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It's like PVH Corp. (owners of Calvin Klein and Tommy Hilfiger) but managing an even broader portfolio of owned and licensed apparel brands, from designer to mainstream, plus a strong business in licensed sports merchandise.

Think of it as an apparel version of Capri Holdings (Michael Kors, Versace) or VF Corporation (North Face, Vans), but focused on a wider mix of fashion brands (owned and licensed) and a significant presence in sports-licensed apparel.

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• Apparel: Includes outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear.
• Accessories: Encompasses women's handbags, footwear, small leather goods, cold weather accessories, and luggage.

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G-III Apparel (GIII) operates through two segments: Wholesale Operations and Retail Operations. Its "Wholesale Operations" segment, and the explicit statement that "The company offers its products to department, specialty, and mass merchant retail stores," indicate that its major customers are primarily other companies.

Based on the categories of retailers mentioned, major publicly traded companies that are likely customers of G-III Apparel include:

• Macy's, Inc. (M)
• Kohl's Corporation (KSS)
• Nordstrom, Inc. (JWN)
• Walmart Inc. (WMT)
• Target Corporation (TGT)

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Morris Goldfarb, Chairman and Chief Executive Officer

Morris Goldfarb is the son of G-III Apparel Group's founder, Aron Goldfarb, and joined the company in 1972. He has served as an executive officer since the company's formation in 1974. Mr. Goldfarb played a significant role in diversifying and expanding the company's sourcing and has grown G-III into a global design, sourcing, licensing, marketing, and retail partner. He co-founded Rainforest Cafe and was a partner of Hamilton House Private, Ltd. He also owned and operated a garment factory in Ulaan Baatar, Mongolia. As of September 26, 2024, he was a significant insider shareholder, holding 10.91% of the company's shares.

Neal Nackman, Chief Financial Officer

Neal Nackman has served as the Chief Financial Officer of G-III Apparel Group, Ltd. since September 14, 2005, having joined the company in 2003. Prior to his time at G-III, Mr. Nackman held senior-level finance positions at several apparel companies, including Nautica Enterprises and Perry Ellis. He was also formerly a partner with Grant Thornton.

Sammy Aaron, Vice Chairman and President

Sammy Aaron is the Vice Chairman and President of G-III Apparel Group. He joined G-III in 2005, following the acquisition of Marvin Richards, where he had served as President since 1998. Mr. Aaron oversees the company's merchandising operations, which include design, production, sales, merchandising, and planning, and is responsible for many of G-III's brands, such as DKNY, Karl Lagerfeld Paris, Calvin Klein, and Tommy Hilfiger.

Jeffrey Goldfarb, Executive Vice President

Jeffrey Goldfarb, the son of CEO Morris Goldfarb, joined G-III Apparel Group in 2002. He has been an Executive Vice President and Director of Strategic Planning since June 2016. Mr. Goldfarb has been instrumental in the company's acquisitions, licensing partnerships, and digital transformation initiatives. He is a licensed attorney.

Dana Perlman, Chief Growth and Operations Officer

Dana Perlman is the Chief Growth and Operations Officer of G-III Apparel Group, having joined the leadership team in January 2024. In this role, she focuses on driving innovation, optimizing operations, and identifying new opportunities, overseeing Strategy, Finance, Communications, IT, and other operating functions. Before joining G-III, Ms. Perlman spent over 10 years at PVH Corp.

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1. Loss of Key Licensing Agreements: G-III Apparel faces a significant risk due to the strategic exit and expiration of major licensing agreements, particularly for Calvin Klein and Tommy Hilfiger brands. This transition is projected to result in a substantial reduction in revenue, with an estimated loss of $470 million in sales from these businesses impacting fiscal 2027, contributing to an expected 8% decline in total sales for the upcoming year. The company is actively working to offset this decline by growing its owned brands like DKNY and Karl Lagerfeld.
2. Challenging Retail Environment and Dependence on Department Stores: G-III's business is heavily exposed to the difficulties within the broader retail landscape, including a high dependence on traditional brick-and-mortar department stores. The apparel market is highly competitive and susceptible to rapidly changing consumer preferences and economic uncertainties. Events such as the Saks bankruptcy have directly impacted G-III, leading to a $17.5 million bad debt expense and affecting quarterly earnings. Weak consumer confidence and spending power due to economic conditions or inflation can further pressure sales and margins.
3. Tariffs and Supply Chain Disruptions: The company is exposed to risks associated with global trade policies, including tariffs, which have had a material impact on its financial performance. G-III reported an unmitigated $65 million impact on gross margin for fiscal 2026 due to tariffs. Additionally, the company's reliance on a global network of independent, third-party manufacturers, predominantly located in Asia, exposes it to potential supply chain disruptions, political and social instability in these regions, and fluctuations in currency exchange rates.

