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G-III Apparel Group

G-III Apparel Group is an American clothing company that designs, manufactures, markets, and sells women's and men's apparel with a global portfolio of licensed, owned, and private label brands, including DKNY,[5] Donna Karan, Karl Lagerfeld, Calvin Klein, Tommy Hilfiger, Vilebrequin, Nautica, Halston, G.H. Bass, Levi's, Champion, Major League Baseball, National Basketball Association, National Football League, and National Hockey League.

History

Early history

The company was founded in New York's Garment District in 1956 by Aron Goldfarb, a Polish-born Holocaust survivor.[6] In 1972 Goldfarb's son, Morris, joined the company, which was then known as G&N Sportswear[7] and specialized in leather outwear.[8] Morris immediately helped the company diversify and expand its sourcing.[9]

In 1974 the company was reorganized as G-III Leather Fashions, Inc.[10] In 1981, G-III launched its Siena Leather division, which offered more fashionable women's leather apparel.[11] In 1986 the company was generating revenues of $20 million,[12] and by 1988 G-III was one of the largest importers and wholesalers of leather clothing in the United States.[13]

In 1988 G-III partnered with football player Carl Banks and reached a licensing deal with the National Football League to design and manufacture leather team jackets.[14]

Public offering and expansion (1989-2004)

In 1989 G-III's revenues were nearly $100 million[15] and the company operated a branch office in Asia.[16] That same year, G-III became a publicly traded company, listed as G-III Apparel Group, Ltd.[17]

In 1993, G-III extended its licensing deal with the National Football League.[18] Over the next several years, G-III reached similar deals with NASCAR,[19] Major League Baseball, National Hockey League, National Basketball Association, and major colleges.[20]

In 1995 G-III reached a licensing agreement with Kenneth Cole to produce and market outerwear.[21] This agreement was followed by similar licensing arrangements[22] with other brands.[23]

In 2002 Morris Goldfarb's son, Jeffrey Goldfarb, joined the company.[24]

Acquisitions and further growth (2005-present)

G-III completed a series of acquisitions and licensing deals in the mid-2000s that added prominent brands to the company's portfolio while expanding production capabilities.[25] In 2005 G-III acquired two privately held outerwear businesses,[26] Marvin Richards and Winlit, that held licenses for apparel produced under different brand names, including Calvin Klein and Tommy Hilfiger.[27] The company then began to diversify its offerings beyond outerwear and into new apparel categories like women's dresses, sportswear, and performance wear.[25] In 2007, the company acquired the Jessica Howard and Eliza J brands.[28]

In 2008, G-III acquired assets from retail outlet chain Wilsons Leather.[29] These assets included 116 outlet stores, online retail operations, and a distribution center, and the deal marked the company's first large-scale venture into retail.[30] That same year, G-III acquired the company Andrew Marc.[31]

Further acquisitions in the 2010s[32] and 2020s[33] increased G-III’s portfolio of owned brands and allowed the company to expand globally while increasing its direct-to-consumer distribution channels.[34]

In 2012 G-III acquired the luxury swimwear brand Vilebrequin,[35] which became the first international owned brand in G-III's portfolio.[36] The following year it acquired footwear brand G.H. Bass.[37] In 2015, G-III entered into a joint venture with another luxury brand, Karl Lagerfeld, to create and launch the Karl Lagerfeld Paris label in North America.[38] The company acquired Donna Karan International, the parent company of Donna Karan and DKNY, in 2016.[39]

G-III acquired French fashion brand Sonia Rykiel in 2021.[40]

In 2022, G-III acquired the remaining stake in Karl Lagerfeld.[41]

In 2023, the company announced licensing deals to design, manufacture, and distribute Nautica[42] and Halston.[43]

Operations

The company designs,[44] sources,[45] manufactures,[44] markets,[21] and sells[46] women's and men's clothing, outerwear, hats, jewelry, and other accessories under licensed, owned, and private label brands.[47] The company also licenses its owned brands for other products[48] and partnerships.[49]

G-III is headquartered in New York and has international offices in Canada, China, Italy, Paris, the Netherlands, and Switzerland.[50] G-III distributes its products through freestanding stores and shops along with international digital channels.[51] The company also sources and manufactures products with global partners.[52]

