The American clothing company G-III Apparel Group Ltd. announced Monday that it had purchased an 81 percent majority stake in the Karl Lagerfeld fashion brand for $210 million in cash, thereby becoming the Parisian company’s sole owner. Fashion icon Lagerfeld, who died in 2019, launched his eponymous brand in 1984 and steadily built it into a formidable presence, with around 120 stores globally. The German creative director founded Lagerfeld the year after becoming the creative director of Chanel, a post he maintained until his death. G-III said that it anticipated closing the deal in mid-2023, and that the brand should generate more than $2 billion in sales.
