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G-III Apparel to acquire remaining stake in Karl Lagerfeld

G-III Apparel is to acquire the remaining 81% interest in Karl Lagerfeld for €200 million to make it the sole owner of the fashion brand. The… View Article

FASHION RETAIL NEWS UK

G-III Apparel to acquire remaining stake in Karl Lagerfeld

G-III Apparel is to acquire the remaining 81% interest in Karl Lagerfeld for €200 million to make it the sole owner of the fashion brand.

The company will purchase the additional stake from a group of private and public investors led by Fred Gehring of Amlon Capital BV.

Morris Goldfarb, G-III’s chairman and chief executive, said, “This transaction marks yet another significant milestone for G-III. Since acquiring a stake in the brand in 2015, G-III has built Karl Lagerfeld into an important and rapidly growing part of our North American business.

“Fully owning this visionary brand is a continuation of our successful partnership with the Karl Lagerfeld management team. Importantly, the addition of this iconic fashion brand to the G-III portfolio advances several of our key priorities, namely an increase in the direct ownership of brands and their licensing opportunities and further diversification of our global presence.”

Karl Lagerfeld’s  digital and retail presence includes approximately 120 mono-brand company and partner-operated stores, many of which are in key locations in places like Paris, London, Berlin, Dubai and Shanghai. It also has an extensive wholesale distribution network in the US, Europe, Middle East and Asia.

The brand’s near-term expansion strategy focuses on international growth through both owned and partner-operated channels spanning digital, retail, wholesale, new product categories, and increased licensing opportunities.

Following completion of the transaction, Karl Lagerfeld’s existing management team will continue to lead the business.

Pier Paolo Righi, chief executive of Karl Lagerfeld, said: “Morris and the G-III team have been part of our family since we joined forces in 2015 to bring the Lagerfeld name to North America. Since then, we have worked together to further grow the brand’s footprint. This transaction is the natural evolution of this positive working relationship. Working even more closely with a team we know, trust and have a proven track record with, will allow us to further accelerate the brand’s global opportunity.”

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