Morris Goldfarb is the chief executive officer of G-III.[53]

Brands

G-III owns and licenses more than 30 global fashion brands,[54] and maintains licensing agreements with major U.S. sports leagues and more than 150 U.S. colleges and universities.[54][55]

Some of the company's brand ownership and licensing relationships are summarized below:

Welfare concerns

Some of G-III's factories, producing brands such as Andrew Marc and Ivanka Trump, have been accused of flouting serious animal or human welfare principles.[81][82][83] An audit by the Fair Labor Association of a G-III contracted Chinese factory in October 2016, found excessive overtime which violated Chinese law, low wages, and workspace safety concerns.[84] A 2017 report by the Guardian on a contracted factory in Indonesia found extremely low wages and unpaid overtime.[85]

See also

External links

References

  1. G-III names former PVH exec as chief growth and operations officer, reports flat sales Fashion Dive, retrieved 2023-12-20^
  2. LEADERSHIP TEAM G-III, retrieved 2019-09-21^
  3. G-III Apparel 10-K for year ending January 31, 2023 www.sec.gov, retrieved 2023-08-24^
  4. G-III Apparel Group Fortune, retrieved 2019-09-21^
  5. Goldfarb Family Brings DKNY Back to New York The Forward, 2016, retrieved 2019-09-20^
  6. Arthur Friedman. Aron Goldfarb, G-III Founder, Dead at 88 Women's Wear Daily, Fairchild Media, October 12, 2012, retrieved March 27, 2023^
  7. Vicki M Young. Highlights From G-III Apparel Group's History Women's Wear Daily, June 6, 2023, retrieved November 3, 2023^
  8. Jay P. Pederson, Thomas Derdak. International Directory of Company Histories St. James Press, 1998, retrieved April 21, 2023^
  9. Robert Abbott. A Growing Gap Between Earnings, Share Price at G-III Yahoo News, August 23, 2016, retrieved April 19, 2023^
  10. Jay P. Pederson, Thomas Derdak. International Directory of Company Histories St. James Press, 1998, retrieved April 21, 2023^
  11. Jay P. Pederson, Thomas Derdak. International Directory of Company Histories St. James Press, 1998, retrieved April 21, 2023^
  12. Skinned Forbes, January 22, 2001, retrieved March 27, 2023^
  13. Jay P. Pederson, Thomas Derdak. International Directory of Company Histories St. James Press, 1998, retrieved April 21, 2023^
  14. Joe Brescia. Trading Uniform For a Clothing Line The New York Times, January 2, 2011^
  15. Catherine Curan. G-III Apparel, once cold, is now hot winter item Crain's New York Business, October 23, 2000^
  16. Ylonda Gault. Stretching Leather Crain's New York Business, January 29, 1990^
  17. Vicki M Young. Highlights From G-III Apparel Group's History Women's Wear Daily, June 6, 2023, retrieved November 3, 2023^
  18. G-III Apparel 2006 company profile edition 1: Key Events Just - Style, August 2006^
  19. Go Team! Women's Wear Daily, October 22, 1997^
  20. G-III Apparel To Dissolve Exsto Brand DNR, November 19, 1999^
  21. Kenneth Cole Licenses G-III For Leather, Cloth Outerwear Women's Wear Daily, December 12, 1995^
  22. Suzanne Kapner. Troubles Mount at Nine West TheStreet, November 10, 1997^
  23. Cole-Haan's Coats Women's Wear Daily, Gale Group, Inc., February 15, 2000^
  24. David Samson '83, President of Miami Marlins, Elected as New Chair of the Cardoza Board of Overseers Cardoza News, Benjamin N. Cardozo School of Law, June 5, 2014, retrieved April 19, 2023^
  25. Masha Zager. Fashion "Melting Pot" G-III Diversifies Its Business Retail Info Systems News, EnsembleIQ, November 4, 2009, retrieved April 19, 2023^
  26. Teresa Hartford. G-III Adds $100 Million to Top Line with Two Acquisitions SGB Media, July 18, 2005, retrieved April 19, 2023^
