G-III Apparel Group Ups Stake in All We Wear Group and Announces New Licensing Deal
G-III Apparel Group reported on Monday that it has amplified investment in All We Wear Group. AWWG is the owner of brands including as Pepe Jeans London, Hackett, and Facconable. Previously, in June, G-III disclosed a strategic collaboration for an ownership interest of 12 percent in AWWG, which has recently augmented to approximately 19 percent.
The initial report in June forecasted that the stake in AWWG would escalate to 20 percent in the coming month and offered G-III the potential to buy the company altogether. This acquisition would significantly enhance its international reach and add approximately 500 outlets to its existing business.
AWWG, headquartered in Madrid and owned by MI Group, L Catterton, and Carlos Ortega, its founder, is renowned for its role as a major platform for international brands. It amasses over $650 million in revenue across more than 3,500 salespoints in 86-plus countries worldwide.
The partnership contract, disclosed earlier, has made G-III Apparel Group the official representative for brands such as DKNY, Donna Karan, and Karl Lagerfeld in Spain and Portugal. As a part of its plan to optimize its European growth potential, G-III also intends to capitalize on AWWG’s influence in India, one of the rapidly expanding fashion markets globally, with a focus on brand expansion led by DKNY. In response, AWWG stands to gain from G-III’s North American operations to bolster its market presence in that region.
Speaking about the partnership, Morris Goldfarb, G-III’s chairman and CEO, stated, “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.”
When the deal was initially announced last month, Goldfarb explained,
This collaboration is serious. It’s not only distributing our brands throughout Iberia, it is also collaborating and bringing Pepe, Hackett and Façonnable to the U.S. and parts of the world where they are not penetrated.”