G III APPAREL GROUP LTD /DE/

Retail Stores

As of January 31, 2026, we operated 104 Vilebrequin retail stores, 13 DKNY stores, 34 Karl Lagerfeld Paris stores and 67 Karl Lagerfeld stores.

Most leases for retail stores in the United States require us to pay annual minimum rent plus a contingent rent dependent on the store’s annual sales in excess of a specified threshold. In addition, the leases generally require us to pay costs such as real estate taxes and common area maintenance costs. Retail store leases are typically between three and ten years in duration. Recently, store leases have been for shorter durations with an option to terminate if certain sales levels are not met.

Our leases expire at varying dates through 2037. Vilebrequin has 55 stores located in Europe, 23 stores located in the United States, 13 stores located in Asia, 9 stores located in Mexico and 4 stores in the Caribbean. DKNY has 12 stores located in the United States and 1 store located in Europe. Karl Lagerfeld Paris has 30 stores located in the United States and 4 store located in Canada. Karl Lagerfeld has 67 stores located in Europe.

The following table indicates the periods during which our retail leases expire:

Number of

Fiscal Year Ending January 31, · Stores

2027 · 51

2028 · 34

2029 · 45

2030 · 18

2031 and thereafter · 70

Total · 218

For more information on our leases, please see Note 6 – Leases in the accompanying Notes to our Consolidated Financial Statements in this Annual Report.

• G-III Leather Fashions, Inc. New York⁴
• G-III License Company, LLC Delaware⁴
• G-III UK Wholesale Limited United Kingdom⁴
• G.H. BASS IPCo LLC Delaware⁴
• Gabrielle Studio, Inc. New York⁴
• Hangzhou G-III Apparel Trading Co., Ltd China⁴
• KL North America BV Netherlands⁴
• Karl Lagerfeld Austria GmbH Austria⁴
• Karl Lagerfeld BV Netherlands⁴
• Karl Lagerfeld Europe BV Netherlands⁴
• Karl Lagerfeld France Sarl France⁴
• Karl Lagerfeld Germany GmbH Germany⁴
• Karl Lagerfeld Group BV Netherlands⁴
• Karl Lagerfeld Holding BV Netherlands⁴
• Karl Lagerfeld Hospitality BV Netherlands⁴
• Karl Lagerfeld International BV Netherlands⁴
• Karl Lagerfeld Ireland Limited Ireland⁴
• Karl Lagerfeld Italy II Srl (I) Italy⁴
• Karl Lagerfeld Poland SP Z.O.O. Poland⁴
• Karl Lagerfeld Portugal LDA Portugal⁴
• Karl Lagerfeld Retail BV Netherlands⁴
• Karl Lagerfeld SNC France⁴
• Karl Lagerfeld Spain S.L. Spain⁴
• Karl Lagerfeld Switzerland GmbH Switzerland⁴
• Karl Lagerfeld UK Limited United Kingdom⁴
• Kostroma Limited Hong Kong⁴
• La Plage Ltd. United Kingdom⁴
• Lobst SAS France⁴
• Naiman GmbH Switzerland⁴
• Riley & Cie S.C.S. Monaco⁴
• Riley SA Switzerland⁴
• Riviera Sun, Inc. Delaware⁴
• Sarl L’Ecume France⁴
• Sarl Ondine France⁴
• Sole SRL Italy⁴
• Sonia R. Properties SA Switzerland⁴
• Sonia Rykiel Creation Paris SAS France⁴
• Sonia Rykiel International B.V. Netherlands⁴
• Starlo IPCo LLC Delaware⁴
• T.R.B. Hong Kong Ltd. Hong Kong⁴
• T.R.B. International SA Switzerland⁴
• TRB (Singapore) S.E. Asia PTE Ltd. Singapore⁴
• TRB Belgique SPRL Belgium⁴
• TRB Macao Ltd. Macao⁴
• TRB Portugal, Comercio de Vestuario Unipessoal LDA Portugal⁴
• TRBH International SA Switzerland⁴
• The Donna Karan Company Store (UK) Limited United Kingdom⁴
• The Donna Karan Company Store LLC New York⁴
• Tropezina S.L. Spain⁴
• Vilebrequin Deutschland GmbH Germany⁴
• Vilebrequin France SAS France⁴
• Vilebrequin Hospitality SA Switzerland⁴
• Vilebrequin International SARL Switzerland⁴
• Vilebrequin Mexico SA de C.V. Mexico⁴
• Vilebrequin Saint Martin France⁴
• Vilebrequin Shanghai Apparel and Accessory Co., Ltd. China⁴

