The Spanish owner of Pepe Jeans and Hackett, AAWG, has announced a “strategic and investment partnership with the global leader in fashion G-III Apparel Group, via an ownership stake of approximately 12% of AWWG”.
The partnership “will enhance the growth and priorities” of the aforementioned brands, as well as of its Façonnable label.
The deal also sees AWWG becoming the agent for DKNY, Donna Karan and Karl Lagerfeld across Spain and Portugal.
AWWG said it “will offer significant expertise to unlock the Spain and Portugal markets for G-III’s brands as the company seeks to maximise its European growth opportunity”.
And it added that “G-III plans to leverage AWWG’s notable presence in India to expand its key brands in that market. In turn, AWWG will benefit from G-III’s best-in-class operations in North America to expand its brands and footprint in the USA.”
AWWG explained that it’s “unwavering in its commitment to ongoing evolution by embracing transformative strategies and enhancing brand equity, ensuring the group stays ahead of the curve in meeting the industry’s ever-changing demands, challenges, and inherent needs. At the forefront of this new strategic partnership, the visionary leadership and business expertise of the CEO, Marcella Wartenbergh, has been key in positioning AWWG as a strong fashion group in the industry”.
Wartenbergh said the Iberian deal to manage DKNY, Donna Karan and Karl Lagerfeld “will enrich our portfolio and strengthen our platform”.
And chairman Carlos Ortega said the company is “convinced this strategic partnership will be mutually beneficial for both groups given the complimentary brands and market expertise. There is no doubt G-III can add tremendous value in helping us grow in the North American market, whilst at AWWG we will leverage our local expertise and knowledge of the European (especially Spanish and Portuguese) and Indian markets to realise the high growth potential of the G-III brands in these markets”.
Copyright © 2024 FashionNetwork.com All rights reserved.