Parent company of Donna Karan and Karl Lagerfeld, G-III Apparel Group has expanded its stake in AWWG to 19 per cent from the current 12 per cent. This will enable the Spanish Group, which owns brands like Pepe Jeans London, Hackett, and Façonnable, maximise its growth opportunities in Europe, says Morris Goldfarb, Chairman and CEO, G-III Apparel.
As part of the new agreement, AWWG has become the official agent for DKNY, Donna Karan, and Karl Lagerfeld in Spain and Portugal. This partnership allows AWWG to leverage G-III's operations in North America to expand its market presence, while G-III will strengthen its foothold in the Iberian Peninsula and capitalise on AWWG's extensive network in India, a rapidly growing fashion market.
The investment is a critical component of AWWG's growth plan, supporting the international expansion of its own brands and aligning with its multi-channel strategy initiated in early July. Owned by M1 Group, L Catterton, and founder Carlos Ortega, AWWG recorded sales of €604 million for the FY 2022/2023 and projects revenues of €633 million for 2023/2024. By 2027, the group aims to reach €850 million in sales, leveraging its presence in 86 countries and a network of over 3,500 sales outlets. AWWG employs around 4,500 people worldwide, with offices in major cities including Madrid, Barcelona, London, and Mumbai.
