G-III CEO: We're In Growth Mode
Debra Borchardt: You recently made a purchase on the luxury side of the business Vilebrequin. Are you seeing that as a more stable clientele, the luxury clientele?
Morris Goldfarb: It's not as stable as one might think. It's stable seasonality. The price point of the swimwear at Vilebrequin is quite high. Retails are anywhere from $200 to $700 dollars. So, to say that it's stable and anybody can do it is really not true.
The international market is a fan of the brand. Today the Brazilian market is very actively buying it the Russian market...where there is affluence there is demand for the brand.
Debra Borchardt: What is your outlook for 2013? Are you feeling optimistic? Are you concerned?
Morris Goldfarb: We're optimistic. We have many different areas of business. We have areas of business that support the needs of Wal-Mart (WMT)and we have areas that go to Bergdorf Goodman. We believe that they are all important areas. We believe that this will be a good year for us and not necessarily a good year for the fashion industry or for consumer products. We are a strong company that's able to produce the right product at right price and correct the path very quickly. We operate as a small company and we're not classified as a small company. That is an advantage. --Written by Debra Borchardt in New York.>To contact the writer of this article, click here: Debra Borchardt. Follow @WallandBroad
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