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Slide #64. G-III Apparel Group, Ltd. — G.H. Bass & Co. Business
G-III Apparel Group, Ltd. (NASDAQ:GIII)
G.H. Bass & Co. Business
PVH Corp. [NYSE:PVH] announced today that it has signed a definitive agreement to sell substantially all of the assets of its G.H. Bass & Co. division to G-III Apparel Group, Ltd. [NasdaqGS:GIII] for approximately $50 million in cash. The transaction is expected to close in the beginning of the fiscal fourth quarter 2013 and is subject to certain post-closing adjustments and customary closing conditions.
G-III Apparel Group designs, sources and markets a range of apparel, including outerwear, dresses, sportswear, swimwear, women's suits and women's performance wear, as well as women's handbags, footwear, small leather goods, cold weather accessories and luggage. Co. sells products under a portfolio of licensed brands, including Calvin Klein, Tommy Hilfiger, Karl Lagerfeld Paris, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Levi's and Dockers. Co. also sells its products over the web through retail partners such as macys.com and nordstrom.com, each of which has an online business. In addition, Co. sells to pure play online retail partners such as Amazon and Fanatics.
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Hold (2.50 out of 4)