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

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Textiles | On 17th Apr 2021

Fibre2Fashion: 21 years of serving textile-apparel-fashion industry

Fibre2Fashion, the online platform for the global...

Pic: Shutterstock

Textiles | On 17th Apr 2021

China's economy grows 18.3% in Q1 2021

Powered by a strong domestic and foreign demand, China's economy grew ...

Pic: Shutterstock

Retail | On 17th Apr 2021

US retail sales saw strong rebound in March: NRF

As government cheques fattened consumers’ bank accounts and more...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Fashion tech has to be lean and very productive

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor <g...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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

Leave your Comments


April 2021

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


Advanced Search