10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

  (Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 31, 2013

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from         to        

Commission File Number 0-18183

G-III APPAREL GROUP, LTD.

(Exact name of registrant as specified in its charter)

Delaware	41-1590959
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
512 Seventh Avenue, New York, New York	10018
(Address of Principal Executive Offices)	(Zip Code)

(212) 403-0500

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   ☒     No   ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files.)    Yes   ☒     No   ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes  ☐   No  ☒

As of September 1, 2013, there were 20,397,097 shares of issuer’s common stock, par value $0.01 per share, outstanding.

TABLE OF CONTENTS

		Page No.
Part I	FINANCIAL INFORMATION
Item 1.	Financial Statements
	Condensed Consolidated Balance Sheets - July 31, 2013, July 31, 2012 and January 31, 2013		3
	Condensed Consolidated Statements of Operations and Comprehensive Income - For the Three Months Ended July 31, 2013 and 2012		4
	Condensed Consolidated Statements of Operations and Comprehensive Income - For the Six Months Ended July 31, 2013 and 2012		5
	Condensed Consolidated Statements of Cash Flows - For the Six Months Ended July 31, 2013 and 2012		6
	Notes to Condensed Consolidated Financial Statements		7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		20
Item 4.	Controls and Procedures		20
Part II	OTHER INFORMATION
Item 1A.	Risk Factors		21
Item 6.	Exhibits		21

2

PART I – FINANCIAL INFORMATION

 Item 1. Financial Statements.

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

	July 31, 2013			July 31, 2012			January 31, 2013
	(Unaudited)			(Unaudited)
	(In thousands, except share and per share amounts)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	16,454		$	22,653		$	27,360
Accounts receivable, net of allowance for doubtful accounts and sales discounts of $38,285, $28,747 and $45,947, respectively		162,563			184,816			178,216
Inventories		406,246			336,389			280,929
Prepaid income taxes		4,586			468			—
Deferred income taxes, net		10,318			9,559			10,285
Prepaid expenses and other current assets		36,011			27,075			19,795
Total current assets		636,178			580,960			516,585
INVESTMENT IN JOINT VENTURE		—			2,236			—
PROPERTY AND EQUIPMENT, NET		46,016			34,110			40,816
OTHER ASSETS		31,858			1,706			10,053
OTHER INTANGIBLES, NET		14,018			3,311			13,860
TRADEMARKS, NET		75,137			13,920			76,062
GOODWILL		54,153			26,100			60,396
	$	857,360		$	662,343		$	717,772
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Notes payable	$	122,092		$	87,007		$	65,000
Income taxes payable		—			—			12,181
Accounts payable		195,549			171,374			104,037
Accrued expenses		37,851			25,435			51,998
Total current liabilities		355,492			283,816			233,216
NOTES PAYABLE		19,518			—			19,778
DEFERRED INCOME TAXES, NET		19,235			1,289			14,442
DUE TO NONCONTROLLING SHAREHOLDER		3,203			1,568			2,275
CONTINGENT PURCHASE PRICE PAYABLE		5,711			—			5,787
OTHER NON-CURRENT LIABILITIES		14,257			11,498			13,034
TOTAL LIABILITIES		417,416			298,171			288,532
STOCKHOLDERS’ EQUITY
Preferred stock; 1,000,000 shares authorized; No shares issued and outstanding
Common stock - $.01 par value; 80,000,000 shares authorized; 20,889,322, 20,524,429 and 20,616,957 shares issued		210			205			206
Additional paid-in capital		179,834			165,749			171,132
Accumulated other comprehensive (loss) income		1,008			(51	)		3,523
Retained earnings		263,289			202,076			258,437
Common stock held in treasury, at cost – 492,225 shares		(3,899	)		(3,899	)		(3,899	)
Total G-III stockholders’ equity		440,442			364,080			429,399
Noncontrolling interest		(498	)		92			(159	)
Total stockholders’ equity		439,944			364,172			429,240
	$	857,360		$	662,343		$	717,772

The accompanying notes are an integral part of these statements.

3

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

	Three Months Ended July 31,
	2013			2012
	(Unaudited)
	(In thousands, except per share amounts)
Net sales	$	304,158		$	251,479
Cost of goods sold		204,739			176,636
Gross profit		99,419			74,843
Selling, general and administrative expenses		89,044			69,454
Depreciation and amortization		3,242			2,100
Operating profit		7,133			3,289
Equity loss in joint venture		—			146
Interest and financing charges, net		1,750			1,034
Income before income taxes		5,383			2,109
Income tax expense		2,045			802
Net income		3,338			1,307
Add: Loss attributable to noncontrolling interest		254			55
Income attributable to G-III	$	3,592		$	1,362
NET INCOME PER COMMON SHARE
Basic:
Net income per common share	$	0.18		$	0.07
Weighted average number of shares outstanding		20,305			19,995
Diluted:
Net income per common share	$	0.17		$	0.07
Weighted average number of shares outstanding		20,753			20,331
Net income attributable to G-III	$	3,592		$	1,362
Other comprehensive income (loss):
Foreign currency translation adjustments		(136	)		(57	)
Other comprehensive income (loss)		(136	)		(57	)
Comprehensive income	$	3,456		$	1,305

The accompanying notes are an integral part of these statements.

4

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

	Six Months Ended July 31,
	2013			2012
	(Unaudited)
	(In thousands, except per share amounts)
Net sales	$	576,773		$	480,928
Cost of goods sold		384,961			337,395
Gross profit		191,812			143,533
Selling, general and administrative expenses		174,872			136,068
Depreciation and amortization		6,363			4,153
Operating profit		10,577			3,312
Equity loss in joint venture		—			433
Interest and financing charges, net		3,528			2,138
Income before income taxes		7,049			741
Income tax expense		2,678			282
Net income		4,371			459
Add: Loss attributable to noncontrolling interest		339			55
Income attributable to G-III	$	4,710		$	514
NET INCOME PER COMMON SHARE
Basic:
Net income per common share	$	0.23		$	0.03
Weighted average number of shares outstanding		20,234			19,928
Diluted:
Net income per common share	$	0.23		$	0.03
Weighted average number of shares outstanding		20,686			20,334
Net income attributable to G-III	$	4,710		$	514
Other comprehensive loss:
Foreign currency translation adjustments		(2,515	)		(55	)
Other comprehensive loss		(2,515	)		(55	)
Comprehensive income	$	2,195		$	459

The accompanying notes are an integral part of these statements.

5

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended July 31,
	2013			2012
	(Unaudited)
	(In thousands)
Cash flows from operating activities
Net income	$	4,371		$	459
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization		6,363			4,153
Equity based compensation		4,107			2,964
Tax benefit from exercise/vesting of equity awards		4,550			1,054
Deferred financing charges		335			119
Equity loss in joint venture		—			433
Changes in operating assets and liabilities:
Accounts receivable, net		15,569			(22,306	)
Inventories		(125,439	)		(82,868	)
Income taxes, net		(16,767	)		(6,680	)
Prepaid expenses and other current assets		(16,225	)		(12,547	)
Other assets, net		(12,554	)		(245	)
Accounts payable, accrued expenses and other liabilities		76,743			57,727
Net cash used in operating activities		(58,947	)		(57,737	)
Cash flows from investing activities
Capital expenditures		(10,680	)		(4,518	)
Net cash used in investing activities		(10,680	)		(4,518	)
Cash flows from financing activities
Proceeds from notes payable, net		57,092			56,957
Proceeds from exercise of equity awards		760			269
Excess tax benefit from exercise/vesting of equity awards		2,957			1,362
Loss attributable to noncontrolling interest		339			1,715
Taxes paid for net share settlement		(946	)		—
Net cash provided by financing activities		60,202			60,303
Effect of exchange rate changes		(1,481	)		(55	)
Net decrease in cash and cash equivalents		(10,906	)		(2,007	)
Cash and cash equivalents at beginning of period		27,360			24,660
Cash and cash equivalents at end of period	$	16,454		$	22,653
Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest	$	3,411		$	1,902
Income taxes		14,874			4,438

The accompanying notes are an integral part of these statements.

6

G-III APPAREL GROUP, LTD. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1 – Basis of Presentation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories. The Company also operates retail stores.

The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated. Vilebrequin, which was acquired in August 2012, reports results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. Accordingly, the results of Vilebrequin are and will be included in the financial statements for the quarter ended or ending closest to the Company’s fiscal quarter. For example, in this Form 10-Q for the quarter ended July 31, 2013 Vilebrequin’s results are included for the three month period ended June 30, 2013.

The results for the three month and six month periods ended July 31, 2013 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. In the opinion of management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented have been reflected.

Investments in entities that the Company does not control but has the ability to exercise significant influence are accounted for using the equity method of accounting. Equity method investments are recorded initially at cost in the Consolidated Balance Sheets. Those amounts are adjusted to recognize the Company’s proportional share of the investee’s net income or loss after the date of the investment. In October 2012, the Company sold its interest in the joint venture that operated outlet stores under the Vince Camuto name, which had been accounted for by the equity method. During the first quarter of fiscal 2013, the Company entered into a joint venture, of which the Company owns 51%, to operate Calvin Klein Performance retail stores in mainland China and Hong Kong, and the Company consolidates the accounts of this joint venture. The Company’s 2013 share of net income or loss of this investment is included in the Consolidated Statements of Operations.

The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2013 filed with the Securities and Exchange Commission.

