<SEC-DOCUMENT>0001571049-14-003724.txt : 20150505
<SEC-HEADER>0001571049-14-003724.hdr.sgml : 20150505
<ACCEPTANCE-DATETIME>20140806154220
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001571049-14-003724
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20140806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			G III APPAREL GROUP LTD /DE/
		CENTRAL INDEX KEY:			0000821002
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				411590959
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		512 SEVENTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		2126298830

	MAIL ADDRESS:	
		STREET 1:		512 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANTE CORP
		DATE OF NAME CHANGE:	19891120
</SEC-HEADER>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">August 6, 2014</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>VIA EDGAR AND FEDERAL EXPRESS</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Division of Corporate Finance</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Washington, DC 20549</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Attention: Tia L. Jenkins, Senior Assistant Chief Accountant</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 18pt"></TD><TD STYLE="width: 40.3pt"><B>Re:</B></TD><TD><B>G-III Apparel Group, Ltd.</B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 58.5pt"><B>Form 10-K for the Fiscal Year Ended January
31, 2014</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 58.5pt"><B>Filed March 31, 2014</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 58.5pt"><B>File No. 000-18183</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 58.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Set forth below
are the responses of G-III Apparel Group, Ltd. (<B>&ldquo;G-III,&rdquo;</B> the &ldquo;<B>Company</B>,&rdquo; &ldquo;<B>we</B>&rdquo;
or &ldquo;<B>our</B>&rdquo;) to the comments of the staff (the &ldquo;<B>Staff</B>&rdquo;) of the U.S. Securities and Exchange
Commission (the &ldquo;<B>Commission</B>&rdquo;), contained in the Staff&rsquo;s letter dated July 9, 2014, in connection with
the Company&rsquo;s Form 10-K for the fiscal year ended January 31, 2014, filed with the Commission on March 31, 2014. It should
be read in conjunction with our letter dated February 24, 2014 responding to the Staff&rsquo;s comment letter dated January 28,
2014, our letter dated March 28, 2014 responding to the Staff&rsquo;s comment letter dated March 5, 2014, our letter dated May
12, 2014 responding to the Staff&rsquo;s comment letter dated April 15, 2014 and our letter dated June 25, 2014 in response to
a phone conversation on June 20, 2014 between James Giugliano and Rufus Decker of the Staff and me. For convenience of reference,
we have recited the Staff&rsquo;s comments in bold face type and have followed each comment with the Company&rsquo;s response.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In order to facilitate your
review we have summarized certain key facts and considerations from our previous communications regarding how the Chief Operating
Decision Maker (&ldquo;CODM&rdquo;) manages the business.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The CEO who is also the
CODM defines the Company&rsquo;s global strategy and is accountable to the Board of Directors based on the successes or
failures of strategies implemented. The Company&rsquo;s current and historical goal is to continue to become a diversified
apparel company and brand owner. At a high level the CODM focuses on the results of the wholesale business (including both
the licensed and non-licensed operating segments) as a whole, as well as the results of the retail operating segment. There
are many distinctions between the wholesale and retail businesses, including that the wholesale business is primarily managed
from the Company&rsquo;s headquarters in New York and shares its own IT systems. The retail operations are based in
Minneapolis, MN and have a separate IT system and management team. The wholesale business, licensed and non-licensed
operating segments, are highly integrated and share a number of common processes; with sales to the same or similar customers
(retailers) and similar procurement and distribution processes. The distinction between the licensed and non-licensed
segments plays a key role for the CODM in his view of the wholesale business in order to define the business&rsquo; long term
goals and develop strategies to fuel growth. Licensed products involve restrictions based on agreements with third parties, require
stipulated advertising and marketing, usually based on a stipulated percentage of sales, and there are set limits for
off-price sales, among other factors. There is also a risk that future sales could cease for licensed products if the license
agreement is not renewed. Non-licensed products on the other hand provide the Company with total discretion as to the
management of the products and sales, including advertising and marketing and off-price sales. These distinctions are a key
