G-III Apparel Group to acquire Sonia Rykiel
G-III Apparel Group has entered an agreement to acquire the Sonia Rykiel luxury fashion brand.
In a statement, the company said it plans to accelerate the relaunch of Sonia Rykiel, primarily in Europe, through collections across multiple categories this autumn.
The transaction is expected to close by the end of October.
Morris Goldfarb, G-III’s chairman and chief executive, said: “We are extremely pleased to purchase the Sonia Rykiel brand which further enables us to expand into the luxury space. We believe there is significant opportunity to unlock the untapped potential of this brand as we look to accelerate our global reach. We will leverage the existing executive management team and infrastructure based in Europe, as well as G-III’s supply chain expertise to scale and grow the Sonia Rykiel business across apparel, accessories and numerous other lifestyle categories.”
G-III’s portfolio of more than 30 licensed and proprietary brands is anchored by DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld Paris.
Eric and Michael Dayan, Sonia Rykiel’s current owners, added: “We are proud to have been a part of this brand which has a deep French heritage and to be the drivers behind its relaunch. We are thrilled to have found G-III, a true apparel and accessory powerhouse with a strong portfolio of globally recognised brands, as the new owners and stewards of the Sonia Rykiel brand.”
