G-III Apparel Group Ltd. jumped into the outlet business Tuesday, paying $22.3 million to acquire the Wilsons The Leather Experts Inc. name and operations at 116 outlet stores.
The cash deal, disclosed after the market closed Tuesday, also included $18.5 million in inventory, distribution center operations and other trademarks and trade names. Joel Waller, Wilsons' former chief executive officer and ceo at The Wet Seal Inc. until stepping down in September, will return as president of G-III's new outlet division.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"