  27. Power 100 Daily News Record, Fairchild Publications, October 30, 2006^
  28. Robert Abbott. A Growing Gap Between Earnings, Share Price at G-III Yahoo News, August 23, 2016, retrieved April 19, 2023^
  29. UPDATE 1-G-III buys Wilsons Leather outlet stores, ups '09 view Reuters, July 8, 2008, retrieved April 19, 2023^
  30. Masha Zager. Fashion "Melting Pot" G-III Diversifies Its Business Retail Info Systems News, EnsembleIQ, November 4, 2009, retrieved April 19, 2023^
  31. Rosemary Feitelberg. G-III Acquires Andrew Marc In $42M Deal Women's Wear Daily, February 12, 2008, retrieved April 19, 2023^
  32. Jean Palmieri. G.H. Bass: The Reinvention of a Heritage Brand Women's Wear Daily, Fairchild Publishing, February 27, 2023, retrieved April 28, 2023^
  33. Natalie Schwartz. G-III bets on Donna Karan and Nautica Fashion Dive, Informa, March 17, 2023, retrieved April 28, 2023^
  34. Alvin R. Cabral. Fashion brand Karl Lagerfeld to be fully acquired by G-III Apparel Group in $210m deal The National, International Media Investments, May 2, 2022, retrieved April 28, 2023^
  35. G-III buys luxury swimwear brand Vilebrequin for about $106 million August 8, 2012, retrieved April 28, 2023^
  36. Jean Lipke. G-III Buys Vilebrequin for $106M Women's Wear Daily, Fairchild Publishing, August 7, 2012, retrieved April 28, 2023^
  37. G-III Apparel acquires G.H. Bass from PVH Fashion Network, October 3, 2013, retrieved April 28, 2023^
  38. Karl Lagerfeld to bring namesake brand to North America FMD, June 9, 2015, retrieved April 19, 2023^
  39. Dominique Vidalon, Astrid Wendlandt. LVMH sells loss-making Donna Karan to G-III in $650 million deal Reuters, July 24, 2016, retrieved April 19, 2023^
  40. Lisa Lockwood. G-III Signs Agreement to Purchase Sonia Rykiel Women's Wear Daily, Fairchild Publishing, September 23, 2021, retrieved April 28, 2023^
  41. Evan Clark, Miles Socha. G-III Buying Full Control of Karl Lagerfeld Women's Wear Daily, May 22, 2022, retrieved April 19, 2023^
  42. Lisa Lockwood. G-III Licenses Nautica Women's Apparel From Authentic Brands Group Women's Wear Daily, Fairchild Publishing, March 16, 2023, retrieved April 28, 2023^
  43. David Moin, Evan Clark. Halston Finds a New Home at G-III With Licensing Deal Women's Wear Daily, June 26, 2023, retrieved June 10, 2023^
  44. David Moin, Evan Clark. Halston Finds a New Home at G-III With Licensing Deal Women's Wear Daily, June 6, 2023, retrieved November 3, 2023^
  45. Company Profile of G-III Apparel Group Plus Company Updates, September 13, 2017^
  46. Robert Abbott. A Growing Gap Between Earnings, Share Price at G-III Yahoo News, August 23, 2016, retrieved April 19, 2023^
  47. G-III Apparel Group Ltd Bloomberg, June 5, 2023, retrieved September 13, 2023^
  48. Jennifer Braun. Inter Parfums inks exclusive fragrance license with Donna Karan, DKNY Brands Fashion Network, July 21, 2021, retrieved September 14, 2023^
  49. Miles Socha. Karl Lagerfeld's New Luxury Villas Will Gleam With Gold Dust Women's Wear Daily, November 18, 2021, retrieved September 15, 2023^
  50. G-III Apparel Group headquarters and office locations Craft, retrieved September 15, 2023^
  51. Form 10‑K U.S. Securities and Exchange Commission, March 27, 2023, retrieved September 15, 2023^
  52. Robert Abbott. A Growing Gap Between Earnings, Share Price at G-III Yahoo News, August 23, 2016, retrieved April 19, 2023^
  53. Evan Clark. How Morris Goldfarb Became a Fashion Constant Women's Wear Daily, July 19, 2022, retrieved September 12, 2023^
  54. Form 10-K G-III, 2023, retrieved September 1, 2023^
  55. Form 8‑K U.S. Securities and Exchange Commission, July 28, 2020, retrieved June 5, 2023^
