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Published
Jun 3, 2022
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G-III completes acquisition of Karl Lagerfeld

Published
Jun 3, 2022

G-III Apparel Group Ltd. announced on Thursday the completion of its acquisition of the Karl Lagerfeld brand, after the U.S. apparel firm disclosed last month its intention to take full ownership of the luxury fashion brand, in which it owned a 19% minority stake.


Karl Lagerfeld


The New York-based company said it has completed its acquisition of the remaining 81% interest in famed fashion brand Karl Lagerfeld for €200 million (approximately $214 million), subject to certain adjustments.

On May 2, G-III purchased the remaining stake in Karl Lagerfeld, that it did not previously own, from a group of private and public investors, led by Fred Gehring of Amlon Capital BV.

The transaction was funded by G-III with cash on hand. As a result of the transaction, the Karl Lagerfeld brand is wholly owned by subsidiaries of G-III Apparel Group.

​"We have great respect for Karl Lagerfeld's experienced and talented leadership team, led by Pier Paolo Righi, with whom we have worked closely for the past seven years," said G-III Apparel’s CEO, Morris Goldfarb, when the transaction was first announced last month.

"This team, combined with G-III's expertise, is expected to unlock more of the brand’s global potential, which we believe represents a retail sales opportunity in excess of $2 billion."

​Founded in 1984 by Karl Lagerfeld, former creative director of Chanel for over 30 years and of Fendi for half a century, the Karl Lagerfeld brand has been enjoying a successful resurgence for the past decade. After a period of inactivity, with investors changing regularly, CEO Pier Paolo Righi took over the company at the end of 2011.

Today, the brand has nearly 120 company-owned and franchised stores and is also available in select multi-brand retailers and its online website. In 2021, Karl Lagerfeld's sales increased by 40%, compared to 2020 (up 35% compared to pre-pandemic levels), with the company targeting annual growth of around 20-25%.
 

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