Dive Brief:
- Dana Perlman will become G-III Apparel Group’s chief growth and operations officer on Jan. 8, 2024, the company announced Tuesday.
- Perlman will step into the newly created position after more than 10 years at PVH Corp., where she was chief strategy officer until July 2022. She also worked as an executive at PVH handling treasury, communications and investor relations.
- Perlman’s appointment was announced along with G-III’s Q3 earnings, in which the company reported a 1% net sales decrease to $1.07 billion. Its quarterly net income was $127.6 million.
Dive Insight:
G-III changed its earnings guidance for its 2024 fiscal year, which ends Jan. 31, 2024. The company now says it expects to exceed net sales of $3.23 billion and net income between $175 million and $180 million, while it previously expected net sales of $3.3 billion and net income between $145 million and $150 million.
Morris Goldfarb, chairman and CEO, said in the earnings release that the company is further developing its four new growth initiatives: the expansion of the Donna Karan brand, a long-term license for Nautica in North America, a master licensing agreement for Halston, and its multi-year license for Champion.
Goldfarb said G-III’s balance sheet affords it the “financial flexibility to invest in our business and consider additional opportunities.”
In the separate news release on Perlman’s hire, Goldfarb said Perlman’s expertise in finance and business development made her well-equipped to support G-III’s plans to evolve its business.
Perlman will oversee strategy, finance, communications, information technology and other operating functions in her new role, per the release.
G-III credited Perlman with playing a critical role in transforming PVH’s business while she was chief strategy officer. PVH described her role at the time of her promotion as one of “helping to create, activate and articulate PVH’s go forward strategy and ultimately driving progress and support to achieve its targets.”
PVH and G-III had a previous business relationship, in which G-III held licensing agreements for PVH’s Calvin Klein and Tommy Hilfiger brands. In late 2022, PVH said it was bringing women’s wholesale business for the brands back under its own roof and is staggering its license expirations from 2025 to 2027. PVH has a long-term strategy for elevating the value of those brands.
“Having worked as an industry partner with G-III over the last decade, I have admired what G-III has built, from its brands and operations to its strong retail relationships,” Perlman said. “I am excited to see what we will accomplish together.”
