Sonia Rykiel, the renowned Parisian luxury fashion house, is gearing up for a new phase of growth as it enters the fold of G-III Apparel Group. The acquisition of the brand, which was announced last month, is set to be finalized by the end of October. This move represents an important milestone in Sonia Rykiel’s journey to regain its prominence in the fashion industry.
The acquisition comes after Sonia Rykiel faced liquidation in July 2019. However, the brand quickly found new owners in the form of Eric and Michael Dayan, co-founders of the online sales site showroomprivé.com. Since then, the brand has been making waves with its innovative initiatives, including virtual fashion shows and the launch of an eco-friendly capsule collection. The revival of the brand’s children’s line has also garnered attention.
With the backing of G-III Apparel Group, Sonia Rykiel is poised to take its revival to new heights. The group aims to diversify the brand’s product categories and tap into its untapped potential. Morris Goldfarb, President and CEO of G-III Apparel Group, expressed confidence in the brand’s expansion, stating that there is a significant opportunity to grow its international presence.
While G-III Apparel Group plans to leverage Sonia Rykiel’s existing management team and infrastructure, it will also focus on strengthening the brand’s supply chain to fuel its growth. Headquartered in New York, G-III Apparel Group boasts an impressive portfolio of brands, including DKNY and Donna Karan, along with a range of licenses such as Calvin Klein, Tommy Hilfiger, and Karl Lagerfeld Paris.
As the acquisition nears completion, fashion enthusiasts eagerly await the next chapter of Sonia Rykiel’s renaissance, with G-III Apparel Group leading the way towards a bright future.
Useful links:
1. G-III Apparel Group Website
2. Sonia Rykiel Official Website
