G-III Apparel reports strong Q1 earnings, announces partnership with AWWG for Iberian region

G-III Apparel announced on Thursday net sales for the first quarter of fiscal 2025, ended April 30, were $609.7 million compared to $606.6 million in the prior year’s quarter.

The New York-based company reported net income for the first quarter of $5.8 million, or $0.12 per diluted share, compared to $3.2 million, or $0.07 per diluted share, in the prior year’s quarter.

“We had a strong start to fiscal 2025, delivering first quarter earnings per diluted share well ahead of our expectations. Our performance was driven by double-digit increases in DKNY and Karl Lagerfeld along with a successful relaunch of Donna Karan, reflecting our commitment to investing in our owned brands and our ability to meet the ever-changing needs of our consumers,” said Morris Goldfarb, G-III’s chairman and chief executive officer. 

Looking ahead, the company said it is raising its full year earnings per share guidance for fiscal 2025 and expects net income between between $170.0 million and $175.0 million, or between $3.58 and $3.68 per diluted share, with net sales of approximately $3.20 billion. 

For the second quarter of fiscal 2025, the company expects net sales of approximately $650.0 million compared to $659.8 million in the same period last year. Net income is expected to be in the range of $10.0 million and $15.0 million, or $0.22 and $0.32 per share.

Coinciding with the earnings results, the U.S. firm announced a strategic partnership and investment in All We Wear Group, acquiring approximately a 12% ownership stake. The firms latest partnership solidifies AWWG as the exclusive agent for G-III’s brands, DKNY, Donna Karan, and Karl Lagerfeld, across Spain and Portugal.

This partnership aims to unlock new growth opportunities in Europe for G-III’s brands and leverage AWWG’s established presence in India to expand DKNY and other key brands. G-III will, in turn, support AWWG’s expansion into North America with its operational capabilities.

AWWG, based in Madrid and backed by M1 Group, LCatterton, and founder Carlos Ortega, is a premier platform for international brands like Hackett, Pepe Jeans, and Façonnable.

“I am also excited to announce our partnership and investment in AWWG, a global fashion group and premier platform for iconic international brands, which furthers a number of our strategic priorities. Looking ahead, we remain cautiously optimistic and are reaffirming our fiscal year 2025 net sales and raising our guidance for net income per diluted share,” added Goldfarb.