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US' G-III Apparel increases stake in All We Wear group to 19%

29 Jul '24

2 min read

US' G-III Apparel increases stake in All We Wear group to 19%

Pic: G-III Apparel

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G-III Apparel Group increased its investment in All We Wear Group (AWWG) from 12 per cent to approximately 19 per cent.
AWWG, owner of brands like Pepe Jeans and Hackett, generates over $650 million in revenue across 86 countries.
The partnership aims to leverage growth opportunities in Europe and India while expanding AWWG's presence in North America.

G-III Apparel Group, Ltd. (Nasdaq: GIII) (“G-III” or the “Company”), a global leader in fashion, today announced an increased investment in All We Wear Group (“AWWG” or “Group”), which owns the iconic brands Pepe Jeans London, Hackett, and Façonnable. The previously disclosed strategic partnership for an ownership stake of 12%, now increases to approximately 19%.

Madrid-based AWWG, which is owned by M1 Group, LCatterton and founder Carlos Ortega, is a premier platform for international brands and generates over $650 million in revenues across over 3,500 points of sale in over 86 countries. As part of the previously announced agreement, the Group has become the official agent for DKNY, Donna Karan and Karl Lagerfeld across Spain and Portugal, as the Company seeks to maximize its European growth opportunity. G-III also plans to leverage AWWG’s notable presence in India, one of the fastest growing fashion markets in the world, to expand its key brands, led by DKNY. In turn, AWWG will benefit from G-III’s best-in-class operations in North America to expand its footprint in that market.

Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “We are pleased to expand our investment in AWWG and strongly believe this partnership is another growth opportunity for our business. This transaction reinforces our strategic priorities and we look forward to further developing our relationship with AWWG and its talented team, as we accelerate our collective businesses.”