G-III Apparel Group, Ltd. (GIII): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la mode et des vêtements, G-III Apparel Group, Ltd. (GIII) se distingue comme une puissance stratégique, naviguant magistralement dans le paysage complexe de la licence de marque, du design et de la distribution multicanal. En tirant parti d'un modèle commercial innovant qui s'étend des grands magasins haut de gamme aux plateformes de commerce électronique de pointe, GIII s'est transformé en un conglomérat de mode polyvalent qui mélange de manière transparente des marques emblématiques comme Calvin Klein et Tommy Hilfiger avec une approche sophistiquée de la segmentation des marchés de marché et l'engagement des consommateurs.

G-III Apparel Group, Ltd. (GIII) - Modèle commercial: partenariats clés

Marques de mode agréées

G-III Apparel Group conserve des accords de licence avec les marques suivantes:

Marque	Détails de licence	Contribution annuelle des revenus
Calvin Klein	Licence mondiale de vêtements d'extérieur et de vêtements	425,7 millions de dollars (2023)
Tommy Hilfiger	Licence mondiale de vêtements d'extérieur	380,2 millions de dollars (2023)
Dkny	Licence complète de la gamme de produits	156,5 millions de dollars (2023)

Partenaires de vente au détail

Les principaux canaux de distribution de vente au détail comprennent:

• Macy's: 198,3 millions de dollars de ventes (2023)
• Nordstrom: 142,6 millions de dollars de ventes (2023)
• Amazon: 87,4 millions de dollars en ventes en ligne (2023)
• Walmart: 76,9 millions de dollars de ventes (2023)

Installations de fabrication

Les partenariats de fabrication de G-III:

Pays	Nombre d'installations	Capacité de production
Chine	12 installations partenaires	65% de la production totale
Vietnam	6 installations partenaires	22% de la production totale
Bangladesh	4 installations partenaires	13% de la production totale

Collaborations de conception

Partenariats de conception notables en 2023:

• Karl Lagerfeld Collaboration: 45,2 millions de dollars de revenus
• Vince Camuto Design Partnership: 38,7 millions de dollars de revenus
• Marc New York Designer Series: 29,5 millions de dollars de revenus

Acquisitions stratégiques

Acquisitions récentes complémentaires de sociétés de vêtements:

Entreprise	Date d'acquisition	Coût d'acquisition
Cuir de wilsons	2019	87,3 millions de dollars
Division des vêtements Bass Pro Shops	2021	125,6 millions de dollars

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: activités clés

Conception et développement de vêtements de mode

G-III Apparel Group maintient une équipe de conception interne chargée de créer des collections sur plusieurs marques. En 2023, l'entreprise employait environ 150 professionnels du design.

Métriques de l'équipe de conception	2023 données
Total des professionnels du design	150
Collections de conception annuelles	12-15
Centres de conception	New York, Los Angeles

Licence et gestion de marque

G-III gère plusieurs marques agréées avec des partenariats stratégiques.

• Calvin Klein
• Tommy Hilfiger
• Dkny
• Lévi's
• Cole Haan

Source des produits et optimisation de la chaîne d'approvisionnement

G-III utilise des stratégies d'approvisionnement mondiales avec la fabrication principalement en Asie.

Région d'approvisionnement	Pourcentage de production
Chine	45%
Vietnam	25%
Bangladesh	15%
Autres pays	15%

Marketing et distribution des lignes de vêtements

G-III utilise des stratégies de marketing multicanaux sur les plateformes numériques et traditionnelles.

• Plates-formes de commerce électronique
• Marketing de partenaire de vente au détail
• Campagnes de médias sociaux
• Présentations de la semaine de la mode

Gestion des canaux de vente au détail et en gros

G-III opère à travers divers canaux de distribution avec une présence en gros significative.

Canal de distribution	Pourcentage de revenus (2023)
De gros	72%
Direct à consommateur	28%

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: Ressources clés

Portfolio solide de marques de mode possédées et agréées

Depuis 2024, G-III Apparel Group possède et licence plusieurs marques de mode:

Marques possédées	Marques sous licence
Dkny	Calvin Klein
Donna Karan	Tommy Hilfiger
Cuir de wilsons	Deviner

Équipes de conception et de développement de produits

G-III emploie environ 1 200 professionnels de conception et de développement de produits dans plusieurs emplacements.

