G-III Apparel Group, Ltd. has increased its investment in All We Wear Group (AWWG), which owns the Pepe Jeans London, Hackett and Façonnable brands. The previously disclosed partnership for an ownership stake of 12 percent now increases to approximately 19 percent.
“Madrid-based AWWG, owned by M1 Group, LCatterton and founder Carlos Ortega, is a platform for international brands and generates over $650 million in revenues across over 3,500 points of sale in over 86 countries,” reported G-III.
As part of the previously announced agreement, the AWWG became the official agent for DKNY, Donna Karan, and Karl Lagerfeld across Spain and Portugal, seeking to increase growth in Europe.
G-III also reported plans to leverage AWWG’s presence in India, one of the fastest-growing worldwide fashion markets, to expand its key brands, led by DKNY. In turn, AWWG would benefit from G-III’s operations in North America to expand its footprint in that market.
Morris Goldfarb, chairman and CEO of G-III Apparel Group, Ltd., said, “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.”
Image courtesy Façonnable
