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Herrero joins G-III

Victor Herrero is on the board of directors of G-III.

Herrero’s expertise has been developed by his diversified apparel and accessory experience in North America, Europe and Asia. He was chief executive officer and a director of Guess. He has spent more than 12 years at Inditex in several senior executive roles and rose to become the head of Asia Pacific where he was responsible for all aspects of Inditex’s Asia business for all brands. He has also been a non-executive director of Coppel.

G-III is known for its global power brands, DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess, Vince Camuto, Levi’s and Dockers. The company has been seeking to diversify its sourcing network by arranging to move some production out of China and has also succeeded in obtaining price concessions from its Chinese vendors. In addition, it has obtained price increases from some of its customers in the US. G-III estimates that the incremental 15 per cent increase in tariffs for the remainder of fiscal 2020 will increase its cost by approximately six million dollars. However the company has not factored any future increases in tariffs on additional goods imported from China into the US in its fiscal 2020 guidance.