• Équipe de conception du siège de New York: 350 professionnels
• Centres de conception internationaux: 450 professionnels
• Équipes de développement de produits spécialisés: 400 professionnels

Réseaux de fabrication et d'approvisionnement

Empreinte de fabrication mondiale avec des relations d'approvisionnement stratégique:

Région	Installations de fabrication	Pourcentage de production
Asie	45	68%
Amérique centrale	15	22%
Autres régions	10	10%

Infrastructure de distribution

Les capacités de distribution comprennent:

• 3 centres de distribution majeurs
• Espace total d'entrepôt: 1,2 million de pieds carrés
• Capacité logistique annuelle: 50 millions d'unités

Relations de vente au détail et en gros

Réseau de vente au détail et de gros:

Canal	Nombre de partenaires	Volume des ventes annuelles
Grands magasins	75	850 millions de dollars
Détaillants spécialisés	120	650 millions de dollars
Détaillants en ligne	50	350 millions de dollars

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: propositions de valeur

Portfolio de marque de mode diversifiée

G-III Apparel Group gère un portefeuille de 16 marques possédées et sous licence En 2023, notamment:

• Dkny
• Calvin Klein
• Tommy Hilfiger
• Lévi's
• Cole Haan

Catégorie de marque	Segment de marché	Contribution des revenus
Marques sous licence	Moyen à premium	67% des revenus totaux
Marques possédées	Divers prix	33% des revenus totaux

Collections de haute qualité et tendance

Investissements annuels totaux de conception: 42,3 millions de dollars en 2023.

Stratégie de tarification compétitive

Fourchette	Catégories de produits
$50-$150	Tenue décontractée
$150-$300	Vêtements professionnels
$300-$500	Vêtements d'extérieur premium

Diversité de la gamme de produits

Répartition des catégories de produits:

• Vêtements d'extérieur: 42%
• Robes: 22%
• Vêtements de sport: 18%
• Accessoires: 12%
• Autre: 6%

Approche de vente multicanal

Canal de vente	Pourcentage de revenus
De gros	76%
Vente au détail	18%
Commerce électronique	6%

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: relations avec les clients

Engagement direct via les sites Web de la marque

G-III Apparel Group exploite plusieurs plates-formes de commerce électronique spécifiques à la marque, notamment:

Marque	Trafic de site Web (annuel)	Taux de conversion des ventes en ligne
Dkny	1,2 million de visiteurs uniques	3.7%
Calvin Klein	2,5 millions de visiteurs uniques	4.2%
Tommy Hilfiger	3,1 millions de visiteurs uniques	4.5%

Programmes de marketing et de fidélité personnalisés

G-III met en œuvre des stratégies de marketing ciblées avec les mesures suivantes:

• Base de données de marketing par e-mail: 4,6 millions d'abonnés
• Taux de rétention de clientèle moyen: 62%
• Adhésion au programme de fidélité: 1,3 million de membres actifs
• Taux de conversion de recommandation personnalisée: 5,8%

Interaction des médias sociaux et commentaires des clients

Plateforme de médias sociaux	Abonnés	Taux d'engagement
Instagram	2,1 millions	3.2%
Facebook	1,7 million	2.9%
Gazouillement	0,8 million	1.5%

Service client réactif

Métriques de performance du service client:

• Temps de réponse moyen: 2,3 heures
• Évaluation de satisfaction du client: 4.6 / 5
• Temps de résolution de retour: 48 heures
• Canaux d'assistance: téléphone, e-mail, chat en direct, médias sociaux

Expérience d'achat omnicanal

Canal	Pourcentage de ventes	Préférence du client
Vente au détail en ligne	38%	Haut
Magasins de vente au détail physique	47%	Moyen
De gros	15%	Faible

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: canaux

Grands magasins

G-III Apparel Group distribue par le biais de grands partenaires des grands magasins, notamment:

Détaillant	Détails du canal de vente
Macy	Partenaire de distribution de gros primaire avec environ 250 millions de dollars de ventes annuelles
Nordstrom	Une relation de gros significative représentant environ 100 millions de dollars de revenus annuels
Dillard	Channel de distribution en gros générant environ 75 millions de dollars par an