  56. Karl Lagerfeld to bring namesake brand to North America FMD, June 9, 2015, retrieved April 19, 2023^
  57. Evan Clark, Miles Socha. G-III Buying Full Control of Karl Lagerfeld Women's Wear Daily, May 22, 2022, retrieved April 19, 2023^
  58. Lisa Lockwood. G-III Signs Agreement to Purchase Sonia Rykiel Women's Wear Daily, Fairchild Publishing, September 23, 2021, retrieved April 28, 2023^
  59. Dominique Vidalon, Astrid Wendlandt. LVMH sells loss-making Donna Karan to G-III in $650 million deal Reuters, July 24, 2016, retrieved April 19, 2023^
  60. G-III Apparel acquires G.H. Bass from PVH Fashion Network, October 3, 2013, retrieved April 28, 2023^
  61. G-III buys luxury swimwear brand Vilebrequin for about $106 million August 8, 2012, retrieved April 28, 2023^
  62. Rosemary Feitelberg. G-III Acquires Andrew Marc In $42M Deal Women's Wear Daily, February 12, 2008, retrieved April 19, 2023^
  63. UPDATE 1-G-III buys Wilsons Leather outlet stores, ups '09 view Reuters, July 8, 2008, retrieved April 19, 2023^
  64. G-III buys some assets of Jessica Howard, Industrial Cotton Reuters, May 24, 2007, retrieved April 19, 2023^
  65. G-III Apparel Group, Ltd. Signs Expanded License With NFL SGB Media, October 14, 2010, retrieved May 23, 2023^
  66. Joe Brescia. Trading Uniform For a Clothing Line The New York Times, January 2, 2011^
  67. G-III Group signs apparel license for Converse The Spin Off, September 6, 2024, retrieved January 27, 2025^
  68. Benjamin Fitzgerald. G-III Apparel Q2 sales exceed expectations, inks new licensing deal for Champion Fashion Network, September 8, 2023, retrieved January 2, 2024^
  69. David Moin, Evan Clark. Halston Finds a New Home at G-III With Licensing Deal Women's Wear Daily, June 26, 2023, retrieved June 10, 2023^
  70. Lisa Lockwood. G-III Licenses Nautica Women's Apparel From Authentic Brands Group Women's Wear Daily, Fairchild Publishing, March 16, 2023, retrieved April 28, 2023^
  71. Margaritaville G-III, retrieved May 23, 2023^
  72. Thomas J. Ryan. G-III Apparel Forms Joint Venture With The Camuto Group SGB Media, September 16, 2010, retrieved May 23, 2023^
  73. Vince Camuto G-III, retrieved May 23, 2023^
  74. Thomas J. Ryan. G-III Acquires Andrew Marc SGB Media, February 11, 2008, retrieved May 23, 2023^
  75. Teresa Hartford. G-III Adds $100 Million to Top Line with Two Acquisitions SGB Media, July 18, 2005, retrieved April 19, 2023^
  76. Power 100 Daily News Record, Fairchild Publications, October 30, 2006^
  77. G-III, NASCAR Team Up G-III, May 24, 2004^
  78. G-III Apparel Teams With Major League Baseball to Produce Outerwear Collection G-III, September 30, 1999, retrieved April 21, 2023^
  79. G-III Apparel Group, Ltd. Announces Licensing Agreement With National Basketball Association G-III, April 7, 1998^
  80. Jay P. Pederson, Thomas Derdak. International Directory of Company Histories St. James Press, 1998, retrieved April 21, 2023^
  81. the Associated Press. Retailers pull fur-trimmed coats after dog hair is found Los Angeles Times, 2007-02-24, retrieved 2017-06-13^
  82. Arwa Mahdawi. Our self-styled feminist CEOs aren't as empowering as we thought The Guardian, 2017-03-29, retrieved 2017-06-13^
  83. Joanna Walters. Brand Ivanka: inside the tangled empire of the president's closest ally The Guardian, 2017-05-01, retrieved 2017-06-13^
  84. Drew Harwell. Workers endured long hours, low pay at Chinese factory used by Ivanka Trump’s clothing-maker Washington Post, 25 April 2017, retrieved 31 August 2024^
  85. Krithika Varagur in Subang, West Java. Revealed: reality of life working in an Ivanka Trump clothing factory The Guardian, 2017-06-13, retrieved 2017-06-13^