New York-based company G-III Apparel, has entered the race to buy Arcadia and is among four top contenders that also include Next, Boohoo, and US-based Authentic Brands. The company owns the DKNY brand and also holds licences for big-name labels Calvin Klein, Tommy Hilfiger, Karl Lagerfeld and Levi’s.
As per Telegraph reports, G-III has around $800 million to help fund any buy. The group itself had pre-pandemic sales of $3.1 billion and a stock market value of $1.3 billion. But the company closed over 200 US stores last summer and said its wholesale business, anchored by our five global power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld, will continue to be the primary growth and profit engine.
There are justifiable fears in British retail that some of the main contenders for Arcadia have little or no interest in running physical shops. Regardless of who wins the Arcadia race, it’s expected to be finalised by the end of next month with administrator Deloitte selecting the parties to go forward to the next bidding round at some point in January.