G-III Apparel Group, Ltd. announces an increase in its stake in fashion group AWWG

The parent company of Donna Karan and Karl Lagergeld is increasing its investment in AWWG. After acquiring a stake in the Spanish group that owns Pepe Jeans London, Hackett and Façonnable last June, G-III Apparel is increasing its holding from 12% to 19% in order to “maximise its growth opportunities in Europe,” according to a press release issued by the American company on Monday July 29.

“We are pleased to increase our investment in AWWG and remain confident that this partnership represents a new growth opportunity for our business. This transaction reinforces our strategic priorities and we look forward to building on our relationship with AWWG and its talented team to accelerate our joint activities,” said Morris Goldfarb, Chairman and CEO of the US group, commenting on the strategy.

As part of the agreement, the Spanish group has become the official agent for DKNY, Donna Karan and Karl Lagerfeld in Spain and Portugal, while benefiting from the operations of G-III Apparel North America to expand its presence in this market. The US company will strengthen its presence in the Iberian Peninsula and will be able to take advantage of AWWG’s extensive presence in India, one of the world’s fastest growing fashion markets.

This is a further step in the growth plan of Madrid-based All We Wear, formerly known as Pepe Jeans, and comes on top of the multi-channel strategy launched at the beginning of July to boost the development of the American company’s brand in the Iberian Peninsula.

Owned by M1 Group, L Catterton and founder Carlos Ortega, the AWWG group, which also manages the distribution of brands belonging to G-III, Calvin Klein and Tommy Hilfiger in Spain and Portugal, recorded sales of €604 million for the 2022/2023 financial year and forecasts revenues of €633 million for the 2023/2024 financial year. Looking ahead, it is targeting sales of €850 million in 2027, supported by the international expansion of its own brands.

Currently, the conglomerate founded in 1998 is present in 86 countries through a network of more than 3,500 sales outlets. With 4,500 employees worldwide, AWWG has offices in Madrid, Barcelona, Elche, London, Amsterdam, Mexico City and Mumbai.