New York City-based G-III Apparel Group Ltd. — which currently owns 19 percent of the fashion brand Karl Lagerfeld — has entered into an agreement to purchase the remaining 81-percent interest in brand for 200 million euros (approximately $210 million) in cash from a group of private and public investors.
“This transaction marks yet another significant milestone for G-III,” said Morris Goldfarb, G-III’s chairman and CEO. “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.”
May/June 2022
