Home / Knowledge / News / Fashion / G-III Apparel Group, Karl Lagerfeld Group BV announce JV
G-III Apparel Group, Karl Lagerfeld Group BV announce JV
09
Jun '15
Two American companies - G-III Apparel Group, Ltd. and Karl Lagerfeld Group BV, the parent company of the Karl Lagerfeld global brand, have announced a joint venture agreement for the development of the iconic designer’s namesake brand in the North American market, the two sides said in a statement.

Under the terms of the agreement, Karl Lagerfeld Group BV has assigned the Karl Lagerfeld marks for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services, all of which remain exclusively with Karl Lagerfeld Group BV) and apparel in the US and Canada.

Additionally, the joint venture will be granted an exclusive, irrevocable, royalty-free license to use the marks in Mexico with respect to the same products. G-III acquired a 49 per cent interest in the joint venture.

G-III is also the first licensee of the joint venture and has been granted a five year license (with two renewals of five years each) for women’s apparel, women’s handbags, and men’s outerwear. The joint venture expects to grant additional category licenses over time to G-III and/or to other parties.

Morris Goldfarb, G-III’s chairman, CEO and president, said, “Karl Lagerfeld has a rich history and has truly captured and captivated the imagination of women and men around the world. We are excited to have formed this partnership and are poised to launch this iconic fashion brand to a new generation of consumers. We are looking forward to shipping product for the Spring 2016 season and believe we can build and grow a meaningful business for Karl Lagerfeld product.”

Pier Paolo Righi, CEO and president of Karl Lagerfeld Group BV, said, “We continue to execute ambitious plans and a global growth strategy for the Karl Lagerfeld business. The North American market forms an important part of these plans. G-III is a true leader in this market and has demonstrated excellence across a range of businesses. We believe that these first categories will quickly form the cornerstone of our North American business. We are excited for our future and to now add G-III’s value-added capabilities across a number of important categories.” (SH)

Fibre2fashion News Desk – India

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search