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G-III Apparel (GIII) to Acquire Sonia Rykiel Luxury Brand

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G-III Apparel Group, Ltd. GIII anchored by global power brands, such as Donna Karan and DKNY looks well poised to capture any growth opportunity that comes its way. In a latest development, the company announced that it agreed to acquire an iconic European luxury fashion brand Sonia Rykiel. Collaboration with this brand will enable G-III Apparel to further reinforce its global footprint in the luxury space. The deal is likely to be concluded by the end of October this year. Sonia Rykiel is among the recognized figures of Parisian fashion who developed an iconic brand that defines the spirit of the modern woman. Founded in 1968, the Sonia Rykiel brand deals chiefly in clothing, accessories and fragrances. Per management, G-III Apparel intends to accelerate the relaunch of this brand with collections across several categories, mainly in Europe in the fall of next year. Management believes that there is a major growth opportunity to unlock the brand’s inherent potential. G-III Apparel expects to leverage the present executive management group and infrastructure in Europe coupled with its own supply-chain expertise to scale and elevate the Sonia Rykiel business across areas like apparel, accessories and several........

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