G-III Apparel Group has increased its interest in designer brand Karl Lagerfeld by taking a 19% minority stake in the parent company.

The investment, the company says, will strengthen the partnership between G-III and the Karl Lagerfeld brand and extend their business development opportunities on a global scale. 

The acquisition is in addition to G-III's ownership of a 49% interest in the North American joint venture, which holds rights to the Karl Lagerfeld trademarks for consumer products and apparel in the US, Canada and Mexico, signed last June. G-III is also the licensee of the joint venture for Karl Lagerfeld women's apparel, women's handbags and men's outerwear.

G-III Apparel signs Karl Lagerfeld JV

"We are very pleased to increase our strategic and financial commitment in Karl Lagerfeld, a true iconic fashion brand," said G-III CEO Morris Goldfarb. "We are proud to have been able to acquire these opportunities as a result of our market knowledge, category expertise and strong operational platform. Now, with our expanded partnership in Karl Lagerfeld, we look forward to helping chart its course forward and captivating a generation of new consumers around the world."