G-III Apparel Group Completes Acquisition of Marc Jacobs Operating Business

G-III Apparel Group, Ltd. announced the completion of its previously announced acquisition of the Marc Jacobs operating business from LVMH Moet Hennessy Louis Vuitton Inc. and its affiliates. The company funded its approximately $500 million investment using cash on hand and borrowings under its revolving credit facility and will operate the business under a license from a newly formed joint venture, IPCo, which retained the Marc Jacobs intellectual property.