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G-III Apparel Group Ltd. has entered into a joint venture agreement with China Ting Group Holdings Ltd. to open and operate women’s Calvin Klein Performance stores in China and Hong Kong.
Under the terms of the agreement, G-III will retain a 51 percent ownership stake. G-III will operate the stores, which are expected to open this fall, under a license granted to it by Calvin Klein Inc. in December. The agreement gives G-III the right to open the stores in the U.S., China and Hong Kong, with rights to expand to additional countries. The first Calvin Klein Performance store opened in the U.S. last month in Scottsdale, Ariz. CKI is a wholly owned subsidiary of PVH Corp. G-III has had the women’s wholesale Calvin Klein Performance license since 2007.
The products offered will be women’s active apparel in the athletic and performancewear categories developed and produced under G-III’s license from CKI. They include pants, capris, shorts, tank tops, T-shirts and hooded jackets suitable for yoga, running, tennis and biking.
Morris Goldfarb, chairman and chief executive officer of G-III, said, “With strong relationships and an excellent track record, G-III and China Ting are well able to serve the market opportunity in…