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Karl Lagerfeld

With Karl Lagerfeld in Hand, G-III Raises Guidance

Click here to read the full article. Net sales for the first quarter increased 32.5 percent to $688.8 million, as net income rose 16.3 percent to $30.6 million. This content is for Limited, SJ Promo- 40% off, Annual, SJ Promo 50% off, $2/ Week, $3 / Week, SJ Promo- 25% off, $15 a Month and SJ Test 1 members only. You can read up to five free articles each month with a Limited Level Subscription. Please visit the site and log in, or subscribe to read. More from Sourcing JournalTrucking Should Brace for 'Wild Ride' in Coming MonthsLate Inventory Gives Journeys Back-to-School 'Head Start'Here's the Biggest Challenge Off-Price Faces This YearBest of Sourcing JournalThese 5 Rising Power Players Are Elevating the Logistics LandscapeDTC Explainer: Everything You Need to Know about Direct-to-ConsumerTariffs and Their Place in the American Economy
ECONOMY
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Elle

Carolyn Murphy Talks Modeling in the ’90s, Sleepovers With Karl Lagerfeld, and Her Latest Fashion Project

Style Points is a weekly column about how fashion intersects with the wider world. Before it took her to the runways of Tom Ford-era Gucci and Karl Lagerfeld-era Chanel, Carolyn Murphy’s romance with fashion began with a humble pair of Care Bears jeans. Growing up in small-town Florida, she says, “I wasn’t really exposed [to fashion] outside the local shopping mall.” But she began re-working clothes at a young age, taking those ursine mascots and re-stitching them onto a new pair when she outgrew the first one. “Or I would try to re-create the Polo label with embroidery”⁠—long before she ever set foot on Ralph Lauren’s runway. She also looked to her grandmother, who would hand-sew her family clothes complete with labels that read “Made with love by Nana.”
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fashionista.com

Chanel's Cruise 2022 Collection Pays Tribute to Karl Lagerfeld

To say that the shadow of Karl Lagerfeld looms large over Chanel would be something of an understatement. With his instantly-recognizable head of white hair (always tied back into a low ponytail) and signature dark sunglasses, headline-making quips and over-the-top runways, he is arguably the most famous fashion designer of the last 50 years.

G-III Buying Full Control of Karl Lagerfeld

Click here to read the full article. G-III Apparel Group is going bigger with a big personality.  The New York-based company has agreed to buy the 81 percent of the Karl Lagerfeld fashion brand it doesn’t already own for 200 million euros. Investors were keen on the deal and sent share of G-III up 5.5 percent to $27.93 on Monday. More from WWDScenes from Decentraland's Metaverse Fashion WeekKarl Lagerfeld RTW Fall 2022Fashion's Future Is Gender-Neutral Pier Paolo Righi, who has served as a custodian of sorts for the late designer’s legend and image, will continue to lead the brand as chief executive officer.  G-III...
BUSINESS
CNBC

G-III Apparel to buy Karl Lagerfeld brand in $210 million all-cash deal

G-III Apparel Group said on Monday it has agreed to acquire the remaining 81% stake in Karl Lagerfeld for $210 million in cash, becoming the sole owner of the Parisian fashion brand. G-III, which owns brands including DKNY and Jessica Howard, will purchase the additional stake from a group of...
BUSINESS

Karl Lagerfeld to be Fully Owned by G-III in $210 Million Deal

Click here to read the full article. G-III Apparel Group is set to acquire the remaining 81 percent stake in Karl Lagerfeld for 200 million euros ($210 million) in an all-cash deal. In a conference call to Wall Street investors Monday morning, G-III chief financial officer and treasurer Neal Nackman said the company plans to expand Karl Lagerfeld’s reach and bring the label into new product categories. The imprint has a “very small footwear component” right now and jeans will liven up its category mix “shortly,” he added. One analyst already sees an upside opportunity for G-III, whose portfolio includes DKNY, Tommy...
BUSINESS

G-III Apparel to buy remaining 81% of Karl Lagerfeld brand for 200 million euros

G-III Apparel Group Ltd. GIII, -2.11% said Monday it has agreed to acquire the remaining 81% stake in the Karl Lagerfeld brand for 200 million euros ($210 million) from a group of private and public investors led by Fred Gehring of Amlon Capital BV. The all-cash deal will make G-III the sole owner of the brand. The deal "advances several of our key priorities, namely an increase in the direct ownership of brands and their licensing opportunities and further diversification of our global presence," Chief Executive Morris Goldfarb said in a statement. The brand is expected to generate more than $2 billion in revenue, he continued. The deal includes Karl Lagerfeld's 10% stake in a Chinese joint venture and will add about $200 million in initial annual sales. The deal is expected to modestly boost earnings in fiscal 2023 through Jan. 31 and to be incrementally more accretive after that. The deal is expected to close in the second or third quarter of fiscal 2023. G-III shares were not yet active premarket, but have fallen 4% in the year to date, while the S&P 500.
APPAREL

April design news: cancer jewellery, food furniture, Karl Lagerfeld

Swedish designer Carolina Härdh has a good philosophy for her creative process: “As a designer, I need to take responsibility for my decisions in terms of material choice and manufacturing. Because, whatever I create, it will live on longer than I will do, so I want to make sure it’s not toxic. Using design as a tool for change has become my way of understanding myself, nature and sustainability.”