Madrid-based AWWG, which is owned by M1 Group, LCatterton and founder Carlos Ortega, is a premier platform for international brands including Hackett, Pepe Jeans and Façonnable, and generates over $650 million in revenues across over 3,500 points of sale in over 86 countries. The Group, which also manages the Iberian business for PVH Corp., offers significant expertise to unlock the Spain and Portugal markets for G-III’s brands as the Company seeks to maximize its European growth opportunity. Additionally, G-III plans to leverage AWWG’s notable presence in India to expand its key brands, led by DKNY, in one of the fastest growing fashion markets in the world. In turn, AWWG will benefit from G-III’s best-in-class operations in North America to expand their footprint in the market.
G-III Apparel Group has acquired a 12 per cent stake in All We Wear Group, positioning AWWG as the agent for DKNY, Donna Karan, and Karl Lagerfeld in Spain and Portugal.
This partnership aims to enhance G-III’s expansion in Europe and India, while also facilitating AWWG’s North America operations, leveraging their respective operational strengths & market presences.
Morris Goldfarb, G-III’s Chairman and Chief Executive Officer, said, “This exciting partnership with AWWG helps us accelerate a number of our strategic priorities. It not only affords us the opportunity to meaningfully invest in a company with iconic brands, but also represents a sizable international presence with a strong infrastructure and talented leadership team that will benefit our efforts to scale our European business. At the same time, we look forward to supporting AWWG’s overall growth and advancement of their brands here in North America.”
Marcella Wartenbergh, CEO of AWWG, stated, “We are incredibly proud to have G-III, an industry leader with a track record of scaling brands, as our shareholder. We look forward to partnering together to propel the growth and European expansion of DKNY, Donna Karan and Karl Lagerfeld, leveraging our global brand platform, operational excellence and Indian market capabilities. AWWG will also benefit from G-III’s expertise and investment as we seek to expand our brands Hackett, Pepe Jeans and Façonnable in North America and further solidify our operational platform during this critical moment of our growth journey. This agreement is the result of a relationship built on mutual trust and a unified vision for brand growth and product development.”
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (RM)