Plateformes de vente au détail en ligne

G-III exploite plusieurs canaux de vente numériques:

• Market Amazon
• Zapon
• Walmart.com
• Cible.com

Sites Web de commerce électronique appartenant à l'entreprise

Les plates-formes numériques directes aux consommateurs comprennent:

• Dkny.com
• Plate-forme numérique Calvin Klein
• Boutique en ligne de Tommy Hilfiger

Détaillants spécialisés

Type de détaillant	Volume des ventes annuelles
Magasins de spécialité de mode	175 millions de dollars
Détaillants à prix réduit	125 millions de dollars

Réseaux de distribution en gros

Mesures clés de distribution de gros:

• Revenu total de gros: 2,4 milliards de dollars (2023 Exercice)
• Distribution internationale en gros dans 15 pays
• Plus de 5 000 points de distribution de vente au détail dans le monde entier

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: segments de clientèle

Jeunes femmes professionnelles

G-III Apparel Group cible les femmes professionnelles de 25 à 40 ans avec une fourchette de revenus annuelle de 65 000 $ - 120 000 $. Le segment de marché représente environ 22% du chiffre d'affaires total de la société.

Tranche d'âge	Tranche de revenu	Part de marché
25-40 ans	$65,000 - $120,000	22%

Milléniaux conscients de la mode

Le segment de clientèle du millénaire âgé de 22 à 38 ans représente 28% de la clientèle totale de G-III. Dépenses moyennes par client: 342 $ par an.

• Tranche d'âge: 22-38 ans
• Pourcentage de base de clientèle: 28%
• Dépenses annuelles moyennes: 342 $

Consommateurs de prix de milieu de gamme

Les clients ciblant les segments de luxe abordables avec un prix du produit se situent entre 79 $ et 299 $. Ce segment représente 35% des revenus totaux.

Fourchette	Contribution des revenus	Catégories de produits
$79 - $299	35%	Vêtements d'extérieur, robes, vêtements décontractés

Acheteurs de vêtements d'entreprise et décontractés

Le segment des vêtements d'entreprise et occasionnel génère 487 millions de dollars de revenus annuels, ce qui représente 40% des ventes totales de G-III.

• Revenu annuel: 487 millions de dollars
• Pourcentage des ventes totales: 40%
• Marques clés: Calvin Klein, Tommy Hilfiger

Segments internationaux du marché de la mode

Les marchés internationaux contribuent 18% des revenus totaux de G-III, avec une présence la plus forte au Canada, en Europe et sélectionnant les marchés asiatiques.

Région	Contribution des revenus	Taux de croissance
Canada	7%	4.2%
Europe	6%	3.8%
Asie	5%	3.5%

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: Structure des coûts

Dépenses de conception et de développement des produits

Pour l'exercice 2023, G-III Apparel Group a déclaré des frais de conception et de développement de produits de 37,2 millions de dollars, ce qui représente environ 2,1% des revenus totaux.

Exercice fiscal	Conception & Frais de développement	Pourcentage de revenus
2023	37,2 millions de dollars	2.1%
2022	34,5 millions de dollars	1.9%

Coûts de fabrication et d'approvisionnement

Les coûts de fabrication et d'approvisionnement de G-III pour l'exercice 2023 ont totalisé 912,6 millions de dollars, avec une partie importante de la production externalisée aux fabricants internationaux.

• Emplacements de fabrication primaires: Chine, Vietnam, Bangladesh
• Coût de fabrication estimé par unité: 15 $ à 45 $ selon la catégorie des produits

Région de fabrication	Pourcentage de production
Chine	45%
Vietnam	35%
Bangladesh	20%

Investissements marketing et publicitaire

Les dépenses de marketing pour l'exercice 2023 étaient de 84,3 millions de dollars, ce qui représente 4,8% des revenus totaux.

Canal de marketing	Pourcentage du budget marketing
Marketing numérique	45%
Médias traditionnels	30%
Promotions de vente au détail	25%

Dépenses de distribution et de logistique

Les coûts de distribution et de logistique pour l'exercice 2023 s'élevaient à 156,7 millions de dollars, ce qui comprend l'entreposage, le transport et la réalisation des commandes.

