G-III also noted that, as part of the transaction, Adu Advaney, co-founder of Fashion Fund I B.V., has joined Vilebrequin’s Board as Vice Chairman.
Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group, commented, “We have stated publicly our desire to own a global brand. An opportunity to acquire a preeminent luxury brand such as Vilebrequin does not happen very often. Vilebrequin sets a global standard for excellence and commands exceptional loyalty at a premium price in each of its markets. We believe that this brand is very powerful and expect to add more retail locations throughout the world, as well as develop the business beyond its heritage in men’s swimwear, accessories and resort-wear. We have assembled a world class luxury brand management team, led by Roland Herlory, who we are confident can extend and expand Vilebrequin into a diversified global luxury brand.”
Mr. Herlory commented, “I am excited to begin the next chapter of my career. I have admired the Vilebrequin brand for many years. Vilebrequin has maintained the highest integrity of design, quality and value. We have a shared vision for the Vilebrequin brand and will continue to set the standard for men’s casual luxury. We believe that the brand is positioned extremely well to expand its business into more points of sale throughout the world. In the near-term, we will also work on further developing men’s accessories and resort-wear. It is our intention to leverage our strong brand and the additional resources G-III will provide to quickly transcend our leadership position in the men’s luxury resort business.”
Barclays acted as exclusive financial advisor to G-III. Fulbright & Jaworski L.L.P. and Meyerlustenberger Lachenal Avocats served as legal advisors for G-III in connection with the acquisition of Vilebrequin.About Vilebrequin Vilebrequin was founded in 1971 in St Tropez when a young visionary, seated at the illustrious Café Senequier, invented the first boxer short.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV