On the program ‘Fox Business Brief,’ contributor Charles Payne, who is also the host of the show ‘Making Money with Charles Payne’ discussed the outlook for G-III Apparel Group Ltd. (NASDAQ:GIII). He commented on the chances of the stock rising further, going ahead.
Payne said that based on the current valuations of the stock, he thinks that the stock will go higher.
“Now one thing I often talk about is the company’s culture when you consider investing. This is a prime example. Back in 1956, holocaust survivor, Aron Goldfarb comes to America, lands in the New York City garment industry and the rest is history. His company now is being run by his son who is sticking to that entrepreneurial spirit that’s been their guiding force.”
Payne also commented on how the company was able to acquire two of its competitors in the past in 2005. He was referring to G-III Apparel Group Ltd.’s (NASDAQ:GIII) acquisition of Winlit and Marvin Richards. The acquisitions had helped G-III Apparel Group Ltd. (NASDAQ:GIII) grow its manufacturing operations as well as its design expertise.
The acquisition of Marvin Richards enabled G-III Apparel Group Ltd.’s (NASDAQ:GIII) to get licenses for the men’s & women’s underwear segment under the brand name ‘Calvin Klein.’ Moreover, the acquisition of Winlit helped the company in getting licenses for menswear and women wear under the brand name ‘Guess?’
In addition to this, G-III Apparel Group Ltd.’s (NASDAQ:GIII) also made its latest acquisition in November, 2013. It acquired G.H.Bass, which is a heritage footwear maker and also the creator of penny loafer shoes.
Payne suggests that the company is expected to continue its growth, and he expects the stock to touch 100 soon.
G-III Apparel Group Ltd.’s (NASDAQ:GIII) which started its journey in the New York City garment district is still located in the same place but has a global presence with brands like Calvin Klein, Guess?, Ellen Tracy, Tommy Hilfiger, Jessica Simpson, Levi’s, Ivanka Trump, G.H.Bass and many more such globally recognized brands.