• Coût d'expédition moyen par commande: 8,50 $
• Nombre de centres de distribution: 6

Frais de licence de marque

Les dépenses de licence de marque pour l'exercice 2023 étaient de 42,5 millions de dollars, couvrant les partenariats avec plusieurs marques de mode et de style de vie.

Marque sous licence	Gamme de frais de licence
Calvin Klein	18 à 22 millions de dollars
Tommy Hilfiger	15-19 millions de dollars
Autres marques	5-6 millions de dollars

G-III Apparel Group, Ltd. (GIII) - Modèle d'entreprise: Strots de revenus

Ventes de vêtements en gros

Pour l'exercice 2023, G-III Apparel Group a annoncé des ventes de vêtements en gros de 2,47 milliards de dollars. La société distribue des vêtements par le biais de grands détaillants, notamment:

• Macy
• Nordstrom
• Dillard
• Cible

Marque	Revenus de gros (2023)
Calvin Klein	752 millions de dollars
Tommy Hilfiger	685 millions de dollars
Dkny	312 millions de dollars

Revenus de vente au détail directement aux consommateurs

Les revenus directs aux consommateurs pour l'exercice 2023 étaient de 745,8 millions de dollars, ce qui représente 15,2% du total des revenus de l'entreprise.

Revenu de licence de marque

Les licences de marque ont généré 87,4 millions de dollars de revenus pour l'exercice 2023.

Ventes de plate-forme de commerce électronique

Les ventes de commerce électronique ont atteint 215,6 millions de dollars au cours de l'exercice 2023, avec un Croissance de 36% sur l'autre.

Revenus d'expansion du marché international

Les ventes internationales ont totalisé 312,5 millions de dollars au cours de l'exercice 2023, avec les marchés primaires, notamment:

• Canada
• Europe
• Région Asie-Pacifique

Région	Contribution des revenus
Canada	89,7 millions de dollars
Europe	142,3 millions de dollars
Asie-Pacifique	80,5 millions de dollars

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Value Propositions

You're looking at the core value G-III Apparel Group, Ltd. (GIII) delivers right now, which is built on a foundation of brand breadth and a strategic pivot toward higher-quality revenue streams.

Multi-brand, multi-category portfolio across diverse price points

G-III Apparel Group, Ltd. (GIII) offers a portfolio spanning over 30 preeminent brands, balancing owned labels and extensive licensing agreements. You see this diversity across apparel, accessories, and footwear categories. The company owns ten iconic brands, including DKNY, Karl Lagerfeld, Donna Karan, and Vilebrequin, while licensing over 20 brands, such as Converse, Nautica, and Halston. For the full Fiscal Year 2025, G-III Apparel Group reported net sales of $3.18bn.

The value proposition here is market coverage; they cater to a wide spectrum of consumer needs through this breadth.

• Owned Brands: 10 iconic labels.
• Licensed Brands: Over 20 names in the portfolio.
• FY2025 Net Sales: $3.18bn.

Transforming business model toward higher-margin, controllable owned brands

The strategic shift is about moving away from lower-margin licensed products to more profitable, controllable assets. The 'go-forward portfolio,' which is primarily the owned brands, is expected to approach approximately 70% of total net sales. This focus is already showing results; in Q1 of Fiscal 2026, key owned brands like DKNY, Karl Lagerfeld, and Donna Karan fueled double-digit growth, which helped offset sales declines from exited licenses. In Fiscal Year 2025, profitability improved as gross profit climbed to $1.29bn, up from $1.24bn the prior year, reflecting this margin expansion.

Portfolio Component	FY2023 (Approximate Share)	FY2025 (Reported/Expected Share)
Go-Forward Portfolio (Owned Brands Focus)	Less than 50%	Approaching 70% of total net sales
Calvin Klein & Tommy Hilfiger Licenses	More than 50%	Approximately -34% of overall revenue

The math shows the transition: owned brands are becoming the majority of the business. This is a clear value proposition for margin stability.