Note 2 – Acquisition of Vilebrequin

In August 2012, the Company acquired all of the outstanding shares of Vilebrequin International SA, a Swiss corporation (“Vilebrequin”) for aggregate consideration consisting of (i) €70.5 million (approximately $87.6 million) in cash and (ii) €15.0 million (approximately $18.6 million) of unsecured promissory notes due December 31, 2017, with interest payable at the rate of 5% per year. In addition to the aggregate consideration paid at closing, the purchase agreement provides for contingent consideration of up to €22.5 million (approximately $27.9 million) based upon achieving certain performance objectives related to the growth of the Vilebrequin business over the three years ending December 31, 2015. At July 31, 2013, the estimated contingent consideration payable was $5.7 million. The dollar equivalents to the amounts in Euro set forth in the notes to these Condensed Consolidated Financial Statements are based on the exchange rate on the date of acquisition (€1.000 equal to USD $1.242).

Vilebrequin is a premier provider of status swimwear, resort wear and related accessories. Vilebrequin sells its products in over 50 countries around the world through a network of company owned and franchised specialty retail stores and shops, as well as through select wholesale distribution.

The total consideration paid for Vilebrequin was approximately $111.7 million, including the estimated fair value of the contingent consideration at the time of acquisition. The purchase price has been allocated to the tangible assets, liabilities and identifiable intangible assets acquired based on their estimated fair values. The fair value of the contingent consideration is estimated as of the acquisition date based on the present value of the expected contingent payments, which are determined using weighted probabilities of possible payments. The allocation resulted in goodwill and intangible assets in the aggregate amount of $95.6 million related to the acquisition of Vilebrequin.

7

The following table (in thousands) summarizes the components of the purchase price allocation for the acquisition of Vilebrequin:

Purchase price:
Cash paid	$	87,573
Notes issued		18,633
Fair value of contingent consideration		5,452
	$	111,658
Allocation:
Current assets	$	25,793
Property, plant and equipment		5,724
Identifiable intangible assets		68,847
Other non-current assets, net		15,274
Assumed liabilities		(12,938	)
Deferred income taxes		(17,820	)
Goodwill		26,778
	$	111,658

The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management using unobservable inputs reflecting the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. The fair values of these identifiable intangible assets were determined using the discounted cash flow method, and the Company classifies these intangibles as Level 3 fair value measurements. Identifiable intangible assets acquired include trademarks valued at $58.7 million with an indefinite life, franchise agreements valued at $7.5 million with an estimated useful life of 14 years and customer relationships valued at $2.6 million with an estimated useful life of 8 years. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of our existing infrastructure to expand sales of Vilebrequin products.

Note 3 – Inventories

Wholesale inventories are stated at the lower of cost (determined by the first-in, first out method) or market which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or market. Inventories consist of:

	July 31, 2013		July 31, 2012		January 31, 2013
	(In thousands)
Finished goods	$	395,600	$	326,420	$	271,155
Raw materials and work-in-process		10,646		9,969		9,774
	$	406,246	$	336,389	$	280,929

Note 4 – Net Income per Common Share

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options, during the period. All share based payments outstanding that vest based on the achievement of performance or market conditions, and for which the respective performance or market conditions have not been achieved, have been excluded from the diluted per share calculation as their inclusion would be anti-dilutive. For the six months ended July 31, 2013 and 2012, 272,365 and 245,297 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards.

8

A reconciliation between basic and diluted net income per share is as follows:

	Three Months Ended July 31,				Six Months Ended July 31,
	2013		2012		2013		2012
	(In thousands, except per share amounts)
Net income	$	3,592	$	1,362	$	4,710	$	514
Basic net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Basic net income per share	$	0.18	$	0.07	$	0.23	$	0.03
Diluted net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Restricted stock awards and stock options		448		336		452		406
Diluted common shares		20,753		20,331		20,686		20,334
Diluted net income per share	$	0.17	$	0.07	$	0.23	$	0.03

Note 5 – Notes Payable

In August 2012, the Company entered into a new credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent for a group of lenders. The credit agreement is a five year senior secured credit facility providing for borrowings in the aggregate principal amount of up to $450 million. Amounts available under the credit agreement are subject to borrowing base formulas and over advances as specified in the credit agreement. As of July 31, 2013, there was $135.3 million available under the credit agreement.

Borrowings bear interest, at the Company’s option, at LIBOR plus a margin of 1.5% to 2.0% or prime plus a margin of 0.5% to 1.0%, with the applicable margin determined based on availability under the credit agreement. The credit agreement requires the Company to maintain a minimum fixed charge coverage ratio, as defined, under certain circumstances and prohibits payments for cash dividends, stock redemptions and share repurchases until February 2014, after which such payments may be made subject to compliance with certain covenants. As of July 31, 2013, the Company was in compliance with these covenants.

The credit agreement is secured by all of the assets of G-III Apparel Group, Ltd. and its subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, Andrew & Suzanne Company Inc., AM Retail Group, Inc., G-III Apparel Canada ULC, G-III License Company, LLC and AM Apparel Holdings, Inc.

Amounts outstanding under the Company’s new credit agreement were $122.1 million at July 31, 2013 compared to $87.0 million outstanding at July 31, 2012 under the Company’s prior financing agreement.

In August 2012, as part of the purchase price in connection with the Vilebrequin acquisition, the Company issued to the seller €15.0 million (approximately $18.6 million using the exchange rate on the date of acquisition) principal amount of unsecured promissory notes due December 31, 2017, with interest payable at the rate of 5% per year. The promissory notes were recorded at stated value, which approximated fair value, on the date of issuance. The fair value of these promissory notes approximated their carrying value at July 31, 2013.

9

Note 6 – Segments

The Company’s reportable segments are business units that offer products through different channels of distribution and are managed separately. The Company aggregates its operating divisions into three reportable segments; licensed products, non-licensed products and retail operations. The Vilebrequin business acquired in August 2012, including the retail operations conducted by Vilebrequin, is part of the non-licensed product segment. There is substantial intersegment cooperation, cost allocations and sharing of assets between the licensed and non-licensed products segments. As a result, the Company does not represent that these segments, if operated independently, would report the operating results set forth in the table below. The following information, in thousands, is presented for the three month and six month periods indicated below:

	Three Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	202,454	$	70,400	$	41,097		$	(9,793	)	$	304,158
Cost of goods sold		147,689		45,887		20,950			(9,787	)		204,739
Gross profit		54,765		24,513		20,147			(6	)		99,419
Selling, general and administrative		48,495		19,964		20,621			(36	)		89,044
Depreciation and amortization		575		1,875		792			—			3,242
Operating profit (loss)	$	5,695	$	2,674	$	(1,266	)	$	30		$	7,133

	Three Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	178,419	$	48,265	$	32,914		$	(8,119	)	$	251,479
Cost of goods sold		131,712		35,918		17,125			(8,119	)		176,636
Gross profit		46,707		12,347		15,789			—			74,843
Selling, general and administrative		42,405		9,579		17,470			—			69,454
Depreciation and amortization		502		994		604			—			2,100
Operating profit (loss)	$	3,800	$	1,774	$	(2,285	)	$	—		$	3,289

	Six Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	382,961	$	131,089	$	86,347	$	(23,624	)	$	576,773
Cost of goods sold		277,991		87,382		43,160		(23,572	)		384,961
Gross profit		104,970		43,707		43,187		(52	)		191,812
Selling, general and administrative		94,752		39,262		40,956		(98	)		174,872
Depreciation and amortization		1,060		3,814		1,489		—			6,363
Operating profit	$	9,158	$	631	$	742	$	46		$	10,577

	Six Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	335,373	$	95,602	$	69,050		$	(19,097	)	$	480,928
Cost of goods sold		248,375		71,601		36,516			(19,097	)		337,395
Gross profit		86,998		24,001		32,534			—			143,533
Selling, general and administrative		81,918		19,676		34,474			—			136,068
Depreciation and amortization		1,003		1,977		1,173			—			4,153
Operating profit (loss)	$	4,077	$	2,348	$	(3,113	)	$	—		$	3,312

(1) Represents intersegment sales to the Company’s retail operations.

10

Included in finished goods inventory at July 31, 2013 are approximately $272.0 million, $66.9 million and $56.7 million of inventories for licensed products, non-licensed products and retail operations, respectively. Included in finished goods inventory at July 31, 2012 are approximately $227.5 million, $57.9 million and $41.0 million of inventories for licensed products, non-licensed products and retail operations, respectively. Substantially all other assets are commingled.

Note 7 – Investment in Joint Venture

During the first quarter of fiscal 2013, the Company entered into a joint venture, of which it owns 51%, to operate Calvin Klein Performance retail stores in mainland China and Hong Kong. The joint venture began operating retail locations in major Chinese markets beginning in the third quarter of fiscal 2013. As the majority owner, the Company consolidates the accounts of this joint venture in its financial statements and the results of operations are included in the retail segment.

In October 2012, the Company sold back to the Camuto Group the Company’s 50% interest in the joint venture that operated 11 outlet stores under the Vince Camuto name for an amount approximating its carrying cost. The Company’s interest in this joint venture was accounted for by the equity method.

Note 8 – Recent Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-02 (ASU 2013-02), “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required to be reclassified in its entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on the Company’s results of operations or financial position.

In March 2013, the FASB issued ASU 2013-04, which updated the guidance in ASC Topic 405, Liabilities. The amendments in ASU 2013-04 generally provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this Update is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in ASU 2013-04 also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This guidance will become effective as of the beginning of the Company’s 2015 fiscal year. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not anticipate that these changes will have a material impact on its consolidated financial statements or disclosures.

In July 2013, the FASB issued ASU 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). The amendments in ASU 2013-11 require companies to present an unrecognized tax benefit, or a portion thereof, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, unless the uncertain tax position is not available to reduce, or would not be used to reduce, the net operating loss or tax credit carryforward under the tax law in the same jurisdiction; otherwise, the unrecognized tax benefit should be presented as a gross liability and should not be combined with a deferred tax asset. ASU 2013-11 is effective for annual periods beginning after December 15, 2013 and should be applied to all unrecognized tax benefits that exist as of the effective date. Companies may choose to apply this guidance retrospectively to each prior reporting period presented. The Company is currently evaluating the potential impact of this update.

 Note 9 – Subsequent Events

The Company has considered subsequent events up to the filing date and does not believe there are any occurrences that would have a material impact on the Company’s results of operations.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Unless the context otherwise requires, “G-III”, “us”, “we” and “our” refer to G-III Apparel Group, Ltd. and its subsidiaries. References to fiscal years refer to the year ended or ending on January 31 of that year. For example, our fiscal year ending January 31, 2014 is referred to as “fiscal 2014”. Vilebrequin reports results on a calendar year basis rather than on the January 31 fiscal year basis used by G-III. Accordingly, the results of Vilebrequin are and will be included in our financial statements for the quarter ended or ending closest to G-III’s fiscal quarter. For example, in this Form 10-Q for the quarter ended July 31, 2013, Vilebrequin’s results are included from April 1, 2013 through June 30, 2013.

Various statements contained in this Form 10-Q, in future filings by us with the Securities and Exchange Commission (the “SEC”), in our press releases and in oral statements made from time to time by us or on our behalf constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and are indicated by words or phrases such as “anticipate,” “estimate,” “expect,” “will,” “project,” “we believe,” “is or remains optimistic,” “currently envisions,” “forecasts,” “goal” and similar words or phrases and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements also include representations of our expectations or beliefs concerning future events that involve risks and uncertainties, including, but not limited to:

• our dependence on licensed product;

• our dependence on the strategies and reputation of our licensors;

• costs and uncertainties with respect to expansion of our product offerings;

• the performance of our products at retail and customer acceptance of new products;

• customer concentration;

• risks of doing business abroad;

• price, availability and quality of materials used in our products;

• the need to protect our trademarks and other intellectual property;

• risks relating to our retail business;

• risks relating to our acquisition of Vilebrequin;

• dependence on existing management;

• our ability to make strategic acquisitions and possible disruptions from acquisitions;

• need for additional financing;

• seasonal nature of our business;

• our reliance on foreign manufacturers;

• the need to successfully upgrade, maintain and secure our information systems;

• the impact of the current economic and credit environment on us, our customers, suppliers and vendors;

• the effects of competition in the markets in which we operate;

• consolidation of our retail customers;

• additional legislation and/or regulation in the U.S. or around the world;

• our ability to import products in a timely and cost effective manner;

• our ability to continue to maintain our reputation;

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• fluctuations in the price of our common stock;

• potential effect on the price of our common stock if actual results are worse than financial forecasts; and

• the effect of regulations applicable to us as a U.S. public company.

These forward-looking statements are based largely on our expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control. A detailed discussion of significant risk factors that have the potential to cause our actual results to differ materially from our expectations is described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended January 31, 2013. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Overview

G-III designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories. We sell our products under our own proprietary brands, which include Vilebrequin, Andrew Marc and Marc New York, licensed brands and private retail labels. G-III also operates retail stores under the Wilsons Leather, Vilebrequin, Calvin Klein Performance and Andrew Marc names.

Our business is dependent on, among other things, retailer and consumer demand for our products. We believe that economic uncertainty and a slowdown in the global macroeconomic environment continue to negatively impact the level of consumer spending for discretionary items. The current uncertain economic environment has been characterized by a decline in consumer discretionary spending that may affect retailers and sellers of consumer goods, particularly those whose goods are viewed as discretionary purchases, such as fashion apparel and related products, such as ours. We cannot predict the direction in which the current economic environment will move. Continued uncertain macroeconomic conditions may have a negative impact on our results for fiscal 2014.

We operate in fashion markets that are intensely competitive. Our ability to continuously evaluate and respond to changing consumer demands and tastes, across multiple market segments, distribution channels and geographies is critical to our success. Although our portfolio of brands is aimed at diversifying our risks in this regard, misjudging shifts in consumer preferences could have a negative effect on our business. Our success in the future will depend on our ability to design products that are accepted in the marketplace, source the manufacture of our products on a competitive basis, and continue to diversify our product portfolio and the markets we serve.

We aggregate our operating divisions into three reportable segments, licensed products, non-licensed products and retail operations. The licensed products segment includes sales of products under brands licensed by us from third parties. The non-licensed products segment includes sales of products under our own brands and private label brands, as well as of the Vilebrequin business that we acquired in August 2012, including the retail operations conducted by Vilebrequin. The retail operations segment consists almost entirely of our Wilsons retail stores, as well as a limited number of Andrew Marc retail stores and Calvin Klein Performance stores.

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We have expanded our portfolio of proprietary and licensed brands through acquisitions and by entering into license agreements for new brands or for additional products under previously licensed brands. Our acquisitions have helped to broaden our product offerings, expand our ability to serve different tiers of distribution and add a retail component to our business.

Our acquisitions are part of our strategy to expand our product offerings and increase the portfolio of proprietary and licensed brands that we offer through different tiers of retail distribution and at a variety of price points.

The Vilebrequin business acquired last year provides us with a premier brand selling status products worldwide. Vilebrequin is a well-known brand and we expect to add more company owned and franchised retail locations and increase our wholesale distribution throughout the world, as well as develop the business beyond its heritage in men’s swimwear, resort wear and related accessories. We recently launched sun tan lotion products and a capsule collection of women swimwear and resort wear under the Vilebrequin brand.

The sale of licensed products is a key element of our strategy and we have continually expanded our offerings of licensed products for the past 20 years. Most recently, in December 2012, we entered into a license agreement covering a broad range of women’s apparel under the Ivanka Trump brand and, in April 2013, we entered into a license agreement for Calvin Klein men’s and women’s swimwear that will become effective on December 1, 2013. We expect to launch Ivanka Trump product in the fourth quarter of fiscal 2014 and begin shipping Calvin Klein swimwear for the Spring 2014 season.

We believe that consumers prefer to buy brands they know, and we have continually sought licenses that would increase the portfolio of name brands we can offer through different tiers of retail distribution, for a wide array of products at a variety of price points. We believe that brand owners will look to consolidate the number of licensees they engage to develop product and they will seek licensees with a successful track record of expanding brands into new categories. It is our objective to continue to expand our product offerings and we are continually discussing new licensing opportunities with brand owners.

Our retail operations segment consists almost entirely of our Wilsons retail store business. Substantially all of our Wilsons stores are operated as outlet stores. We believe that operation of the Wilsons stores is part of our core competency, as outerwear comprised approximately one-half of our net sales at Wilsons in fiscal 2013. As of July 31, 2013, we operated 146 Wilsons stores and 5 Andrew Marc stores.

In November 2011, we entered into a license agreement granting us the retail rights to distribute and market Calvin Klein women’s performance apparel in the United States and China. We currently operate Calvin Klein Performance stores in Scottsdale, Arizona and in San Francisco, California, and expect to open a third store in Las Vegas, Nevada in September 2013. In March 2012, we entered into a joint venture agreement, with Finity Apparel Retail Limited to open and operate Calvin Klein Performance retail stores in mainland China and Hong Kong. We currently operate seven stores pursuant to this joint venture and plan to open approximately ten additional stores by the end of our current fiscal year. We consolidate the results of operations of this joint venture, of which we own 51%, in our financial statements.

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Trends

Significant trends that affect the apparel industry include increases in raw material, manufacturing and transportation costs, the continued consolidation of retail chains and the desire on the part of retailers to consolidate vendors supplying them.

Retailers are seeking to expand the differentiation of their offerings by devoting more resources to the development of exclusive products, whether by focusing on their own private label products or on products produced exclusively for a retailer by a national brand manufacturer. Retailers are placing more emphasis on building strong images for their private label and exclusive merchandise. Exclusive brands are only made available to a specific retailer, and thus customers loyal to their brands can only find them in the stores of that retailer.

A number of retailers are experiencing financial difficulties, which in some cases has resulted in bankruptcies, liquidations and/or store closings. The financial difficulties of a retail customer of ours could result in reduced business with that customer. We may also assume higher credit risk relating to receivables of a retail customer experiencing financial difficulty that could result in higher reserves for doubtful accounts or increased write-offs of accounts receivable. We attempt to lower credit risk from our customers by closely monitoring accounts receivable balances and shipping levels, as well as the ongoing financial performance and credit standing of our customers.

We have attempted to respond to these trends by continuing to focus on selling products with recognized brand equity, by attention to design, quality and value and by improving our sourcing capabilities. We have also responded by making strategic acquisitions and entering into new license agreements that have added additional licensed and proprietary brands and helped diversify our business by adding new product lines, additional distribution channels and a retail component to our business. We believe that our broad distribution capabilities help us to respond to the various shifts by consumers between distribution channels and that our operational capabilities will enable us to continue to be a vendor of choice for our retail partners.

Results of Operations

Three months ended July 31, 2013 compared to three months ended July 31, 2012

Net sales for the three months ended July 31, 2013 increased to $304.2 million from $251.5 million in the same period last year. Net sales of licensed products increased to $202.5 million from $178.4 million, primarily as a result of an increase of $27.1 million in net sales of our licensed Calvin Klein products with the largest increases occurring in the women’s suits and women’s sportswear categories. Net sales of non-licensed products in the three months ended July 31, 2013 were $70.4 million compared to $48.3 million in the same period last year. The increase in net sales of non-licensed products is primarily the result of net sales of $18.0 million by Vilebrequin, which was acquired in August 2012. Net sales of our retail operations increased to $41.1 million for the three months ended July 31, 2013 from $32.9 million in the same period last year as a result of a comparative store sales increase of 13.7%, as well as an increase in the number of stores.

Gross profit increased to $99.4 million, or 32.7% of net sales, for the three months ended July 31, 2013, from $74.8 million, or 29.8% of net sales, in the same period last year. The gross profit percentage in our licensed products segment was 27.1% in the three months ended July 31, 2013 compared to 26.2% in the same period last year. The gross profit percentage in our licensed products segment improved primarily due to a continued increase in penetration of our Calvin Klein sportswear and women’s suits in higher margin department stores. The gross profit percentage in our non-licensed products segment was 34.8% in the three month period ended July 31, 2013 compared to 25.6% in the same period last year. This increase in gross profit percentage is primarily attributable to our Vilebrequin business which operates with a higher gross margin than our other non-licensed businesses. The gross profit percentage for our retail operations segment was 49.0% for the three months ended July 31, 2013 compared to 48.0% for the comparable period last year. Gross profit percentage for the retail operations segment was positively impacted by a higher margin product mix and less promotional activity.

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Selling, general and administrative expenses increased to $89.0 million in the three months ended July 31, 2013 from $69.5 million in the same period last year. This increase is primarily a result of increases in personnel costs ($11.3 million), facility costs ($4.2 million) and third party warehousing ($1.3 million). Personnel costs increased primarily as a result of the acquisition of Vilebrequin, as well as the expansion of our Calvin Klein product lines and an increase in personnel to staff additional outlet stores in our retail division. Facility costs increased primarily as a result of costs associated with our new Vilebrequin business and additional retail store leases. Third party warehousing costs increased as a result of our increased shipping volume, as well as storage costs resulting from our higher inventory levels compared to the same period last year.

Depreciation and amortization increased to $3.2 million in the three months ended July 31, 2013 from $2.1 million in the same period last year primarily as a result of depreciation and amortization related to the acquisition of Vilebrequin.

Equity loss in joint venture in the three months ended July 31, 2012 was $146,000. There was no comparable amount for the three months ended July 31, 2013 due to the sale of the Company’s interest in the joint venture that operated outlet stores under the Vince Camuto name to the Camuto Group in October 2012. The Company’s interest in this joint venture was accounted for by the equity method.

Interest and financing charges, net for the three months ended July 31, 2013, were $1.8 million compared to $1.0 million for the same period last year. Our interest charges were higher because of higher average borrowings under our credit facility during the quarter primarily due to funding higher inventory levels and additional borrowings to fund our acquisition of Vilebrequin and interest related to the notes issued in connection with that acquisition.

Income tax expense for the three months ended July 31, 2013 was $2.0 million compared to $802,000 for the same period last year. The effective tax rate was 38.0% for the three months ended July 31, 2013 and 2012.

Six months ended July 31, 2013 compared to six months ended July 31, 2012

Net sales for the six months ended July 31, 2013 increased to $576.8 million from $480.9 million in the same period last year. Net sales of licensed products increased to $383.0 million from $335.4 million as a result of an increase of $45.7 million in net sales of Calvin Klein licensed products primarily due to increases in net sales of women suits, sportswear and handbags. Net sales of non-licensed products in the six months ended July 31, 2013 were $131.1 million compared to $95.6 million in the same period last year. The increase in net sales of non-licensed products is primarily the result of net sales of $30.6 million by Vilebrequin. Net sales of our retail operations increased to $86.3 million for the six months ended July 31, 2013 from $69.1 million in the same period last year as a result of a comparative store sales increase of 13.1%, as well as an increase in the number of stores.

Gross profit increased to $191.8 million, or 33.3% of net sales, for the six months ended July 31, 2013, from $143.5 million, or 29.8% of net sales, in the same period last year. The gross profit percentage in our licensed products segment was 27.4% in the six months ended July 31, 2013 compared to 25.9% in the same period last year. This increase is the result of improved margins with respect to sales of Calvin Klein women’s suits and women’s sportswear. The gross profit percentage in our non-licensed products segment was 33.3% in the six month period ended July 31, 2013 compared to 25.1% in the same period last year. This increase in gross profit percentage is primarily attributable to our Vilebrequin business which operates with a higher gross margin than our other non-licensed businesses. The gross profit percentage for our retail operations segment was 50.0% for the six months ended July 31, 2013 compared to 47.1% for the comparable period last year. Gross profit percentage for the retail operations segment was positively impacted by a higher margin product mix.

Selling, general and administrative expenses increased to $174.9 million in the six months ended July 31, 2013 from $136.1 million in the same period last year. This increase is primarily a result of increases in personnel costs ($20.9 million), facility costs ($8.2 million), advertising expenses ($2.6 million) and third party warehousing charges ($2.5 million). Personnel costs increased primarily due to the acquisition of Vilebrequin, as well as due to increases in personnel with respect to our Calvin Klein divisions and staff needed for additional outlet stores in our retail division. Facility costs increased primarily as a result of costs associated with our acquired Vilebrequin business and additional retail store leases. Advertising costs increased because sales of licensed product increased, primarily Calvin Klein, and we typically pay an advertising fee under our license agreements based on a percentage of sales of licensed products. Third party warehousing costs increased as a result of our increased shipping volume compared to the same period last year.

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Depreciation and amortization increased to $6.4 million in the six months ended July 31, 2013 from $4.2 million in the same period last year primarily as a result of depreciation and amortization related to the acquisition of Vilebrequin, leasehold improvements and fixtures added for an additional showroom and office space we leased last year, as well as for retail locations added since last year.

Equity loss in joint venture in the six months ended July 31, 2012 was approximately $433,000. There was no comparable amount for the six months ended July 31, 2013 due to the sale of the Company’s interest in this joint venture to the Camuto Group in October 2012. The Company’s interest in this joint venture was accounted for by the equity method.

Interest and financing charges, net for the six months ended July 31, 2013, were $3.5 million compared to $2.1 million for the same period last year. Our interest charges were higher because of higher average borrowings under our credit facility during the period primarily as a result of higher inventory levels than in the prior year and additional borrowings to fund our acquisition of Vilebrequin and interest related to the notes issued in connection with that acquisition.

Income tax expense for the six months ended July 31, 2013 was $2.7 million compared to $282,000 for the same period last year. The effective tax rate was 38.0% for the six months ended July 31, 2013 and 2012.

Liquidity and Capital Resources

Our primary cash requirements are to fund our seasonal buildup in inventories, primarily during the second and third fiscal quarters each year. Due to the seasonality of our business, we generally reach our peak borrowings under our asset-based credit facility during our third fiscal quarter. The primary sources to meet our cash requirements have been borrowings under our credit facility and cash generated from operations.

At July 31, 2013, we had cash and cash equivalents of $16.5 million and outstanding borrowings of $122.1 million. At July 31, 2012, we had cash and cash equivalents of $22.7 million and outstanding borrowings of $87.0 million.

Our contingent liability under open letters of credit was approximately $22.3 million as of July 31, 2013 compared to $24.6 million as of July 31, 2012.

Credit Agreement

In August 2012, we entered into a new credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent for a group of lenders. The credit agreement is a five year senior secured credit facility providing for borrowings in the aggregate principal amount of up to $450 million. Amounts available under the credit agreement are subject to borrowing base formulas and over advances as specified in the credit agreement. Borrowings bear interest, at our option, at LIBOR plus a margin of 1.5% to 2.0% or prime plus a margin of 0.5% to 1.0%, with the applicable margin determined based on availability under the credit agreement. The credit agreement requires us to maintain a minimum fixed charge coverage ratio, as defined, under certain circumstances and prohibits payments for cash dividends and stock redemptions until February 2014, after which such payments may be made subject to compliance with certain covenants. As of July 31, 2013, we were in compliance with these covenants.

The credit agreement is secured by all of the assets of G-III Apparel Group, Ltd. and its subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, Andrew & Suzanne Company, Inc., AM Retail Group, Inc., G-III Apparel Canada ULC, G-III License Company, LLC and AM Apparel Holdings, Inc.

Amounts payable under our credit agreement were $122.1 million at July 31, 2013 compared to $87.0 million payable at July 31, 2012 under the Company’s prior financing agreement.

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Cash from Operating Activities

We used $58.9 million of cash in operating activities during the six months ended July 31, 2013, primarily as a result of an increase of $125.4 million in inventory and a decrease of $16.8 million in income tax payable, offset, by an increase of $76.7 million in accounts payable and accrued expenses.

The changes in these operating cash flow items are generally consistent with our seasonal pattern of building up inventory for the fall shipping season resulting in the increases in inventory and accounts payable. The fall shipping season begins during the latter half of our second quarter. The decrease in income taxes payable is a result of payments made for Federal, state and local income tax liabilities for our year ended January 31, 2013.

Cash from Investing Activities

We used $10.7 million of cash in investing activities in the six months ended July 31, 2013 for capital expenditures related primarily to build out costs and fixtures with respect to the addition of new outlet stores and, to a lesser extent, expansion of our distribution center in New Jersey.

Cash from Financing Activities

Cash from financing activities provided $60.2 million in the six months ended July 31, 2013, primarily as a result of $57.1 million of net borrowings under our credit agreement. We increased our borrowings primarily to pay for purchases of inventory.

