G-III Apparel Group buys Karl Lagerfeld fashion brand for $210 million

The apparel company whose portfolio includes Calvin Klein, Tommy Hilfiger and Donna Karan is now the sole owner of fashion brand Karl Lagerfeld. G-III Apparel Group, Ltd. (Nasdaq: GIII), which already owned 19% of Karl Lagerfeld, will purchase the remaining 81% from a group of private and public investors for $210 million. Lagerfeld, who died in 2019, led Chanel beginning in 1983, designing the label’s ready-to-wear and couture lines and his own label, founded in 1984. He sold his brand to the…