Comprehensive lifestyle offering in apparel, accessories, and footwear

G-III Apparel Group, Ltd. (GIII) delivers a full lifestyle offering, not just single-category items. For instance, DKNY saw double-digit sales growth in Q1 Fiscal 2026, with key categories like jeans, athleisure, handbags, swim, and outerwear all outperforming. This comprehensive approach ensures the brand ecosystem captures more consumer spend per customer.

Speed-to-market improvements via 3D design and AI-enabled processes

To stay competitive, G-III Apparel Group, Ltd. (GIII) is investing in operational efficiency, specifically through technology upgrades. This includes the use of 3D design tools and AI-enabled processes aimed at improving speed-to-market. The company is defining a composable architecture to reuse business service modules for critical functions. The broader 3D fashion design software market itself is valued at $13.13 billion in 2025, highlighting the industry trend G-III Apparel Group, Ltd. (GIII) is adopting.

Reinvigorating heritage brands like Donna Karan for a new consumer

A key value driver is the successful revitalization of heritage brands for modern relevance. The Donna Karan relaunch has been described as 'incredibly successful' and was a driver of double-digit growth in Q1 Fiscal 2026. The company sees a long-term potential of $1 billion in annual sales for Donna Karan. To support this, G-III Apparel Group, Ltd. (GIII) anticipated approximately $60.0 million in incremental expenses for Fiscal 2025, with about 65% of that dedicated to marketing initiatives supporting Donna Karan and DKNY.

• Donna Karan Long-Term Sales Potential: $1 billion annually.
• FY2025 Marketing Spend Allocation to Donna Karan/DKNY: Approximately 65% of the $60.0 million in incremental launch expenses.

Finance: draft 13-week cash view by Friday.

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Customer Relationships

You're looking at how G-III Apparel Group, Ltd. (GIII) connects with its customers as of late 2025, which is heavily influenced by the shift toward its owned brands.

Brand building through targeted digital marketing and influencer campaigns

G-III Apparel Group, Ltd. has been making significant marketing investments to build out its go-forward portfolio, which was expected to approach approximately 70% of total net sales for Fiscal Year 2025. The company's owned brands, including DKNY, Karl Lagerfeld, and Donna Karan, saw over 20% growth in Fiscal Year 2025.

Specific brand-building efforts include:

• Campaigns such as DKNY's "New York Stories".
• Donna Karan's "Reflections on Women" campaigns.
• The Karl Lagerfeld brand reached $500 million in net sales (based on prior year/outlook).

Updated loyalty programs and advanced Customer Relationship Management (CRM)

G-III Apparel Group, Ltd. has been focused on enhancing its digital infrastructure to deepen customer ties. This includes efforts to upgrade e-commerce platforms for brands like DKNY and Karl Lagerfeld Paris with advanced CRM systems and updated loyalty programs. While G-III Apparel Group, Ltd.'s specific loyalty program metrics aren't public, industry trends show that the clothing and fashion sector leads in loyalty, with 54% of respondents expressing loyalty to brands in this sector. Furthermore, 80% of loyalty program owners plan to increase or significantly increase their investments in customer loyalty over the next three years.

Here's a look at some relevant industry statistics for context:

Metric Category	Data Point	Source Context
Loyalty Program Investment Intent (Owners)	80% plan to increase investment	Next three years
Fashion Brand Loyalty Rate (Consumers)	54% express loyalty	Clothing & fashion industry lead
Average Loyalty Program Activity Rate	59%	Annual activity across programs
Millennial Brand Loyalty Rate	73%	Highest of any generation

Strong, long-term relationships with wholesale retail partners

The wholesale channel remains a core part of G-III Apparel Group, Ltd.'s structure, distributing products to major department stores and specialty retailers. The company serves approximately 1,600 retail partners globally. For the fourth quarter of Fiscal Year 2025, the Wholesale Segment generated net sales of $799 million. The company ended Fiscal Year 2025 with a strong cash position, ending the year with cash and availability of over $775 million, which supports strong partner financing and inventory management.