• We have expanded our business through acquisitions and investments that could result in diversion of resources, an inability to integrate acquired operations and extra expenses. This could disrupt our business and adversely affect our financial condition.
• We may need additional financing to continue to grow.
• Our business is highly seasonal.
• Extreme or unseasonable weather conditions could adversely affect our business.
• Our ability to deliver our products to the market could be disrupted if we encounter problems affecting our logistics and distribution systems.
• Supply chain disruptions have adversely affected, and could continue to adversely affect, our ability to import our products in a timely manner and our freight costs.
• Fluctuations in the price, availability and quality of materials used in our products could have a material adverse effect on our cost of goods sold and our ability to meet our customers’ demands.
• If we inadequately protect, maintain and enforce our trademark and other intellectual property rights, or infringe the intellectual property rights of third parties, our business could be harmed.
• We are subject to the risk that our partners may not generate expected sales or maintain the value of our brands.
• Recent and future economic conditions, including volatility in the financial and credit markets, inflation and increases in interest rates, may adversely affect our business.
• The cyclical nature of the apparel industry and uncertainty over future economic prospects and consumer spending could have a material adverse effect on our results of operations.
• The competitive nature of our industry may result in lower prices for our products and decreased gross profit margins.
• If major department, mass merchant and specialty store chains consolidate, continue to close stores or cease to do business, our business could be negatively affected.
• The effects of war, conflicts in Ukraine and the Middle East, acts of terrorism, natural disasters or public health crises could adversely affect our business and results of operations.
• Our ability to anticipate and respond to changing customer preferences and shifts in fashion and industry trends in a timely manner could have a material adverse effect on our business, financial condition and results of operations.
• Risks Related to Our International Operations
• We are dependent upon foreign manufacturers and our arrangements with them subject us to risks, including potential import restrictions, duties and tariffs.
• We have foreign currency exposures relating to buying and selling in currencies other than the U.S. dollar, our functional currency.
• We are subject to numerous risks associated with international operations.
• Risks Related to Cybersecurity, Data Privacy and Information Technology
• Laws on privacy continue to evolve, and place further limits on how we collect or use customer information could adversely affect our business.
• We are subject to rules relating to the processing of credit card payments. Failure to comply with these rules could result in an ability to process payments which would adversely affect our retail business.
• Our systems, and those of our third-party vendors, containing personal information and payment data of our customers, employees, and other third parties could be breached, which could subject us to adverse publicity, costly government enforcement actions or private litigation, and expenses.
• A data security or privacy breach could adversely affect our business.
• Artificial intelligence presents risks and challenges that can impact our business including by posing security risks to our confidential information, proprietary information, and personal data.
• Legal and Regulatory Risks
• Changes in trade policies and tariffs imposed by the United States government and the governments of other nations could have a material adverse effect on our business and results of operations.
• Changes in tax legislation or exposure to additional tax liabilities could impact our business.
• We are subject to significant corporate regulation as a public company and failure to comply with applicable regulations could subject us to liability or negatively affect the market price of our securities.
• Other Risks Relating to Ownership of Our Common Stock
• The price of our common stock has fluctuated significantly and could continue to fluctuate significantly.
• Our actual financial results might vary from our publicly disclosed financial forecasts.
• We recorded charges for the impairment of trademarks during the fourth quarter of fiscal 2024 and fiscal 2025. If our trademarks and other intangibles become impaired, we may be required to record additional charges to earnings.
• The increasing focus by regulators and stakeholders on corporate responsibility issues, including those associated with environmental, social and governance issues, as well as matters of significance related to sustainability, could result in additional costs or risks, adversely impact our reputation or expose us to additional regulatory or compliance risks.
• We cannot assure investors that we will pay dividends on our common stock.
• Risks Related to Our Indebtedness
• Our indebtedness could have a material adverse effect on our financial condition and our ability to obtain financing in the future and to react to changes in our business.
• The ABL Credit Agreement imposes significant operating and financial restrictions that may limit our current and future operating flexibility, particularly our ability to respond to changes in the economy or our industry or to take certain actions, which could harm our long term interests and may limit our ability to make payments under the ABL Credit Agreement or satisfy our other obligations.
• Our ability to continue to have the necessary liquidity to operate our business may be adversely impacted by a number of factors, including uncertain conditions in the credit and financial markets, which could limit the availability and increase the cost of financing. A deterioration of our results of operations and cash flow resulting from decreases in consumer spending, could, among other things, impact our ability to comply with financial covenants in the ABL Credit Agreement.
• We may not be able to generate sufficient cash to service any future significant indebtedness, including the ABL Credit Agreement, and may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
• Our variable rate indebtedness subjects us to interest rate risk, which could cause our indebtedness service obligations to increase significantly.
• Our ability to access well-functioning capital markets are important to our ability to secure future debt financing on acceptable terms.