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.”
G-III Apparel Group, Ltd. Acquires Global Luxury Resort Brand Vilebrequin
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