G-III Apparel Group has announced that it will purchase the luxury European fashion brand Sonia Rykiel. G-III intends to speed up the relaunch, primarily in Europe for fall 2022. Collections will be available across multiple categories.
In a joint press release, the companies stated that the transaction should be completed by the end October 2021.
Rykiel, a leading figure in Parisian fashion, created a brand that embodied the spirit of modern women.
Morris Goldfarb is the chairman and CEO of G-III. He said: “We are very pleased with the purchase of the Sonia Rykiel Brand, which allows us to further expand our luxury business. We see a significant opportunity for this brand to reach its full potential as we accelerate our global presence. We will leverage G-III’s expertise in supply chain management and the existing executive team and infrastructure in Europe to scale and grow Sonia Rykiel across apparel, accessories, and many other lifestyle categories.”
Eric Dayan and Michael Dayan are the current owners of Sonia Rykiel They said: “We’re proud to have played a role in this brand with a rich French heritage, and to be driving its relaunch. G-III is a global apparel and accessories powerhouse that has a portfolio of internationally recognised brands. We are delighted to have G-III as the new owners of the Sonia Rykiel Brand. G-III is a leader in lifestyle categories and has a wide range of retail partners. We see a brighter future for Sonia Rykiel. “We have peace of mind and confidence that G-III is going to elevate the iconic Sonia Rykiel Brand to its global potential.”
