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Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities
The Company’s financial assets and liabilities subject to fair value measurements as of March 31, 2025 and December 31, 2024 were as follows:
 March 31, 2025December 31, 2024
 Fair valueLevel 1Level 2Level 3Fair valueLevel 1Level 2Level 3
Assets:    
Forward contracts$4,972 — $4,972 — $2,175 — $2,175 — 
Total assets$4,972 $— $4,972 $— $2,175 $— $2,175 $— 
Liabilities:    
Contingent payment liability(1)(2)
$3,070 $— $— $3,070 $7,565 $— $— $7,565 
Forward contracts192 — 192 — 816 — 816 — 
Total liabilities$3,262 $— $192 $3,070 $8,381 $— $816 $7,565 
(1) As of March 31, 2025, $3,070 was recorded in Contingent payment liability - long-term portion.
(2) As of December 31, 2024, $7,565 was recorded in Contingent payment liability - long-term portion.
The Company uses derivative instruments, specifically, forward foreign exchange contracts, to manage the risk associated with the volatility of future cash flows. Fair value of these instruments is based on observable market transactions of spot and forward rates. Refer to Note 12 – Derivative Instruments for further information.
The following table provides a reconciliation of the beginning and ending balances for the contingent payment liabilities included within Level 3 of the fair value hierarchy for the periods ended March 31, 2025 and December 31, 2024:
 March 31, 2025December 31, 2024
Balance at beginning of year$7,565 $13,300 
Adjustments(1)
(4,495)2,722 
Acquisitions— 90 
Payments(2)
— (8,547)
Balance at end of period$3,070 $7,565 
(1) In the 2025 and 2024 periods, amounts consisted of adjustments of $(4,495) and $2,722, respectively, which were related to the change in valuation of the contingent payment liabilities in connection with the acquisitions of Almost Famous and ATM. These adjustments were recorded in income from operations in the Condensed Consolidated Statements of Income for the Wholesale Accessories/Apparel segment.
(2) For the 2024 period, the payment of $8,547 was related to the contingent payment liability in connection with the acquisition of Almost Famous and was measured based upon actual EBIT performance for the related performance period. The payment was included as cash used in financing activities in the Consolidated Statement of Cash Flows for the year ended December 31, 2024.