factor in the CODM&rsquo;s view of the wholesale business and overall management of its growth. The key decision
points regarding the allocation of resources are to expand current license relationships or enter into new licenses versus
expanding the portfolio of owned brands through acquisition or creation. Accordingly in making these strategic decisions our
CODM utilizes the financial information at the licensed and non-licensed operating segment level to facilitate the
decisions regarding the expansion of the wholesale business.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The acquisition of
Vilebrequin constitutes an example of a strategic decision that was based on operating segment information as the
Company was and continues to seek to expand its portfolio of owned brands. Another example was the recent decision to
acquire the G.H. Bass business, which was partially driven by the fact that the G.H. Bass business was determined to be
easily integrated into the retail operating segment, as the retail segment had the capacity to absorb the acquisition from an
IT, distribution and management perspective.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">A standard
reporting package is distributed monthly to all executives, including the CODM, which includes results at a product line,
group, operating segment and consolidated level. The information at the product line and group level is included specifically
for the use of the product line and group managers. The CODM&rsquo;s focus with respect to allocating resources is on the
aggregate results at the operating segment level as strategic decisions are based to a great extent on the operating
segment results.</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><U>Form 10-K for the Fiscal Year Ended January 31, 2014
</U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><U>Notes to Consolidated Financial Statements, page F-8 </U></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><U>Note D &ndash; Acquisitions and Intangibles, page F-13</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We note from your response to our prior comment 1 that you have excluded the disclosure required
by FASB ASC 805-10-50-2(h) due to immateriality. To the extent you believe the G.H. Bass acquisition was material enough to warrant
disclosure under FASB ASC 805-10-50-2, it is unclear to us why you would conclude the same acquisition was immaterial in regards
to the disclosure requirements of paragraph 2(h) of that same section. Please expand your disclosure in future filings, including
your next interim filing, to include the requirements of FASB ASC 805-10-50-2(h) or tell us why these particular disclosures are
either immaterial or otherwise not required. In your response to this comment, provide us with a draft of your proposed future
disclosure. In regards to your reference to the Significant Subsidiary thresholds of Regulation S-X, please note these thresholds
should not be considered in your assessment of financial statement materiality and are limited to the purposes referenced in Regulation
S-X.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">We would like to clarify to
the Staff that while we believe that the acquisition of G.H. Bass was immaterial to the Company&rsquo;s financial statements, we
voluntarily decided to include certain information with respect to this acquisition for the purpose of enhancing the information
provided to users of our financial statements.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Based on ASC 105-10-05-6,
the provisions of ASC 805-10-50-2 do not need to be applied to immaterial acquisitions. G-III&rsquo;s investment in G.H. Bass,
which consisted primarily of the purchase of inventory held for sale by G.H. Bass, represented 6.9% of the Company&rsquo;s total
assets as of the most recent annual audited financial statement of G-III, which was the fiscal year ended January 31, 2013 (<B>&ldquo;fiscal
2013&rdquo;</B>), and G.H. Bass&rsquo; earnings from operations before interest and income taxes for fiscal 2013 represented 4.6%
of G-III&rsquo;s earnings from operations before interest and income taxes for fiscal 2013. As ASC 805-10-50 does not include guidance
as to what is considered material, we analyzed the financial information available to us with respect to G.H. Bass and determined
that the acquisition of G.H. Bass was immaterial to G-III&rsquo;s financial statements.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Although we concluded that
ASC 805-10-50-2 disclosure requirements were not applicable to the G.H. Bass acquisition, the accounting pronouncement does not
preclude us from making disclosures with respect to an acquisition regardless of materiality. As such, we chose to include certain
qualitative and quantitative information about the G.H. Bass acquisition, specifically the purchase price allocation. Our growth
includes diversifying our product categories and distribution channels as well as our portfolio of brands through acquisition.
