G-III Apparel enters Karl Lagerfeld's parent company
The partnership between American company G-III Apparel Group and Karl Lagerfeld just got stronger. G-III has taken a 19 percent minority stake in the parent company. Last June, the two companies created a joint venture to develop the self-titled line of Chanel’s artistic director, in the United States, as of Spring/Summer 2016.
The joint venture in which G-III holds a 49 percent interest helps ensure the development of the brand in the United States, Canada as well as in Mexico - three strategic markets for the development of the brand. G-III Apparel Group also acquired American company PHV, in 2014. The owners of Tommy Hilfiger and Calvin Klein took on minority shares. G-III Apparel Group is well-known for its licences with both American brands.
Since 2006, British firm, Apax Partners has a majority stake in the Paris-based Karl Lagerfeld brand and will allegedly seek to withdraw its investment.
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