The US textile group G-III Apparel Group Ltd. has successfully completed the acquisition of the clothing brand Karl Lagerfeld announced at the beginning of May. “As a result of the transaction, Karl Lagerfeld is now a wholly owned subsidiary of G-III,” the group said on Thursday evening. The group had bought the remaining 81 percent stake in Karl Lagerfeld for €200 million from a group of investors led by Fred Gehring of Amlon Capital BV.
With the takeover, G-III further expanded its brand portfolio. The group, which includes the Donna Karan fashion house with the DKNY label, acquired the French brand Sonia Rykiel last year. G-III also owns the Vilebrequin, GH Bass, Eliza J, Jessica Howard, Andrew Marc and Marc New York labels. In addition, the company is a license partner of well-known clothing suppliers such as Calvin Klein, Tommy Hilfiger, Cole Haan, Guess and Levi’s.