G-III Apparel Group (G-III), which owns DKNY, Karl Lagerfeld, Donna Karan and Vilebrequin, has reported a 4 per cent drop in revenue to US$3.1 billion for the fiscal year ended January 31, with net income reaching $176.2 million from a net loss of $133.1 million the year before. 

“We delivered strong growth with DKNY, Karl Lagerfeld and Vilebrequin, increasing penetration of our higher margin, owned brands to 47 per cent of fiscal 2024 net sales, up from 40 per cent last year,” said Morris Goldfarb, chairman and CEO of G-III. 

Net sales for the fourth quarter were down 10 per cent to $854.4 million from $764.8 million, while net income for the quarter was $28.9 million compared to a net loss of $261.1 million in the corresponding quarter. 

The group owns and licenses more than 30 brands, including Calvin Klein, Tommy Hilfiger, Nautica, Halston and National Sports leagues. 

“As we build new brands, we will invest in high-impact global marketing to support our brands and their launches, as well as in talent and technology to enhance our operational capabilities,” said Goldfarb. 

The company expects net sales for the fiscal 2025 to reach approximately $3.2 billion with net income reaching between $167 million and $172 million.

The group entered into a strategic multi-year licence arrangement with HanesBrands last year for the design, production, and distribution of outerwear for the Champion and C9 Champion brands in North America.