Direct engagement via owned e-commerce and retail stores

Direct-to-consumer (DTC) operations are a key focus, with G-III Apparel Group, Ltd. operating over 500+ retail stores, both company and partner operated. The Retail Segment posted net sales of $56 million in the fourth quarter of Fiscal Year 2025. The focus on improving this segment's profitability is evident, as the Retail Segment Margin reached 53.5% in the first quarter of Fiscal Year 2026, driven by merchandising and strong digital sales of high-AUR Donna Karan products.

Owned e-commerce platforms include dedicated retail websites for brands like DKNY, Karl Lagerfeld (KL/KLP), and Vilebrequin (VBQ). The total Fiscal Year 2025 Global Revenue for G-III Apparel Group, Ltd. was $3.18 billion.

Finance: draft 13-week cash view by Friday.

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Channels

The distribution strategy for G-III Apparel Group, Ltd. relies on a multi-channel approach, with a clear pivot toward owned brands and a strong emphasis on wholesale partnerships.

Wholesale Operations: Primary channel to department stores and mass retailers

Wholesale remains a core component of G-III Apparel Group, Ltd.'s distribution. For the third quarter of fiscal 2025, the Wholesale Segment generated net sales of $1.07 billion. This figure reflects strong growth in owned brands, which partially offset the planned decline from the transition away from the Calvin Klein and Tommy Hilfiger licenses. The company's go-forward portfolio, which includes its owned and continuing licensed brands, is projected to approach 70% of total net sales for the full fiscal year 2025. The full fiscal year 2025 net sales for G-III Apparel Group, Ltd. were reaffirmed at $3.2 billion.

The relative contribution of the wholesale channel to recent sales is illustrated below, using available segment data:

Channel Segment	Reported Period	Net Sales Amount
Wholesale Segment	Q3 Fiscal 2025	$1.07 billion
Retail Segment (Owned Stores & E-commerce)	Q3 Fiscal 2025	$42 million
Retail Segment (Owned Stores & E-commerce)	Q2 Fiscal 2025	$37 million

Retail Operations: Owned stores (Wilsons Leather, G.H. Bass, DKNY)

G-III Apparel Group, Ltd. has significantly restructured its physical retail footprint to focus on profitability, moving away from its larger legacy store base. Historically, the company closed all 110 Wilsons Leather and 89 G.H. Bass stores as part of a major restructuring effort. Following that process, the remaining owned physical retail operations were concentrated on its key brands. As of the last reported operational context following that restructuring, G-III Apparel Group, Ltd. was left with 41 DKNY and 13 Karl Lagerfeld Paris stores. The Retail Segment, which includes owned stores and e-commerce, reported net sales of $42 million in the third quarter of fiscal 2025, showing an increase from $33 million in the prior year's third quarter.

Owned e-commerce platforms for key brands like DKNY and Karl Lagerfeld Paris

The e-commerce operations are integrated within the Retail Segment figures above, but the company maintains dedicated online platforms for its key owned brands. The company noted that the e-Commerce businesses for DKNY, Donna Karan, Karl Lagerfeld Paris, Andrew Marc, Wilsons Leather, and G.H. Bass remained in operation following the physical store closures. The momentum of key owned brands like DKNY and Karl Lagerfeld is a major driver, with both collectively growing double-digits in the second quarter of fiscal 2025.

Global distribution network, expanding in Spain and Portugal via AWWG

G-III Apparel Group, Ltd. is actively scaling its European business through a strategic partnership with All We Wear Group (AWWG). G-III acquired an initial ownership stake of approximately 12% in AWWG, which was later increased to 19%. Under this agreement, AWWG acts as the agent for G-III's owned brands-DKNY, Donna Karan, and Karl Lagerfeld-across the markets of Spain and Portugal. AWWG itself is a substantial platform, generating over $650 million in revenues across more than 3,500 points of sale in over 86 countries. G-III also plans to leverage AWWG's presence in India to expand its key brands there.

Key metrics related to the AWWG international channel expansion:

• Ownership stake in AWWG: 19%.
• AWWG Annual Revenue: Over $650 million.
• AWWG Points of Sale: Over 3,500.
• Geographic Reach of AWWG: Over 86 countries.
• G-III Brands under AWWG Agency: DKNY, Donna Karan, and Karl Lagerfeld in Spain and Portugal.