Financing Needs

We believe that our cash on hand and cash generated from operations, together with funds available under our credit agreement, are sufficient to meet our expected operating and capital expenditure requirements, as well as to fund any repurchase of shares we elect to make. We may seek to acquire other businesses in order to expand our product offerings. We may need additional financing in order to complete one or more acquisitions. We cannot be certain that we will be able to obtain additional financing, if required, on acceptable terms or at all.

Critical Accounting Policies

Our discussion of results of operations and financial condition relies on our consolidated financial statements that are prepared based on certain critical accounting policies that require management to make judgments and estimates that are subject to varying degrees of uncertainty. We believe that investors need to be aware of these policies and how they impact our financial statements as a whole, as well as our related discussion and analysis presented herein. While we believe that these accounting policies are based on sound measurement criteria, actual future events can and often do result in outcomes that can be materially different from these estimates or forecasts. The accounting policies and related estimates described in our Annual Report on Form 10-K for the year ended January 31, 2013 are those that depend most heavily on these judgments and estimates. As of July 31, 2013, there have been no material changes to our critical accounting policies.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk.

There are no material changes to the disclosure made with respect to these matters in our Annual Report on Form 10-K for the year ended January 31, 2013.

Item 4. Controls and Procedures.

As of the end of the period covered by this report, our management, including our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act). Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms and (ii) accumulated and communicated to our management, including our principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure, and thus, are effective in making known to them material information relating to G-III required to be included in this report.

During our last fiscal quarter, there were no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1A. Risk Factors.

In addition to the other information set forth in this report, you should carefully consider the factors discussed in “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended January 31, 2013, which could materially affect our business, financial condition or future results. There have been no material changes to the risk factors as previously disclosed in our Annual Report on Form 10-K. The risks described in our Annual Report on Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

Item 6. Exhibits.

31.1	Certification by Morris Goldfarb, Chief Executive Officer of G-III Apparel Group, Ltd., pursuant to Rule 13a - 14(a) or Rule 15d - 14(a) of the Securities Exchange Act of 1934, as amended, in connection with G-III Apparel Group, Ltd.’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2013.
31.2	Certification by Neal S. Nackman, Chief Financial Officer of G-III Apparel Group, Ltd., pursuant to Rule 13a - 14(a) or Rule 15d - 14(a) of the Securities Exchange Act of 1934, as amended, in connection with G-III Apparel Group, Ltd.’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2013.
32.1	Certification by Morris Goldfarb, Chief Executive Officer of G-III Apparel Group, Ltd., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in connection with G-III Apparel Group, Ltd.’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2013.
32.2	Certification by Neal S. Nackman, Chief Financial Officer of G-III Apparel Group, Ltd., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in connection with G-III Apparel Group, Ltd.’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2013.
101.INS	XBRL Instance Document.
101.SCH	XBRL Schema Document.
101.CAL	XBRL Calculation Linkbase Document.
101.DEF	XBRL Extension Definition.
101.LAB	XBRL Label Linkbase Document.
101.PRE	XBRL Presentation Linkbase Document.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	G-III APPAREL GROUP, LTD.               (Registrant)
Date: September 9, 2013	By:	/s/ Morris Goldfarb
		Morris Goldfarb Chief Executive Officer
Date: September 9, 2013	By:	/s/ Neal S. Nackman
		Neal S. Nackman Chief Financial Officer

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EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

RULE 13a - 14(a) OR RULE 15d - 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

I, Morris Goldfarb, certify that:

1. I have reviewed this quarterly report on Form 10-Q of G-III Apparel Group, Ltd.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a - 15(e) and 15d - 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 9, 2013

/s/ Morris Goldfarb

Morris Goldfarb

Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO

RULE 13a - 14(a) OR RULE 15d - 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

I, Neal S. Nackman, certify that:

1. I have reviewed this quarterly report on Form 10-Q of G-III Apparel Group, Ltd.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a - 15(e) and 15d - 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a - 15(f) and 15d - 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting, and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 9, 2013

/s/ Neal S. Nackman

Neal S. Nackman

Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of G-III Apparel Group, Ltd. (the “Company”) on Form 10-Q for the quarterly period ended July 31, 2013, as filed with the Securities and Exchange Commission (the “Report”), I, Morris Goldfarb, Chief Executive Officer of the Company, hereby certify that, to my knowledge, (a) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (b) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Morris Goldfarb

Morris Goldfarb

Chief Executive Officer

Date: September 9, 2013

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of G-III Apparel Group, Ltd. (the “Company”) on Form 10-Q for the quarterly period ended July 31, 2013, as filed with the Securities and Exchange Commission (the “Report”), I, Neal S. Nackman, Chief Financial Officer of the Company, hereby certify that, to my knowledge, (a) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (b) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Neal S. Nackman

Neal S. Nackman

Chief Financial Officer

Date: September 9, 2013

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Inventories (Tables)

6 Months Ended

Jul. 31, 2013

Inventory Disclosure [Abstract]

Inventories

 Inventories consist of:

	July 31, 2013		July 31, 2012		January 31, 2013
	(In thousands)
Finished goods	$	395,600	$	326,420	$	271,155
Raw materials and work-in-process		10,646		9,969		9,774
	$	406,246	$	336,389	$	280,929

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Income Statement [Abstract]
Net sales	$ 304,158	$ 251,479	$ 576,773	$ 480,928
Cost of goods sold	204,739	176,636	384,961	337,395
Gross profit	99,419	74,843	191,812	143,533
Selling, general and administrative expenses	89,044	69,454	174,872	136,068
Depreciation and amortization	3,242	2,100	6,363	4,153
Operating profit	7,133	3,289	10,577	3,312
Equity loss in joint venture		146		433
Interest and financing charges, net	1,750	1,034	3,528	2,138
Income before income taxes	5,383	2,109	7,049	741
Income tax expense	2,045	802	2,678	282
Net income	3,338	1,307	4,371	459
Add: Loss attributable to noncontrolling interest	254	55	339	55
Income attributable to G-III	3,592	1,362	4,710	514
Basic:
Net income per common share	$ 0.18	$ 0.07	$ 0.23	$ 0.03
Weighted average number of shares outstanding	20,305	19,995	20,234	19,928
Diluted:
Net income per common share	$ 0.17	$ 0.07	$ 0.23	$ 0.03
Weighted average number of shares outstanding	20,753	20,331	20,686	20,334
Net income attributable to G-III	3,592	1,362	4,710	514
Other comprehensive income (loss):
Foreign currency translation adjustments	(136)	(57)	(2,515)	(55)
Other comprehensive income (loss)	(136)	(57)	(2,515)	(55)
Comprehensive income	$ 3,456	$ 1,305	$ 2,195	$ 459

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Notes Payable

6 Months Ended

Jul. 31, 2013

Debt Disclosure [Abstract]

Notes Payable

Note 5 – Notes Payable

In August 2012, the Company entered into a new credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent for a group of lenders. The credit agreement is a five year senior secured credit facility providing for borrowings in the aggregate principal amount of up to $450 million. Amounts available under the credit agreement are subject to borrowing base formulas and over advances as specified in the credit agreement. As of July 31, 2013, there was $135.3 million available under the credit agreement.

Borrowings bear interest, at the Company’s option, at LIBOR plus a margin of 1.5% to 2.0% or prime plus a margin of 0.5% to 1.0%, with the applicable margin determined based on availability under the credit agreement. The credit agreement requires the Company to maintain a minimum fixed charge coverage ratio, as defined, under certain circumstances and prohibits payments for cash dividends, stock redemptions and share repurchases until February 2014, after which such payments may be made subject to compliance with certain covenants. As of July 31, 2013, the Company was in compliance with these covenants.

The credit agreement is secured by all of the assets of G-III Apparel Group, Ltd. and its subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, Andrew & Suzanne Company Inc., AM Retail Group, Inc., G-III Apparel Canada ULC, G-III License Company, LLC and AM Apparel Holdings, Inc.

Amounts outstanding under the Company’s new credit agreement were $122.1 million at July 31, 2013 compared to $87.0 million outstanding at July 31, 2012 under the Company’s prior financing agreement.

In August 2012, as part of the purchase price in connection with the Vilebrequin acquisition, the Company issued to the seller €15.0 million (approximately $18.6 million using the exchange rate on the date of acquisition) principal amount of unsecured promissory notes due December 31, 2017, with interest payable at the rate of 5% per year. The promissory notes were recorded at stated value, which approximated fair value, on the date of issuance. The fair value of these promissory notes approximated their carrying value at July 31, 2013.

