The joint venture will serve as the exclusive seller of DKNY and Donna Karan in China, Macau, Hong Kong and Taiwan, beginning this January.
ASIA–G-III Apparel Group has partnered with Fred Gehring’s investment fund, Amlon Capital, to craft women’s and men’s apparel and accessories for the DKNY and Donna Karan brands in the People’s Republic of China, including Macau, Hong Kong and Taiwan.
The joint venture will be funded with $25 million of equity, which will be used to strengthen the DKNY and Donna Karan brands and accelerate the business’ growth in the region. Furthermore, G-III will own 49 percent of the venture, with Amlon retaining the remaining shares.
Beginning this January, the joint venture will also serve as the exclusive seller of both brands in China, Macau, Hong Kong and Taiwan.
Additionally, Gehring, former chairman and chief executive officer, Tommy Hilfiger, and former vice chairman, PVH Corp., will serve as chairman of the joint venture; while Steve Shen, former chief executive officer, Tommy Hilfiger China, will serve as the joint venture’s chief executive officer.
“In our industry, Fred has no peer and his tenure at Tommy Hilfiger and PVH is a testament to that. He is a great partner with us on the Karl Lagerfeld brand. We are excited to extend this strong partnership and work with him and his team on growing the DKNY and Donna Karan brands in China,” says Morris Goldfarb, chairman and chief executive officer, G-III. “Steve’s track record in China is outstanding. We are looking forward to collaborating with these accomplished retail industry veterans to aggressively grow our business in the greater China region, which is a major strategic opportunity for us.”