The acquisition of G.H. Bass allowed G-III to expand to a new product category, footwear, as well as to expand our brand portfolio
with a well-known heritage brand. As the marketplace was aware of our acquisition of G.H. Bass, we chose to include quantitative
information with respect to G.H. Bass in the Form 10-K indicating the size of the G.H. Bass&rsquo; business relative to the size of the
Company&rsquo;s business. As a result of our determination that the acquisition of G.H. Bass was not material to our financial
statements, we have not included any proposed future disclosure in this response.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><U>Note K &ndash; Segments, page F-23</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Please clarify for us the manner in which the CODM reviews product line information to allocate
resources and assess performance, if at all.</B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In Appendix 1 of our letter
to the Staff dated May 12, 2014, we listed schedules used by the CODM to perform his monthly review in order to assess performance
and allocate resources. As indicated in that response letter, the most significant resource allocation decisions involve expanding
our portfolio of brands through acquisitions or new licenses, the opening of new stores for our retail operations segment and other
capital expenditure decisions relating to the operation of our business. Product line information may be reviewed if additional
details are needed, but the decisions are made at a broader level, considering the strategic growth and direction of the Company&rsquo;s
operating segments and the business as a whole. For example, if the sales growth of an operating segment does not meet the CODM&rsquo;s
expectations, he may look at the details of the product lines to identify the root cause. As a result, this could prompt a decision
to seek out an additional product line/brand in that segment.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>We note from your prior responses that there are no managers at the operating segment level
(except for the retail group). Please provide us with a detailed discussion of how the CODM reviews the performance of these segments
and how he holds those accountable for the performance of the operating segment. </B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The CODM reviews the quantitative
information at the consolidated level and for each segment using the information that is provided to him in the monthly reporting
package (see response 2 in our letter dated March 28, 2014 and Appendix 1 of our letter dated May 12, 2014). In addition, the CODM
gathers, on a daily basis, qualitative information, such as, but not limited to, market trends, sourcing issues, brand strength,
customer relationships and feedback he receives internally from discussions with group and product line managers. The CODM has
been serving as a senior executive of the Company and its predecessors since its formation in 1974. He largely contributed to G-III&rsquo;s
development and has been involved in all aspects of the Company over the past 40 years. His knowledge of the Company, along with
the informal information collected through discussions with the product and/or group managers, assist him to set expectations at
the consolidated level, at the segment level, and, on a case by case basis, at the product line level. When performing his review,
the CODM focuses on a number of metrics including, but not limited to, net sales, gross margin, selling, general and administrative
expenses and operating margins. Profit and loss schedules at the consolidated and segment level included in the monthly reporting
package include comparative information against the prior fiscal year and the budget. The CODM reviews these metrics and compares
them against his expectations to assess each segment&rsquo;s performance and determine who can be held accountable for it. The
CODM then addresses his questions to executive officers, finance department personnel, group managers and product line managers
depending on the nature of the inquiry.<BR CLEAR="ALL">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>We have reviewed your response to our prior comment 3 from your letter dated May 12, 2014, noting
that your budget process is collaborative and includes your CODM, group managers and product line managers. Please elaborate on
your budget process and also tell us the: </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>methodology used to prepare the budget (e.g. top-down approach or bottom-up approach), </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>individual or group of individuals who approve the operating budget, </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>line items included in the approved budget and whether the budgets are organized by segment,
group, product or some other manner, </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>person who approves mid-year or intra-period changes in budgets, and the level at which those
changes are proposed and approved, and </B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><B>nature of the communications that address budget variances, including when and how the CODM
is informed of these variances. </B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The budget process is a bottom-up
approach and ultimately flows through the Corporate finance department. Sales and gross margin expectations are provided by group
and product line managers at the product line level and summarized at the operating segment level.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Expense line items are budgeted
by a centralized forecasting department. Selling, general and administrative expense line items use specific cost drivers to determine
the budgeted amounts. The personnel expense budget includes line items such as salary, bonuses, equity award compensation, 401(k)
employer contributions and employer payroll taxes, which are budgeted based on the current payroll run rate and prospective hiring
needs. Advertising and promotion expense is budgeted based on budgeted sales and contractual rates under our license agreements,
for the licensed product lines, and budgeted sales and historical advertising expenses (taking into consideration planned advertising
campaigns), for the non-licensed product lines. Outside warehousing is based on the number of units that are budgeted to be shipped.
Other expenses are either budgeted by applying an average growth rate or are budgeted based on current contractual requirements.
Selling, general and administrative expenses are allocated to the product lines using various methods. These allocations are approved
by the CFO and not reviewed by the CODM.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Sales and gross margin budgets
prepared by product line managers are combined with the selling, general and administrative expenses budgets prepared by the centralized
forecasting group. The CODM reviews and approves the budget at the operating segment and consolidated level.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Expenditures for large projects,
such as (showroom expansion, warehouse or office development, in-store shop development and information systems), are estimated
by a centralized forecasting group and are approved by the CODM on a project by project basis.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Mid-year changes are not made
to the budget, but rather a reforecasting process takes place each quarter. The quarterly reforecasts are prepared at the same
level as the annual budget and approved by the CFO and/or CODM as described above.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Budget variances are communicated
periodically throughout the year on an informal basis by group managers to the CODM and more formally are part of the year to date