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Net Income per Common Share - Additional information (Detail Textuals)	6 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Earnings Per Share [Abstract]
Common stock issued in connection with exercise or vesting of equity awards	272,365	245,297

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Net Income per Common Share (Tables)

6 Months Ended

Jul. 31, 2013

Earnings Per Share [Abstract]

Reconciliation Between Basic and Diluted Net Income Per Share

A reconciliation between basic and diluted net income per share is as follows:

	Three Months Ended July 31,				Six Months Ended July 31,
	2013		2012		2013		2012
	(In thousands, except per share amounts)
Net income	$	3,592	$	1,362	$	4,710	$	514
Basic net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Basic net income per share	$	0.18	$	0.07	$	0.23	$	0.03
Diluted net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Restricted stock awards and stock options		448		336		452		406
Diluted common shares		20,753		20,331		20,686		20,334
Diluted net income per share	$	0.17	$	0.07	$	0.23	$	0.03

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Segments - (Detail Textuals) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jul. 31, 2013 Segment	Jan. 31, 2013	Jul. 31, 2012
Segment Reporting Information [Line Items]
Number of operating segments	3
Finished goods	$ 395,600	$ 271,155	$ 326,420
Licensed
Segment Reporting Information [Line Items]
Finished goods	272,000		227,500
Non-licensed
Segment Reporting Information [Line Items]
Finished goods	66,900		57,900
Retail
Segment Reporting Information [Line Items]
Finished goods	$ 56,700		$ 41,000

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Notes Payable - (Detail Textuals)					1 Months Ended			1 Months Ended
	Jul. 31, 2013 USD ($)	Jan. 31, 2013 USD ($)	Aug. 31, 2012 USD ($)	Jul. 31, 2012 USD ($)	Aug. 07, 2012 Vilebrequin USD ($)	Aug. 07, 2012 Vilebrequin EUR (€)	Aug. 07, 2012 Vilebrequin Unsecured promissory notes	Aug. 31, 2012 LIBOR plus Minimum	Aug. 31, 2012 LIBOR plus Maximum	Aug. 31, 2012 Prime plus Minimum	Aug. 31, 2012 Prime plus Maximum
Debt Instrument [Line Items]
Senior secured credit facility			$ 450,000,000
Amount available under credit agreement	135,300,000
Spread interest rate								1.50%	2.00%	0.50%	1.00%
Amounts payable under the company's financing agreement	122,100,000			87,000,000
Business acquisition, liabilities incurred	$ 19,518,000	$ 19,778,000			$ 18,600,000	€ 15,000,000
Business acquisition, note interest payable rate							5.00%
Maturity date of note					Dec. 31, 2017	Dec. 31, 2017

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Net Income per Common Share - Reconciliation between basic and diluted net income per share (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jul. 31, 2013	Jul. 31, 2012	Jul. 31, 2013	Jul. 31, 2012
Earnings Per Share [Abstract]
Net income	$ 3,592	$ 1,362	$ 4,710	$ 514
Basic net income per share:
Basic common shares	20,305	19,995	20,234	19,928
Basic net income per share	$ 0.18	$ 0.07	$ 0.23	$ 0.03
Diluted net income per share:
Basic common shares	20,305	19,995	20,234	19,928
Restricted stock awards and stock options	448	336	452	406
Diluted common shares	20,753	20,331	20,686	20,334
Diluted net income per share	$ 0.17	$ 0.07	$ 0.23	$ 0.03

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Basis of Presentation

6 Months Ended

Jul. 31, 2013

Accounting Policies [Abstract]

Basis of Presentation

Note 1 – Basis of Presentation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as luggage and women’s handbags, small leather goods and cold weather accessories. The Company also operates retail stores.

The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated. Vilebrequin, which was acquired in August 2012, reports results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. Accordingly, the results of Vilebrequin are and will be included in the financial statements for the quarter ended or ending closest to the Company’s fiscal quarter. For example, in this Form 10-Q for the quarter ended July 31, 2013 Vilebrequin’s results are included for the three month period ended June 30, 2013.

The results for the three month and six month periods ended July 31, 2013 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. In the opinion of management, all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented have been reflected.

Investments in entities that the Company does not control but has the ability to exercise significant influence are accounted for using the equity method of accounting. Equity method investments are recorded initially at cost in the Consolidated Balance Sheets. Those amounts are adjusted to recognize the Company’s proportional share of the investee’s net income or loss after the date of the investment. In October 2012, the Company sold its interest in the joint venture that operated outlet stores under the Vince Camuto name, which had been accounted for by the equity method. During the first quarter of fiscal 2013, the Company entered into a joint venture, of which the Company owns 51%, to operate Calvin Klein Performance retail stores in mainland China and Hong Kong, and the Company consolidates the accounts of this joint venture. The Company’s 2013 share of net income or loss of this investment is included in the Consolidated Statements of Operations.

The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2013 filed with the Securities and Exchange Commission.

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Inventories

6 Months Ended

Jul. 31, 2013

Inventory Disclosure [Abstract]

Inventories

Note 3 – Inventories

Wholesale inventories are stated at the lower of cost (determined by the first-in, first out method) or market which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or market. Inventories consist of:

	July 31, 2013		July 31, 2012		January 31, 2013
	(In thousands)
Finished goods	$	395,600	$	326,420	$	271,155
Raw materials and work-in-process		10,646		9,969		9,774
	$	406,246	$	336,389	$	280,929

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Segments

6 Months Ended

Jul. 31, 2013

Segment Reporting [Abstract]

Segments

Note 6 – Segments

The Company’s reportable segments are business units that offer products through different channels of distribution and are managed separately. The Company aggregates its operating divisions into three reportable segments; licensed products, non-licensed products and retail operations. The Vilebrequin business acquired in August 2012, including the retail operations conducted by Vilebrequin, is part of the non-licensed product segment. There is substantial intersegment cooperation, cost allocations and sharing of assets between the licensed and non-licensed products segments. As a result, the Company does not represent that these segments, if operated independently, would report the operating results set forth in the table below. The following information, in thousands, is presented for the three month and six month periods indicated below:

	Three Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	202,454	$	70,400	$	41,097		$	(9,793	)	$	304,158
Cost of goods sold		147,689		45,887		20,950			(9,787	)		204,739
Gross profit		54,765		24,513		20,147			(6	)		99,419
Selling, general and administrative		48,495		19,964		20,621			(36	)		89,044
Depreciation and amortization		575		1,875		792			—			3,242
Operating profit (loss)	$	5,695	$	2,674	$	(1,266	)	$	30		$	7,133

	Three Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	178,419	$	48,265	$	32,914		$	(8,119	)	$	251,479
Cost of goods sold		131,712		35,918		17,125			(8,119	)		176,636
Gross profit		46,707		12,347		15,789			—			74,843
Selling, general and administrative		42,405		9,579		17,470			—			69,454
Depreciation and amortization		502		994		604			—			2,100
Operating profit (loss)	$	3,800	$	1,774	$	(2,285	)	$	—		$	3,289

	Six Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	382,961	$	131,089	$	86,347	$	(23,624	)	$	576,773
Cost of goods sold		277,991		87,382		43,160		(23,572	)		384,961
Gross profit		104,970		43,707		43,187		(52	)		191,812
Selling, general and administrative		94,752		39,262		40,956		(98	)		174,872
Depreciation and amortization		1,060		3,814		1,489		—			6,363
Operating profit	$	9,158	$	631	$	742	$	46		$	10,577

	Six Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	335,373	$	95,602	$	69,050		$	(19,097	)	$	480,928
Cost of goods sold		248,375		71,601		36,516			(19,097	)		337,395
Gross profit		86,998		24,001		32,534			—			143,533
Selling, general and administrative		81,918		19,676		34,474			—			136,068
Depreciation and amortization		1,003		1,977		1,173			—			4,153
Operating profit (loss)	$	4,077	$	2,348	$	(3,113	)	$	—		$	3,312

(1) Represents intersegment sales to the Company’s retail operations.

Included in finished goods inventory at July 31, 2013 are approximately $272.0 million, $66.9 million and $56.7 million of inventories for licensed products, non-licensed products and retail operations, respectively. Included in finished goods inventory at July 31, 2012 are approximately $227.5 million, $57.9 million and $41.0 million of inventories for licensed products, non-licensed products and retail operations, respectively. Substantially all other assets are commingled.

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Net Income per Common Share

6 Months Ended

Jul. 31, 2013

Earnings Per Share [Abstract]

Net Income per Common Share

Note 4 – Net Income per Common Share

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options, during the period. All share based payments outstanding that vest based on the achievement of performance or market conditions, and for which the respective performance or market conditions have not been achieved, have been excluded from the diluted per share calculation as their inclusion would be anti-dilutive. For the six months ended July 31, 2013 and 2012, 272,365 and 245,297 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards.

A reconciliation between basic and diluted net income per share is as follows:

	Three Months Ended July 31,				Six Months Ended July 31,
	2013		2012		2013		2012
	(In thousands, except per share amounts)
Net income	$	3,592	$	1,362	$	4,710	$	514
Basic net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Basic net income per share	$	0.18	$	0.07	$	0.23	$	0.03
Diluted net income per share:
Basic common shares		20,305		19,995		20,234		19,928
Restricted stock awards and stock options		448		336		452		406
Diluted common shares		20,753		20,331		20,686		20,334
Diluted net income per share	$	0.17	$	0.07	$	0.23	$	0.03

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Segments - Information regarding reportable segments (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jul. 31, 2013		Jul. 31, 2012		Jul. 31, 2013		Jul. 31, 2012
Segment Reporting Information [Line Items]
Net sales	$ 304,158		$ 251,479		$ 576,773		$ 480,928
Cost of goods sold	204,739		176,636		384,961		337,395
Gross profit	99,419		74,843		191,812		143,533
Selling, general and administrative	89,044		69,454		174,872		136,068
Depreciation and amortization	3,242		2,100		6,363		4,153
Operating profit (loss)	7,133		3,289		10,577		3,312
Operating Segments | Licensed
Segment Reporting Information [Line Items]
Net sales	202,454		178,419		382,961		335,373
Cost of goods sold	147,689		131,712		277,991		248,375
Gross profit	54,765		46,707		104,970		86,998
Selling, general and administrative	48,495		42,405		94,752		81,918
Depreciation and amortization	575		502		1,060		1,003
Operating profit (loss)	5,695		3,800		9,158		4,077
Operating Segments | Non-licensed
Segment Reporting Information [Line Items]
Net sales	70,400		48,265		131,089		95,602
Cost of goods sold	45,887		35,918		87,382		71,601
Gross profit	24,513		12,347		43,707		24,001
Selling, general and administrative	19,964		9,579		39,262		19,676
Depreciation and amortization	1,875		994		3,814		1,977
Operating profit (loss)	2,674		1,774		631		2,348
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net sales	41,097		32,914		86,347		69,050
Cost of goods sold	20,950		17,125		43,160		36,516
Gross profit	20,147		15,789		43,187		32,534
Selling, general and administrative	20,621		17,470		40,956		34,474
Depreciation and amortization	792		604		1,489		1,173
Operating profit (loss)	(1,266)		(2,285)		742		(3,113)
Elimination
Segment Reporting Information [Line Items]
Net sales	(9,793)	[1]	(8,119)	[1]	(23,624)	[1]	(19,097)	[1]
Cost of goods sold	(9,787)	[1]	(8,119)	[1]	(23,572)	[1]	(19,097)	[1]
Gross profit	(6)	[1]		[1]	(52)	[1]		[1]
Selling, general and administrative	(36)	[1]		[1]	(98)	[1]		[1]
Depreciation and amortization		[1]		[1]		[1]		[1]
Operating profit (loss)	$ 30	[1]		[1]	$ 46	[1]		[1]

[1] Represents intersegment sales to the Company's retail operations.

