Global fashion group AWWG has announced a new strategic and investment partnership with the G-III Apparel Group, with an ownership stake of 12% of AWWG.
Headquartered in Madrid, AWWG will unlock the Spanish and Portuguese markets for G-III’s brands, as the company seeks to maximise its European growth opportunity. AWWG will also become the agent for DKNY, Donna Karan and Karl Lagerfeld across Spain and Portugal.
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Other fashion brands set to benefit from the partnership are Pepe Jeans London, Hackett and Façonnable, which are part of G-III’s portfolio of more than 30 brands.
G-III plans to leverage AWWG’s presence in India to expand its key brands in that market, which is forecast to reach Rs8,961bn by 2027.
In turn, AWWG will benefit from G-III’s operations in North America to expand its brands and footprint there.
AWWG CEO Marcella Wartenbergh commented: “This partnership results from an agreement built in mutual trust with G-III to represent and grow both brands, leveraging our expertise in the Iberian market.”
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By GlobalDataG-III chairman and CEO Morris Goldfarb added: “The agreement affords us the opportunity to meaningfully invest in a company that represents a sizable international presence with a strong infrastructure and talented leadership team that will benefit our efforts to scale our European business.”
