Bass, G.H. Bass, G-III Sports by Carl Banks, Eliza J, Black Rivet and Jessica Howard. G-III also operates retail stores under the Wilsons Leather, Bass, G.H. Bass & Co., Vilebrequin and Calvin Klein Performance names.