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Customer Segments

G-III Apparel Group, Ltd. serves a wide array of customers, from those seeking accessible luxury and contemporary fashion to dedicated sports fans. The company's portfolio, which includes ten owned brands and licenses for over 20 brands, allows it to touch many different consumer touchpoints.

The focus is clearly shifting toward the owned brands, which are seen as higher-margin contributors. Key owned brands like DKNY, Karl Lagerfeld, Donna Karan, and Vilebrequin drove over 20% growth in fiscal 2025. This momentum continued into the first quarter of fiscal 2026, with DKNY, Karl Lagerfeld, and Donna Karan showing double-digit growth. The Karl Lagerfeld brand previously reached $500,000,000 in net sales. The strategy is to have the 'go-forward portfolio' (owned and strategic licenses) approach approximately 70% of total net sales.

The wholesale channel remains a core customer base, though it is navigating transitions away from certain major licenses. The Wholesale Operations segment reported net sales of $563,000,000 for the first quarter of fiscal 2026, down from $598,000,000 in the first quarter of fiscal 2025. This channel includes sales to department stores, specialty stores, and off-price retailers.

Customers tied to licensed brands are also significant, though the company is strategically managing the wind-down of certain agreements. The Calvin Klein and Tommy Hilfiger brands, which are being transitioned out, constituted approximately -34% of overall revenue in fiscal 2025, a decrease from over 50% two years prior. The exit of the Calvin Klein jeans and sportswear license alone represented $175,000,000 in sales in the first quarter of fiscal 2025. The licensed segment also includes partnerships for National Sports leagues, catering directly to sports fans for team apparel.

Here is a look at the financial scale of the primary segments based on the latest reported periods:

Segment/Brand Focus	Metric/Period	Amount/Value
Total Net Sales (FY 2025)	Full Fiscal Year Ended January 31, 2025	$3,180,000,000
Go-Forward Portfolio Sales	FY 2025 Target Percentage of Total Sales	~70%
Wholesale Segment	Q1 Fiscal 2026 Net Sales	$563,000,000
Wholesale Segment	Q1 Fiscal 2025 Net Sales	$598,000,000
Retail Segment	Q1 Fiscal 2026 Net Sales	$36,000,000
Owned Brands Growth	Fiscal 2025 Growth Rate	>20%
CK/TH Licensed Brands Contribution	Fiscal 2025 Percentage of Revenue	~34%

The customer base is segmented across these channels, with the company owning ten iconic brands and licensing over 20 others. The company is also developing new initiatives, such as the Nautica Jeans Collection and Halston lifestyle collection.

• Diverse consumers seeking accessible luxury and contemporary fashion.
• Younger consumers targeted for owned brands like DKNY and Karl Lagerfeld.
• Wholesale partners (department stores, specialty stores, off-price retailers).
• Licensed brand customers (e.g., sports fans for team apparel via National Sports leagues).

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving the G-III Apparel Group, Ltd. (GIII) cost base as of late 2025. It's all about managing the cost of goods and scaling up brand investment, so let's look at the figures directly.

The Cost of Goods Sold (COGS) is inherently tied to the gross margin performance across the business segments. For the third quarter of fiscal year 2025, G-III Apparel Group, Ltd. reported net sales of $1.09 billion. The overall gross margin for that quarter settled at 39.8%. This means the direct cost associated with those sales-the COGS for manufacturing and sourcing apparel-was approximately $656.18 million for the quarter, calculated as $1.09 billion multiplied by (1 - 0.398). To be fair, the wholesale segment's gross margin was 38.4% in that same quarter, while the retail operation segment achieved a higher gross margin of 52.3%.

Here's a quick view of the major cost drivers we see reflected in the fiscal 2025 outlook and recent reporting:

Cost Component	Period/Context	Amount
Incremental Expenses (Total)	FY2025 Outlook	Approximately $55.0 million
Non-GAAP SG&A Expenses	Q3 FY2025	$259 million
Asset Impairments (Non-GAAP Excl.)	FY2025	$8.2 million
One-Time Severance Expenses (Non-GAAP Excl.)	FY2025	$1.9 million
Total Identified Impairments/Severance	FY2025	$10.1 million

Significant marketing and brand-building expenses are a key planned cost. The full fiscal year 2025 guidance included approximately $55.0 million in incremental expenses, earmarked for launches like Donna Karan, Nautica, and Halston. Honestly, about 60% of that spend is directed toward marketing initiatives supporting the Donna Karan and DKNY brands. The remaining costs are principally for talent and technology upgrades to expand operational capabilities.

