G-III Apparel Group, an American clothing company which designs, manufactures, and markets women's and men's apparel, agreed to acquire Sonia Rykiel, a European luxury fashion brand. Financial terms were not disclosed. "We are extremely pleased to purchase the Sonia Rykiel brand which further enables us to expand into the luxury space. We believe there is significant opportunity to unlock the untapped potential of this brand as we look to accelerate our global reach. We will leverage the existing executive management team and infrastructure based in Europe, as well as G-III’s supply chain expertise to scale and grow the Sonia Rykiel business across apparel, accessories and numerous other lifestyle categories," Morris Goldfarb, G-III Chairman and CEO.