G-III Apparel Group to Purchase 81% Stake in Karl Lagerfeld Brand for EUR 200m.
MANews-(C)2009-2022
New York-based apparel designer and manufacturer G-III Apparel Group, Ltd. (NASDAQ: GIII) has agreed to purchase the remaining 81% stake in German fashion brand Karl Lagerfeld for EUR 200m (USD 210m), the company said.
G-III will purchase the additional stake in the brand from a group of private and public investors, led by Fred Gehring of Amlon Capital BV.
G-III currently owns 19% of the brand and, through this transaction, will become the sole owner of the Karl Lagerfeld brand. The all-cash transaction has been approved by the board of directors of both companies.
The addition of this fashion brand to the G-III portfolio advances provides an increase in the direct ownership of brands and their licensing opportunities and further...
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