Selling, General, and Administrative (SG&A) expenses, when viewed on a Non-GAAP basis for the third quarter of fiscal 2025, totaled $259 million. This was an increase from $234 million in the prior year's third quarter, driven by those higher marketing investments and talent/technology expansion.

For operating costs related to infrastructure, we see capital expenditures projected for fiscal 2025 at approximately $50.0 million. This spend is higher than previous years, principally driven by the buildouts of shop-in-shops for new brand launches and investments in new technology to support the business.

One-time, non-recurring costs factored into the full-year non-GAAP adjustments include specific charges that you need to isolate for true operational comparison. For fiscal 2025, these non-GAAP exclusions included:

• Asset impairments totaling $8.2 million.
• One-time severance expenses of $1.9 million related to a closed warehouse.

The aggregate of these two specific items alone is $10.1 million for the fiscal year. Finance: draft 13-week cash view by Friday.

G-III Apparel Group, Ltd. (GIII) - Canvas Business Model: Revenue Streams

You're looking at the core ways G-III Apparel Group, Ltd. brings in money, which is really about balancing their owned brands with their wholesale relationships and licensing deals. It's a multi-channel approach, but the numbers show a clear strategic pivot happening.

The overall top line for the most recently completed fiscal year, which ended January 31, 2025, hit a solid number. Total Net Sales for fiscal year 2025 reached $3.18 billion, showing growth compared to the prior year's $3.10 billion. This growth is happening while G-III Apparel Group, Ltd. is intentionally managing the wind-down of certain major third-party licenses.

The revenue streams break down into a few key areas, with a clear emphasis on the company's proprietary assets. The strategic focus is on the Go-Forward Portfolio, which includes their owned brands, expected to approach approximately 70% of total net sales for fiscal 2025.

Here's a look at the components, using the most granular segment data available from the second quarter of fiscal 2025 as a snapshot of the channel split:

Revenue Stream Component	Latest Available Data Point (Q2 FY2025)	Full Fiscal Year 2025 Result
Total Net Sales	$645 million	$3.18 billion
Net Sales from Wholesale Operations	$620 million	Not explicitly stated separately for full year
Net Sales from Retail Operations	$37 million	Not explicitly stated separately for full year
Owned/Go-Forward Brands Contribution Proxy	N/A	Expected to approach 70% of total net sales

Net Sales from Wholesale Operations remains the majority of the revenue base, moving hundreds of millions each quarter. For instance, in the second quarter of fiscal 2025, wholesale sales were $620 million. This channel serves department stores and specialty retailers, which is the traditional backbone of G-III Apparel Group, Ltd.'s business.

Net Sales from Retail Operations, covering owned stores and e-commerce, is smaller but strategically important for brand control. Retail segment net sales for the second quarter of fiscal 2025 were $37 million, up from $34 million in the prior year's second quarter, even with store closures. This channel helps build direct consumer relationships.

Revenue from owned brands like DKNY and Donna Karan is a major driver of organic growth. Management noted that key owned brands delivered double-digit organic growth in the third quarter of fiscal 2025. The company sees a long-term potential of $1 billion in annual sales just for the Donna Karan brand. This push is critical as the company transitions out of licenses like Calvin Klein and Tommy Hilfiger.

Licensing revenue from third-party brand agreements and sports leagues contributes to the overall top line, though the specific dollar amount for this stream isn't broken out separately from the wholesale or owned brand segments in the top-line reporting. However, the success of the owned brands is explicitly intended to offset the reduced sales from the licenses they are exiting. G-III Apparel Group, Ltd. did announce a new global apparel license for the Converse brand in Q2 2025, indicating continued activity in this revenue stream.

You should keep an eye on the mix shift; the success of the owned brands is the primary lever for margin expansion and sustainable growth moving forward.

Finance: draft reconciliation of Q2 segment sales to implied full-year split by end of next week.