G-III to buy remaining 81% of Karl Lagerfeld for €200M ($210M) cash, becoming sole owner

G III APPAREL GROUP LTD /DE/

Acquires remaining 81% stake for €200M ($210M) in cash; expected close in Q2/Q3 of fiscal 2023.
Adds ~$200M in annual sales; combined with existing North America business (~$175M) yields ~$375M base.
Global net revenue potential of ~$1B; retail sales to end consumers forecast >$2B.
Transaction expected to be modestly accretive in fiscal 2023 and increasingly accretive thereafter.
Existing Karl Lagerfeld management team, led by Pier Paolo Righi, will continue to lead the brand.

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