On this page of StockholderLetter.com we present the latest annual shareholder letter from G III APPAREL GROUP LTD /DE/ — ticker symbol GIII. Reading current and past GIII letters to shareholders can bring important insights into the investment thesis.
2023 Annual Report + Form 10-K

A global leader in fashion
   I am immensely proud of
the powerful company we
are today as we continue
to unlock the value of our
30+ globally recognized
and emerging brands.   
Morris Goldfarb
Chairman and CEO
3
2023 Annual Report + Form 10-K
Dear
Shareholders,
Morris Goldfarb, Chairman and CEO
Fiscal year 2024 was an important year
for G-III and I am proud of the results our
team delivered. We have accelerated
our long-term strategic priorities and
developed new opportunities as we
transition out of our Calvin Klein and
Tommy Hil   ger businesses. The strength,
relevance and recognition of our brands,
along with our powerful corporate
foundation enables us to develop product
that inspires and creates exciting brand
experiences for consumers. We delivered
strong growth in pro   tability for the year
while successfully navigating through a
tough and dynamic retail landscape.
4
Here are some of our key growth highlights from the year

We grew the net sales of our businesses, excluding Calvin Klein and Tommy Hil   ger,
by 7% year-over-year.

As a result, our go-forward brands represented ~60% of total company sales in    scal 2024 and we
anticipate our go-forward brands will account for ~70% in    scal 2025.
Net Sales Penetration: Go-Forward Brands vs. PVH Brands
(% of Sales)
FY2020
50%
Go-Forward
Brands

50%
PVH
Brands
FY2024
59%
Go-Forward
Brands
41%
PVH
Brands
FY2025E
30%
PVH
Brands
70%
Go-Forward
Brands
The relaunch of Donna Karan, one of the most iconic American brands, was one of the most
important initiatives we developed this year.

We introduced a fantastic lifestyle collection, supported by the largest marketing campaign
ever for G-III, and a newly redesigned website and fragrance launch, the product just hit
retail selling    oors.

The incredible response from consumers validates our belief that the brand has a signi   cant
global runway ahead.
5
 • shareholder letter icon 5/10/2024 Letter Continued (Full PDF)
 • stockholder letter icon 5/5/2023 GIII Stockholder Letter
 • stockholder letter icon More "Textiles & Apparel" Category Stockholder Letters
 • Benford's Law Stocks icon GIII Benford's Law Stock Score = 76


GIII Shareholder/Stockholder Letter Transcript:

2023 Annual Report + Form 10-K


A global leader in fashion
   I am immensely proud of
the powerful company we
are today as we continue
to unlock the value of our
30+ globally recognized
and emerging brands.   
Morris Goldfarb
Chairman and CEO
3

2023 Annual Report + Form 10-K
Dear
Shareholders,
Morris Goldfarb, Chairman and CEO
Fiscal year 2024 was an important year
for G-III and I am proud of the results our
team delivered. We have accelerated
our long-term strategic priorities and
developed new opportunities as we
transition out of our Calvin Klein and
Tommy Hil   ger businesses. The strength,
relevance and recognition of our brands,
along with our powerful corporate
foundation enables us to develop product
that inspires and creates exciting brand
experiences for consumers. We delivered
strong growth in pro   tability for the year
while successfully navigating through a
tough and dynamic retail landscape.
4

Here are some of our key growth highlights from the year

We grew the net sales of our businesses, excluding Calvin Klein and Tommy Hil   ger,
by 7% year-over-year.

As a result, our go-forward brands represented ~60% of total company sales in    scal 2024 and we
anticipate our go-forward brands will account for ~70% in    scal 2025.
Net Sales Penetration: Go-Forward Brands vs. PVH Brands
(% of Sales)
FY2020
50%
Go-Forward
Brands

50%
PVH
Brands
FY2024
59%
Go-Forward
Brands
41%
PVH
Brands
FY2025E
30%
PVH
Brands
70%
Go-Forward
Brands
The relaunch of Donna Karan, one of the most iconic American brands, was one of the most
important initiatives we developed this year.

We introduced a fantastic lifestyle collection, supported by the largest marketing campaign
ever for G-III, and a newly redesigned website and fragrance launch, the product just hit
retail selling    oors.

The incredible response from consumers validates our belief that the brand has a signi   cant
global runway ahead.
5



shareholder letter icon 5/10/2024 Letter Continued (Full PDF)
 

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