G-III Apparel expects growth of nearly 12% in 2015
The American company, which holds fashion licenses for Calvin Klein, Cole Haan and Ivanka Trump and which owns Villebrequin and Andrew Marc, has just finished up a solid 2014 fiscal year (ending on January 31) that saw its net sales increase by 23% compared to 2013. They reached 2,117 billion dollars. For its current year, management is aiming for 2.37 billion dollars.
The increase was driven by the organic growth of its licensing business for brands such as Levi's, Tommy Hilfiger, Jones New York and Vince Camuto. But the contribution of the brand G.H. Bass, which was acquired in late 2014, and its brands Villebrequin (which will open a new store in Paris on rue des Rosiers in the Marais (4th arrondissement)) and Andrew Marc will also enable it to continue growing.
In 2014, the company’s operating profit increased from 131 to 165 million dollars, while net income increased by 43% to almost 109 million dollars. In 2015, the company overseen by Morris Goldfarb recorded a net profit of between 116 and 122 million dollars.
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