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CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Jul. 31, 2013	Jan. 31, 2013	Jul. 31, 2012
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 38,285	$ 45,947	$ 28,747
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	80,000,000	80,000,000	80,000,000
Common stock, shares issued	20,889,322	20,616,957	20,524,429
Treasury stock, shares	492,225	492,225	492,225

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Subsequent Events

6 Months Ended

Jul. 31, 2013

Subsequent Events [Abstract]

Subsequent Events

Note 9 – Subsequent Events

The Company has considered subsequent events up to the filing date and does not believe there are any occurrences that would have a material impact on the Company’s results of operations.

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jul. 31, 2013	Jul. 31, 2012
Cash flows from operating activities
Net income	$ 4,371	$ 459
Adjustments to reconcile net income to net cash used by operating activities:
Depreciation and amortization	6,363	4,153
Equity based compensation	4,107	2,964
Tax benefit from exercise/vesting of equity awards	4,550	1,054
Deferred financing charges	335	119
Equity loss in joint venture		433
Changes in operating assets and liabilities:
Accounts receivable, net	15,569	(22,306)
Inventories	(125,439)	(82,868)
Income taxes, net	(16,767)	(6,680)
Prepaid expenses and other current assets	(16,225)	(12,547)
Other assets, net	(12,554)	(245)
Accounts payable, accrued expenses and other liabilities	76,743	57,727
Net cash used in operating activities	(58,947)	(57,737)
Cash flows from investing activities
Capital expenditures	(10,680)	(4,518)
Net cash used in investing activities	(10,680)	(4,518)
Cash flows from financing activities
Proceeds from notes payable, net	57,092	56,957
Proceeds from exercise of equity awards	760	269
Excess tax benefit from exercise/vesting of equity awards	2,957	1,362
Loss attributable to noncontrolling interest	339	1,715
Taxes paid for net share settlement	(946)
Net cash provided by financing activities	60,202	60,303
Effect of exchange rate changes	(1,481)	(55)
Net decrease in cash and cash equivalents	(10,906)	(2,007)
Cash and cash equivalents at beginning of period	27,360	24,660
Cash and cash equivalents at end of period	16,454	22,653
Cash paid during the period for:
Interest	3,411	1,902
Income taxes	$ 14,874	$ 4,438

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Jan. 31, 2013	Jul. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 16,454	$ 27,360	$ 22,653
Accounts receivable, net of allowance for doubtful accounts and sales discounts of $38,285, $28,747 and $45,947, respectively	162,563	178,216	184,816
Inventories	406,246	280,929	336,389
Prepaid income taxes	4,586		468
Deferred income taxes, net	10,318	10,285	9,559
Prepaid expenses and other current assets	36,011	19,795	27,075
Total current assets	636,178	516,585	580,960
INVESTMENT IN JOINT VENTURE			2,236
PROPERTY AND EQUIPMENT, NET	46,016	40,816	34,110
OTHER ASSETS	31,858	10,053	1,706
OTHER INTANGIBLES, NET	14,018	13,860	3,311
TRADEMARKS, NET	75,137	76,062	13,920
GOODWILL	54,153	60,396	26,100
Total assets	857,360	717,772	662,343
CURRENT LIABILITIES
Notes payable	122,092	65,000	87,007
Income taxes payable		12,181
Accounts payable	195,549	104,037	171,374
Accrued expenses	37,851	51,998	25,435
Total current liabilities	355,492	233,216	283,816
NOTES PAYABLE	19,518	19,778
DEFERRED INCOME TAXES, NET	19,235	14,442	1,289
DUE TO NONCONTROLLING SHAREHOLDER	3,203	2,275	1,568
CONTINGENT PURCHASE PRICE PAYABLE	5,711	5,787
OTHER NON-CURRENT LIABILITIES	14,257	13,034	11,498
TOTAL LIABILITIES	417,416	288,532	298,171
STOCKHOLDERS' EQUITY
Preferred stock; 1,000,000 shares authorized; No shares issued and outstanding
Common stock - $.01 par value; 80,000,000 shares authorized; 20,889,322, 20,524,429 and 20,616,957 shares issued	210	206	205
Additional paid-in capital	179,834	171,132	165,749
Accumulated other comprehensive (loss) income	1,008	3,523	(51)
Retained earnings	263,289	258,437	202,076
Common stock held in treasury, at cost - 492,225 shares	(3,899)	(3,899)	(3,899)
Total G-III stockholders' equity	440,442	429,399	364,080
Noncontrolling interest	(498)	(159)	92
Total stockholders' equity	439,944	429,240	364,172
Total liabilities and shareholders' equity	$ 857,360	$ 717,772	$ 662,343

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Investment in Joint Ventures - Additional information (Detail Textuals)	1 Months Ended
	Oct. 31, 2012 Store	Apr. 30, 2013
Equity Method Investments And Joint Ventures [Abstract]
Ownership interest in joint venture		51.00%
Percentage of ownership interest sold	50.00%
Number of outlets	11

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Inventories - Summary of inventories (Details) (USD $) In Thousands, unless otherwise specified	Jul. 31, 2013	Jan. 31, 2013	Jul. 31, 2012
Inventory Disclosure [Abstract]
Finished goods	$ 395,600	$ 271,155	$ 326,420
Raw materials and work-in-process	10,646	9,774	9,969
Inventories	$ 406,246	$ 280,929	$ 336,389

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Recent Accounting Pronouncements

6 Months Ended

Jul. 31, 2013

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

Note 8 – Recent Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-02 (ASU 2013-02), “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required to be reclassified in its entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on the Company’s results of operations or financial position.

In March 2013, the FASB issued ASU 2013-04, which updated the guidance in ASC Topic 405, Liabilities. The amendments in ASU 2013-04 generally provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this Update is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in ASU 2013-04 also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This guidance will become effective as of the beginning of the Company’s 2015 fiscal year. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not anticipate that these changes will have a material impact on its consolidated financial statements or disclosures.

In July 2013, the FASB issued ASU 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). The amendments in ASU 2013-11 require companies to present an unrecognized tax benefit, or a portion thereof, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, unless the uncertain tax position is not available to reduce, or would not be used to reduce, the net operating loss or tax credit carryforward under the tax law in the same jurisdiction; otherwise, the unrecognized tax benefit should be presented as a gross liability and should not be combined with a deferred tax asset. ASU 2013-11 is effective for annual periods beginning after December 15, 2013 and should be applied to all unrecognized tax benefits that exist as of the effective date. Companies may choose to apply this guidance retrospectively to each prior reporting period presented. The Company is currently evaluating the potential impact of this update.

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Acquisition of Vilebrequin (Tables)

6 Months Ended

Jul. 31, 2013

Business Combinations [Abstract]

Summary of Components of Preliminary Purchase Price Allocation for Acquisition of Vilebrequin

The following table (in thousands) summarizes the components of the purchase price allocation for the acquisition of Vilebrequin:

Purchase price:
Cash paid	$	87,573
Notes issued		18,633
Fair value of contingent consideration		5,452
	$	111,658
Allocation:
Current assets	$	25,793
Property, plant and equipment		5,724
Identifiable intangible assets		68,847
Other non-current assets, net		15,274
Assumed liabilities		(12,938	)
Deferred income taxes		(17,820	)
Goodwill		26,778
	$	111,658

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Investment in Joint Ventures

6 Months Ended

Jul. 31, 2013

Equity Method Investments And Joint Ventures [Abstract]

Investment in Joint Ventures

Note 7 – Investment in Joint Venture

During the first quarter of fiscal 2013, the Company entered into a joint venture, of which it owns 51%, to operate Calvin Klein Performance retail stores in mainland China and Hong Kong. The joint venture began operating retail locations in major Chinese markets beginning in the third quarter of fiscal 2013. As the majority owner, the Company consolidates the accounts of this joint venture in its financial statements and the results of operations are included in the retail segment.

In October 2012, the Company sold back to the Camuto Group the Company’s 50% interest in the joint venture that operated 11 outlet stores under the Vince Camuto name for an amount approximating its carrying cost. The Company’s interest in this joint venture was accounted for by the equity method.

