Lord Buddha And G-III Clothing Group Reach Alliance Plan

According to relevant information, Karl Lagerfeld plans to open stores this year, including five independent boutiques and shop outlets in the Middle East; a shop in Dusseldorf, Germany, plus a men's wear shop in Berlin and Hamburg, and a flagship store in Seoul is a temporary shop before taking the place.

The company may have 10 direct stores and three franchise stores in Europe at the end of the year, and is expected to have 40 stores in Greater China.

At the same time, in November, Karl Lagerfeld will expand its online business to 96 countries, mainly due to a new six year cooperation with Yoox Group, and Karl.com websites will be launched in Europe, the United States and Japan.

Karl Lagerfeld recently cooperated with G-III Apparel Group Ltd. of the apparel group and set up a joint venture to re expand into the US market and expand its brand business.

The two sides' cooperation plan will introduce a brand new Karl Lagerfeld Paris, focusing on women's clothing, handbags and men's coat series, which are located in the new "affordable luxury" category and the "customized" market in North America.

The initial allocation will focus on department stores, and the flagship store in New York will open as early as next year.

Group BV president and chief executive officer Pier Paolo Righi said in an exclusive interview, "we feel very confident that they have been a strong foothold from the beginning, and it may soon become our biggest foothold.

We see potential in some flagship stores. "

"We believe this is an opportunity for another capable brand. I can't think of a better brand than Karl Lagerfeld to fill this gap," said Morris Goldfarb, the company's chairman, CEO and CEO.

I don't think a woman is in fashion, but she doesn't know what he looks like.

I think they will be amazed at this man's talent and will follow his leadership in fashion. "

Morris Goldfarb has helped push the wholesale business of Calvin Klein to $1 billion.

In fact, the cooperation between the two companies is more to make use of the fame of Karl Lagerfeld, because he has very significant work experience in Chanel and Fendi, thus making use of the public's curiosity about his personal brand.

"I don't think there are any preconceived ideas and what styles should be worn," said Morris Goldfarb, chairman, chief executive officer and chief executive officer of G-III.

He explained that the plan is to pform his iconic DNA into products, which are commercially viable and profitable in the United States. Fashion and price are suitable for the target audience.

The series and more complete 2016 fall products will be held in November.

China unveiled, but for the specific retailer's name, Goldfarb declined to disclose. It only implied that "we have three retailers who are very supportive of us."

The Karl Lagerfeld brand was reintroduced in 2011 by Apax Partners, the largest private equity firm in Europe. The brand was originally dedicated to online sales, and then developed to European boutiques.

In 2013, the brand was first launched in China and began to develop in the Middle East last year.

According to relevant news, the brand new series will be developed under the leadership of Lagerfeld, and is working with creative teams in Paris and Amsterdam to provide products that are suitable for market and consumer related styles.

Among them, the series will follow the core business in Europe: ladies clothing, handbag series and men's coat series.

At present, the clothing line of Lagerfeld is mainly provided by Net-a-porter to American consumers. The authorized products include glasses, perfume and handbags, and will also be distributed to North America. The future flagship store will merge into a display space for Lagerfeld diversified products.

According to the joint venture agreement, the G-III company obtains 49% interest and becomes the first authorized party and obtains a renewal agreement of the original category product for a period of five years.

The paction covers all consumer and clothing products in the United States and Canada, except for products held by Karl Lagerfeld group, including eyeglasses, perfume, watches, jewelry and hotel services.

It also grants exclusive and royalty free licenses, which can be used on the same products in Mexico.

Karl Lagerfeld Group BV president and chief executive officer Pier Paolo Righi became a minority shareholder of Karl Lagerfeld brand last year.

Karl Lagerfeld earlier belonged to Tommy Hilfiger, and later the Tommy Hilfiger company was acquired by Phillips-Van Heusen (current PVH Corp.), but Karl Karl was not in that paction.