Global fashion group AWWG has announced a new strategic and investment partnership with the G-III Apparel Group, with an ownership stake of 12% of AWWG.
Headquartered in Madrid, AWWG will unlock the Spanish and Portuguese markets for G-III’s brands, as the company seeks to maximise its European growth opportunity. AWWG will also become the agent for DKNY, Donna Karan and Karl Lagerfeld across Spain and Portugal.
Other fashion brands set to benefit from the partnership are Pepe Jeans London, Hackett and Façonnable, which are part of G-III’s portfolio of more than 30 brands.
G-III plans to leverage AWWG’s presence in India to expand its key brands in that market, which is forecast to reach Rs8,961bn by 2027.
In turn, AWWG will benefit from G-III’s operations in North America to expand its brands and footprint there.
AWWG CEO Marcella Wartenbergh commented: “This partnership results from an agreement built in mutual trust with G-III to represent and grow both brands, leveraging our expertise in the Iberian market.”
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G-III chairman and CEO Morris Goldfarb added: “The agreement affords us the opportunity to meaningfully invest in a company that represents a sizable international presence with a strong infrastructure and talented leadership team that will benefit our efforts to scale our European business.”
