The Firm represented Karl Lagerfeld Group BV, the parent company of the Karl Lagerfeld global brand, in connection with its formation of a joint venture with G-III Apparel Group Ltd. (“G-III”) for the development of the designer’s namesake brand in the North American market.
G-III, which makes licensed apparel for brands such as Calvin Klein, has bought a 49% interest in the joint venture. Financial terms were not disclosed. G-III is also the first licensee of the joint venture and has been granted a five-year license (with two renewals of five years each) for women’s apparel, women’s handbags, and men’s outerwear.
The Simpson Thacher team includes Ryerson Symons, Jihyun Chung and Jasmine Kaufman (M&A); Marcela Robledo and Linda Nyberg (Intellectual Property); Gary Mandel, Sophie Staples and George Davis (Tax); and Michael Naughton and Etienne Renaudeau (Competition).