×
47
Fashion Jobs
SHISEIDO
D&G Fragrance Consultant - Boots Liffey Valley (22.5 Hours)
Permanent · Dublin
SHISEIDO
Drunk Elephant Account Manager - Arnotts Dublin (37.5 Hours)
Permanent · Dublin
RITUALS
Sales Advisor - Brown Thomas Cork (7.5 Hours)
Permanent · Cork
LEVI'S
Sales Stylist Flexible
Permanent · Kildare
CLAUDIE PIERLOT UK
Stockist - 24h - Permanent - Kildare Village m/f
Permanent · KILDARE
BA&SH
Sales Assistant - Full Time - Dundrum Dublin
Permanent · DUBLIN
TK MAXX
Permanent Associate-Dublin Ilac
Permanent · Dublin
SHISEIDO
Nars Makeup Artist - bt2 Blanchardstown (30 Hours)
Permanent · Dublin
SHISEIDO
Nars Makeup Artist - Brown Thomas Galway (3 Month Ftc, 30 Hours)
Fixed-term · Galway
RITUALS
Sales Advisor - Brown Thomas Cork (30 Hours, Fixed Term Contract)
Fixed-term · Cork
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 37,5h - Permanent - Kildare Village m/f
Permanent · KILDARE
TAPESTRY
Muse iv (Sales Associate) - ks ir Kildare (7.5-14 Hours)
Permanent · Kildare
TAPESTRY
Permanent Sales Associate 30 Hrs Per Week
Permanent · Kildare
TAPESTRY
Muse Iii (Sales Associate) - ks ir Kildare (15-22 Hours)
Permanent · Kildare
SHISEIDO
Drunk Elephant Beauty Advisor - Arnotts Dublin (7.5 Hours)
Permanent · Dublin
SHISEIDO
Drunk Elephant Beauty Advisor - Arnotts Dublin (7.5 Hours)
Permanent · Dublin
LEVI'S
Store Manager - Liffey Valley
Permanent · Dublin
RITUALS
Sales Advisor - Arnotts Dublin (37.5 Hours)
Permanent · Dublin 1
RITUALS
Assistant Counter Manager - Arnotts Dublin (37.5 Hours)
Permanent · Dublin 1
RITUALS
Sales Advisor - Arnotts Dublin (30 Hours)
Permanent · Dublin 1
RITUALS
Sales Advisor - Pavilions Swords Shopping Centre (8 Hours)
Permanent · Swords
LEVI'S
Assistant Store Manager
Permanent · Dublin
Published
Aug 30, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

G-III Apparel's 5-year plan to reach $5 billion in sales

Published
Aug 30, 2016

The contrast couldn't be more striking. Between the balance sheet for the quarter ended July 31 and the company's five-year plan, Morris Goldfarb, G-III Apparel CEO, is blowing hot and cold.

G-III Apparel plans to build out DKNY to reach 5 billion in sales in five years. - DKNY


On the last three months of activity, the executive has watched his group’s business shrink. Specialized in the production and distribution of clothing under licenses (Tommy Hilfiger, Guess, Ivanka Trump, Karl Lagerfeld and Calvin Klein) and owner of brands like Vilebrequin, G.H. Bass and Andrew Marc, the group recorded a decline in sales of 7% compared to the same period last year, down to $442 million. Its operating income came close to $21 million last year but has meanwhile collapsed in the red to a negative $5,000,000. The company's net profit reached -$1.3 million versus +$12.4 million a year earlier. Management has revised its net sales forecast downward for the 2016-2017 fiscal year, which ends in January, now estimating $2.48 billion rather than its initial $2.56 billion.

That is quite some bad news. But Morris Goldfarb has an ambitious goal for the next five years. He intends G-III Apparel to grow its business through its licenses with Tommy Hilfiger, Calvin Klein and Karl Lagerfeld, but is especially betting on the integration of Donna Karan into the group. His wants to build upon the brand's women's clothing and accessories but also for lines for men.

The group expects Donna Karan and DKNY sales to reach $750 million in late 2018-2019, compared to the 2016-2017 goal of $325 million. In terms of profitability, the group expects losses of $10 million the first year, after which it is aiming for an operating income of $105 million. In five years, the group believes DKNY’s potential alone will top one billion dollars.

Overall, the CEO intends to reach the $5 billion sales mark at the end of its 2021-2022 financial year. Business for Donna Karan International trademarks would have to bring in over a billion dollars, but Karl Lagerfeld would earn $500 million, Tommy Hilfiger business over one billion dollars, Calvin Klein licenses would be worth $1.5 billion, while Vilebrequin would account for $250 million. The other licenses would make up the rest of this $5 billion bar.

Copyright © 2022 FashionNetwork.com All rights reserved.