G-III Apparel Group is into leather, but not exclusively. The company is best known for making leather jackets under the G-III, Marvin Richards, Black Rivet, Winlit, Siena Studio, and other labels (such as Andrew Marc), as well as under licensed names. It also makes pants, skirts, and sportswear from leather and other materials. More than two-thirds of G-III's sales are generated from licensed apparel it makes for the NFL, NBA, NHL, and MLB teams, as well as for Jones New York, Nine West, and Kenneth Cole. The company's customers include department stores such as Macy's, Nordstrom, Lord & Taylor, and Kohl's.
Additionally, Buckingham Capital Management and FMR each hold about a 12% stake.
The company formed a joint venture with The Camuto Group to develop a chain of stores devoted to footwear and accessories operating under the Vince Camuto banner. The chain leverages G-III's retail infrastructure (real estate, distribution, information, and administrative systems), with Camuto providing its growing family of big-name brands, including Vince Camuto, Jessica Simpson, BCBG Max Azria, BCBGeneration, Kensiegirl, Lucky Brand, and Arturo Chiang. The first Vince Camuto store opened in early 2011.
Having been big in licensing for a decade, the company has inked several deals that maintain its strategy and revenue mix of licensed and non-licensed products. A particular purchase it has used as a foundation for this effort is its acquisition of Andrew Marc for $42 million in 2008. The deal gave G-III handbags and upscale specialty and department store distribution. Andrew Marc then entered a licensing agreement with Camuto to make and market women's footwear under the Andrew Marc and Marc New York brands. G-III's Jessica Howard license extends its reach into dresses with its Jessica Howard and Eliza J names. G-III's purchase of Industrial Cotton also expanded its junior denim products. The purchases also gave G-III a foothold in new retail outlets, with the brands selling in Dillard's, Nordstrom, Sears, Kohl's, and Coldwater Creek, among others.
Beyond the department store channel, G-III operates about 120 retail stores, most of which are outlet stores. The company's retail business generated about 16% of its sales in 2010. G-III had extended its reach into retail in 2008, when the apparel wholesaler acquired the Wilsons The Leather Experts' outlet stores, as well as the Wilsons brand name and distribution center operations for about $22 million. The move represented G-III's effort to boost its retail presence.
G-III conducts most of its business in the US, with 98% of its revenue generated within the country's borders. Its products are produced by independent manufacturers, however, located primarily in China, as well as in India, Indonesia, Sri Lanka, Taiwan, Thailand, Vietnam, and Central and South America. Some of its garments are made in the US.
Chairman and CEO Morris Goldfarb and investment firm FMR LLC each own about 15% of G-III's shares. Royce & Associates owns about 10%.