Property Types Retail
G-III Apparel Acquires Wilsons Leather Outlet Stores
July 10, 2008

New York-based G-III Apparel Group Ltd., a manufacturer and distributor of outerwear and sportswear under licensed brands, private labels and its own brands, announced that it has acquired certain assets of Wilsons The Leather Experts Inc., a Minneapolis-based national retailer of leather outerwear and accessories. The assets acquired included 116 outlet store locations, $18.5 million in inventory, distribution center operations and the Wilsons name and other related trademarks and trade names. G-III noted that the total purchase price for the assets acquired was approximately $22.3 million in cash. "We are excited about this acquisition, which will enable us to have a significant vertical retail operation," said Morris Goldfarb, G-III's chairman and CEO. "We expect to be able to leverage our strong portfolio of brands and our sourcing expertise to re-merchandise the Wilsons stores in order to improve sales and increase margins." Joel Waller, former CEO of Wilsons The Leather Experts, will return as president of G-III's outlet store division.

This article first appeared on www.ddimagazine.com, affiliated with Display and Design Ideas.

 
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