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The rapid proliferation and increasing market share of digitally native, direct-to-consumer (DTC) apparel brands. These brands bypass traditional wholesale and physical retail distribution channels that G-III Apparel Group, Ltd. heavily relies on. They leverage agile supply chains, data analytics, and direct customer engagement to rapidly respond to trends, build strong brand loyalty, and offer competitive pricing. This model directly challenges G-III's established distribution network and its ability to compete for consumer attention and sales, potentially eroding the value of its brand portfolio and wholesale relationships.

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The addressable markets for G-III Apparel's main products and services are substantial, both globally and within the United States.

Apparel

• The global apparel market was valued at approximately USD 1.74 trillion in 2023.
• In the United States, the apparel market exceeded USD 351 billion in 2023.
• Focusing on women's apparel, the global market size was estimated at around USD 1.5 trillion in 2023. Another estimate placed the global women's wear market size at USD 1,054.52 billion in 2023.
• The U.S. women's apparel market was valued at approximately USD 400 billion in 2023.

Handbags and Small Leather Goods

These products fall under the broader categories of handbags and fashion accessories.

• The global handbag market size was approximately USD 70.02 billion in 2023.
• The U.S. handbag market was valued at around USD 13 billion in 2023.
• More broadly, the global fashion accessories market, which includes handbags, small leather goods, and cold weather accessories, was estimated at USD 798.81 billion in 2024.
• The U.S. fashion accessories market generated a revenue of USD 222.07 billion in 2024.

Footwear

• The global footwear market size was valued at approximately USD 395.15 billion in 2023.
• In the United States, the footwear market size reached USD 95.1 billion in 2024.

Luggage

• The global luggage market was valued at USD 38.8 billion in 2023.

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G-III Apparel Group, Ltd. (GIII) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives, primarily focusing on its owned brands, international expansion, digital presence, and new licensing agreements.

Here are the key drivers:

• Growth of Owned Brands: G-III is strategically shifting its focus and investment towards its proprietary brands, including DKNY, Donna Karan, Karl Lagerfeld, and Vilebrequin. These owned brands have demonstrated strong performance, with Donna Karan experiencing approximately 40% growth in fiscal 2026, and DKNY and Karl Lagerfeld also showing significant momentum. The company anticipates that its "go-forward portfolio," largely comprising these owned brands, will represent nearly 60% of revenue in fiscal 2026, up from around 50% previously, and is projected to grow in the high single digits. This transition is also expected to lead to improved gross margins.
• International Expansion and Strategic Partnerships: G-III is actively expanding its global footprint, targeting growth in key international markets such as Europe, Asia-Pacific, and India. A significant step in this direction is the strategic partnership and investment in All We Wear Group (AWWG), which serves as an agent for G-III's owned brands like DKNY, Donna Karan, and Karl Lagerfeld across Spain and Portugal. This partnership also aims to leverage AWWG's presence to expand G-III's brands in India.
• Digital Expansion and Omnichannel Capabilities: The company is investing in enhancing its digital and omnichannel capabilities. This includes strengthening the e-commerce platforms for brands like DKNY and Karl Lagerfeld Paris with advanced CRM systems and loyalty programs. Collaborations with major online retailers are also central to G-III's strategy to bolster its digital presence and capitalize on increasing online demand.
• New Licensing Agreements and Product Diversification: While strategically exiting some long-standing licensed businesses, G-III is actively pursuing new licensing agreements to diversify its product offerings and enter new market segments. A notable development is the major partnership with Converse, with products expected to launch in Fall 2025, which aligns with G-III's focus on youth and active lifestyle markets. The company is also reintroducing brands like Pepe Jeans and Hackett in North America.

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Share Repurchases

• G-III Apparel Group returned $54.0 million to shareholders in fiscal 2026, which included $49.8 million of share repurchases.
• The company repurchased $60 million of its owned shares in fiscal year 2025.
• During the nine months ended October 31, 2025, G-III Apparel used $49.8 million of cash to repurchase 2,158,276 shares of common stock.

Share Issuance

• The number of outstanding shares was 43,883,207 as of March 19, 2025.
• As of December 3, 2025, there were 42,189,287 shares of common stock outstanding.
• The number of shares outstanding as of March 2026 and the end of 2025 was 42,254,000.

Outbound Investments

• In fiscal year 2025, G-III Apparel made $100 million in strategic investments, primarily driven by its investment in AWWG.
• AWWG has become the official agent for G-III's DKNY, Donna Karan, and Karl Lagerfeld brands across Spain and Portugal, with potential for further expansion in Europe and Asia.
• The company is expanding its brand portfolio through new licensing agreements, including a global apparel license for Converse, Inc., which is expected to launch in Fall 2025.

Capital Expenditures

• G-III Apparel expects capital expenditures of approximately $40 million for fiscal year 2026, mainly for building out shop-in-shops for new brand launches and implementing new technology. Another source indicated $50 million for fiscal 2026 for similar purposes.
• For the nine months ended October 31, 2025, capital expenditures amounted to $27.5 million, primarily for leasehold improvements and computer software.
• In fiscal year 2025, the company incurred approximately $60 million in incremental expenses, largely for launching and marketing new brands such as Donna Karan, Nautica, and Halston.