NEW YORK — G-III Apparel Group Ltd. is set to make a splash in the luxury swim market by acquiring Vilebrequin from Netherlands-based private equity fund Fashion Fund I BV.
The deal is for a total purchase price of 85.5 million euros, or about $106.2 million, of which 70.5 million euros ($87.6 million) is in cash and another 15 million euros ($18.6 million) is in unsecured promissory notes, due Dec. 31, 2017, at an interest rate of 5 percent a year.
In addition, the agreement stipulates contingent future payments of up to 22.5 million euros ($27.9 million) based upon set performance objectives over the three years ending Dec. 31, 2015, which could make the total deal worth up to $134.1 million.
“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,” said Morris Goldfarb, chairman and chief executive officer of G-III Apparel Group. “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.”
Last year, Vilebrequin rang up sales of 45.1 million euros, or $55.9 million, with a substantial majority derived from the U.S. and Europe. There are currently 185 freestanding Vilebrequin stores and shops-in-shop around the world, with 60 owned and 125 franchised. France is the brand’s largest market, with 20 company-owned stores, followed by the U.S. with 16 stores and Italy with 13 stores.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)