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Acquisition of Vilebrequin

6 Months Ended

Jul. 31, 2013

Business Combinations [Abstract]

Acquisition of Vilebrequin

Note 2 – Acquisition of Vilebrequin

In August 2012, the Company acquired all of the outstanding shares of Vilebrequin International SA, a Swiss corporation (“Vilebrequin”) for aggregate consideration consisting of (i) €70.5 million (approximately $87.6 million) in cash and (ii) €15.0 million (approximately $18.6 million) of unsecured promissory notes due December 31, 2017, with interest payable at the rate of 5% per year. In addition to the aggregate consideration paid at closing, the purchase agreement provides for contingent consideration of up to €22.5 million (approximately $27.9 million) based upon achieving certain performance objectives related to the growth of the Vilebrequin business over the three years ending December 31, 2015. At July 31, 2013, the estimated contingent consideration payable was $5.7 million. The dollar equivalents to the amounts in Euro set forth in the notes to these Condensed Consolidated Financial Statements are based on the exchange rate on the date of acquisition (€1.000 equal to USD $1.242).

Vilebrequin is a premier provider of status swimwear, resort wear and related accessories. Vilebrequin sells its products in over 50 countries around the world through a network of company owned and franchised specialty retail stores and shops, as well as through select wholesale distribution.

The total consideration paid for Vilebrequin was approximately $111.7 million, including the estimated fair value of the contingent consideration at the time of acquisition. The purchase price has been allocated to the tangible assets, liabilities and identifiable intangible assets acquired based on their estimated fair values. The fair value of the contingent consideration is estimated as of the acquisition date based on the present value of the expected contingent payments, which are determined using weighted probabilities of possible payments. The allocation resulted in goodwill and intangible assets in the aggregate amount of $95.6 million related to the acquisition of Vilebrequin.

The following table (in thousands) summarizes the components of the purchase price allocation for the acquisition of Vilebrequin:

Purchase price:
Cash paid	$	87,573
Notes issued		18,633
Fair value of contingent consideration		5,452
	$	111,658
Allocation:
Current assets	$	25,793
Property, plant and equipment		5,724
Identifiable intangible assets		68,847
Other non-current assets, net		15,274
Assumed liabilities		(12,938	)
Deferred income taxes		(17,820	)
Goodwill		26,778
	$	111,658

The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management using unobservable inputs reflecting the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. The fair values of these identifiable intangible assets were determined using the discounted cash flow method, and the Company classifies these intangibles as Level 3 fair value measurements. Identifiable intangible assets acquired include trademarks valued at $58.7 million with an indefinite life, franchise agreements valued at $7.5 million with an estimated useful life of 14 years and customer relationships valued at $2.6 million with an estimated useful life of 8 years. The goodwill represents the future economic benefits expected to arise that could not be individually identified and separately recognized, including use of our existing infrastructure to expand sales of Vilebrequin products.

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Segments (Tables)

6 Months Ended

Jul. 31, 2013

Segment Reporting [Abstract]

Information Regarding Reportable Segments

The following information, in thousands, is presented for the three month and six month periods indicated below:

	Three Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	202,454	$	70,400	$	41,097		$	(9,793	)	$	304,158
Cost of goods sold		147,689		45,887		20,950			(9,787	)		204,739
Gross profit		54,765		24,513		20,147			(6	)		99,419
Selling, general and administrative		48,495		19,964		20,621			(36	)		89,044
Depreciation and amortization		575		1,875		792			—			3,242
Operating profit (loss)	$	5,695	$	2,674	$	(1,266	)	$	30		$	7,133

	Three Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	178,419	$	48,265	$	32,914		$	(8,119	)	$	251,479
Cost of goods sold		131,712		35,918		17,125			(8,119	)		176,636
Gross profit		46,707		12,347		15,789			—			74,843
Selling, general and administrative		42,405		9,579		17,470			—			69,454
Depreciation and amortization		502		994		604			—			2,100
Operating profit (loss)	$	3,800	$	1,774	$	(2,285	)	$	—		$	3,289

	Six Months Ended July 31, 2013
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	382,961	$	131,089	$	86,347	$	(23,624	)	$	576,773
Cost of goods sold		277,991		87,382		43,160		(23,572	)		384,961
Gross profit		104,970		43,707		43,187		(52	)		191,812
Selling, general and administrative		94,752		39,262		40,956		(98	)		174,872
Depreciation and amortization		1,060		3,814		1,489		—			6,363
Operating profit	$	9,158	$	631	$	742	$	46		$	10,577

	Six Months Ended July 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	335,373	$	95,602	$	69,050		$	(19,097	)	$	480,928
Cost of goods sold		248,375		71,601		36,516			(19,097	)		337,395
Gross profit		86,998		24,001		32,534			—			143,533
Selling, general and administrative		81,918		19,676		34,474			—			136,068
Depreciation and amortization		1,003		1,977		1,173			—			4,153
Operating profit (loss)	$	4,077	$	2,348	$	(3,113	)	$	—		$	3,312

(1) Represents intersegment sales to the Company’s retail operations.

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Recent Accounting Pronouncements (Policies)

6 Months Ended

Jul. 31, 2013

Accounting Changes And Error Corrections [Abstract]

Comprehensive Income

In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-02 (ASU 2013-02), “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required to be reclassified in its entirety to net income. For other amounts that are not required to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures that provide additional detail about those amounts. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. For public entities, the amendments are effective prospectively for reporting periods beginning after December 15, 2012. Early adoption is permitted. The adoption of this pronouncement did not have a material impact on the Company’s results of operations or financial position.

Liabilities

In March 2013, the FASB issued ASU 2013-04, which updated the guidance in ASC Topic 405, Liabilities. The amendments in ASU 2013-04 generally provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this Update is fixed at the reporting date, except for obligations addressed within existing guidance in GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in ASU 2013-04 also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This guidance will become effective as of the beginning of the Company’s 2015 fiscal year. The adoption of this guidance is not expected to have a material impact on the Company’s financial position or results of operations.

Foreign Currency Matters

In March 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not anticipate that these changes will have a material impact on its consolidated financial statements or disclosures.

Income taxes

In July 2013, the FASB issued ASU 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). The amendments in ASU 2013-11 require companies to present an unrecognized tax benefit, or a portion thereof, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, unless the uncertain tax position is not available to reduce, or would not be used to reduce, the net operating loss or tax credit carryforward under the tax law in the same jurisdiction; otherwise, the unrecognized tax benefit should be presented as a gross liability and should not be combined with a deferred tax asset. ASU 2013-11 is effective for annual periods beginning after December 15, 2013 and should be applied to all unrecognized tax benefits that exist as of the effective date. Companies may choose to apply this guidance retrospectively to each prior reporting period presented. The Company is currently evaluating the potential impact of this update.

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Acquisition of Vilebrequin - Summary of components of preliminary purchase price allocation (Details) In Thousands, unless otherwise specified				1 Months Ended
	Jul. 31, 2013 USD ($)	Jan. 31, 2013 USD ($)	Jul. 31, 2012 USD ($)	Aug. 07, 2012 Vilebrequin USD ($)	Aug. 07, 2012 Vilebrequin EUR (€)	Jul. 31, 2013 Vilebrequin USD ($)
Purchase price:
Cash paid				$ 87,573	€ 70,500
Notes issued				18,633	15,000
Fair value of contingent consideration	5,711	5,787		5,452		5,700
Total consideration paid by the company in business acquisition				111,658
Allocation:
Current assets				25,793
Property, plant and equipment				5,724
Identifiable intangible assets				68,847
Other non-current assets, net				15,274
Assumed liabilities				(12,938)
Deferred income taxes				(17,820)
Goodwill	54,153	60,396	26,100	26,778
Business acquisition, purchase price allocation, assets acquired (liabilities assumed), net, total				$ 111,658

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Basis of Presentation - (Detail Textuals)	Apr. 30, 2013
Accounting Policies [Abstract]
Ownership interest in joint venture	51.00%

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Document and Entity Information	6 Months Ended
	Jul. 31, 2013	Sep. 01, 2013
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2013
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Trading Symbol	giii
Entity Registrant Name	G III APPAREL GROUP LTD /DE/
Entity Central Index Key	0000821002
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		20,397,097

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Acquisition of Vilebrequin - (Detail Textuals)	6 Months Ended		1 Months Ended			1 Months Ended
	Jul. 31, 2013 USD ($) Country	Jan. 31, 2013 USD ($)	Aug. 07, 2012 Vilebrequin USD ($)	Aug. 07, 2012 Vilebrequin EUR (€)	Jul. 31, 2013 Vilebrequin USD ($)	Aug. 07, 2012 Vilebrequin Franchise Rights USD ($)	Aug. 07, 2012 Vilebrequin Customer Relationships USD ($)	Aug. 07, 2012 Vilebrequin Trademarks USD ($)	Aug. 07, 2012 Vilebrequin Unsecured promissory notes
Business Acquisition [Line Items]
Business acquisition agreement consideration in cash			$ 87,573,000	€ 70,500,000
Business acquisition, liabilities incurred			18,633,000	15,000,000
Business acquisition, note interest payable rate									5.00%
Maturity date of note			Dec. 31, 2017	Dec. 31, 2017
Business acquisition, contingent future payment			27,900,000	22,500,000
Contingent consideration payable	5,711,000	5,787,000	5,452,000		5,700,000
Exchange rate on the date of acquisition			$ 1.242	€ 1.000
Products sold in number of countries	50
Total consideration paid by the company in business acquisition			111,658,000
Business acquisition, acquired goodwill and intangible assets			95,600,000
Acquired indefinite lived intangible asset amount								58,700,000
Acquired finite lived intangible asset amount						$ 7,500,000	$ 2,600,000
Acquired finite lived intangible assets, estimated useful life						14 years	8 years