monthly reporting package that captures all product lines.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Please identify those individuals who are responsible for product line results (e.g., the product
line managers, the group managers, or some other manager) and to whom those individuals report. </B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The hierarchical organization of group and product line managers is not consistent
across the Company. In some instances, product line and group managers are two different individuals. In other instances, the product
line manager and the group manager is the same person.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In order to clearly identify
which individual is responsible for a group, a product line or both, we have provided a list of the product lines and their respective
managers and group managers in Appendix 1 to this letter. Group managers report to the CEO who is also the CODM. Groups are created
based upon the group managers&rsquo; competencies and capacities.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>We have reviewed your response to our prior comment 3 from your letter dated May 12, 2014 noting
product lines may move between groups. Please provide us with a detailed discussion of how frequently in the past product lines
have been shifted from one group to another group, and whether there are plans to move product lines from one group to another
in the future. </B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Over the past five years,
seven product lines have been moved from one group to another. In the current fiscal year, the Jessica Simpson dresses product
line has moved from the Jessica Howard group to the Winlit group. As of today, there is no plan to move any particular product
line.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">There are different reasons
for these moves. A product line may be moved from one group to another in order to reallocate the workload of a product line/group
manager to another product line/group manager in a different group. A product line may also be moved from one group to another
because a product line manager can create or improve synergies between its existing product line portfolio and the product line
that is moved to him or her. A product line may be moved to another group due to customer or licensor relationships. A product
line may also be moved due to personnel capacity and skill issues. Product lines are moved from one group to another on an as-needed
basis as recommended by group managers subject to the approval of the CODM.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Company&rsquo;s groups
are a flexible hierarchical structure used to delegate and manage the product lines of the Company. Groups are created based upon
the group managers&rsquo; competencies and capacities rather than product considerations. As a result, a group may include different
type of products across the non-licensed and licensed segments. Furthermore, the underlying composition of the product lines within
the group has been subject to changes from year to year. Accordingly, we do not believe that our groups are operating segments.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">We have also
considered whether product lines are operating segments and have concluded that they are not. While the CODM periodically, on
a case by case limited basis, assess the performance of our 61 product lines, there are no significant resource allocation
decisions that he is involved with at the product line level. Licensed product lines are allocated resources based primarily
upon the license agreement&rsquo;s terms and conditions. Non-licensed product lines afford more flexibility in resource
allocation but have not involved significant resource allocation decisions based upon their specific performance.
Furthermore, the CODM&rsquo;s primary focus, when reviewing Company financial information, is the opportunity and ability to
grow revenues of individual operating segments (licensed and non-licensed). The Company&rsquo;s most critical resource
allocation decisions are around gaining brand distribution to enable sales growth. The licensed segment gains brand
distribution through entering into new licensed arrangements and the non-licensed segment through the acquisition of trade
names. The investment/resources allocation choice between these strategies is a critical decision point for the CODM as these
two models (entering into a new license versus purchasing a brand) have distinct risk profiles.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>Please provide us with a detailed discussion of the financial and nonfinancial performance metrics
utilized by the company to determine compensation for the CODM, the group managers and the product line manager. Please explain
the extent to which these metrics are tied to the performance of segments, groups or particular product lines or brands, if any.
</B></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><U>Response</U>:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The compensation of the CODM,
the group managers and the product line managers has three major components: base salary, bonus and long term compensation in the
form of equity awards.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Base salaries are determined
at the time of hire based upon individual circumstances and the market. Periodic raises are based on individual performance and
overall wage increases.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
bonus for each of Morris</FONT><I> </I><FONT STYLE="font-family: Times New Roman, Times, Serif">Goldfarb (CEO and CODM) and Sammy
Aaron (Vice Chairman and group manager) is calculated based on the consolidated pre-tax results of the Company as defined in their
respective employment agreement, which latest amendments are included in the Proxy statement filed with the Commission on May 6,
2014. The calculation includes performance hurdles, defining a minimum consolidated pre-tax income to be achieved in order to be
entitled to the bonus, and performance pre-tax income targets, which define the amount of the bonus received based on a range of
the percentage difference between the actual consolidated pre-tax income and the budgeted consolidated pre-tax income as approved
by our Compensation Committee.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Group and product line manager
bonuses are either formulaic based on a profit measure of the manager&rsquo;s group or product line, discretionary or a combination
of both. To determine the amount of discretionary bonus granted to a manager, our CEO takes into consideration metrics such as
product line or group contribution to the Company&rsquo;s respective segment&rsquo;s operating income, increase in operating margin
and other objectives specifically assigned to a manager at the beginning of year.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">The Compensation Committee
determines the number of equity awards to be granted to the named executive officers after consultation with the CODM. Equity awards
for all other personnel are determined by the CODM in consultation with the Compensation Committee of the Company&rsquo;s Board
of Directors and are based on discretionary assessment of the employee&rsquo;s contribution to the Company.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company confirms that:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 57pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the Company is responsible for the adequacy and accuracy of the disclosure
in the filing;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 57pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Staff comments or changes to disclosure in response to Staff comments
do not foreclose the Commission from taking any action with respect to the filing; and </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 57pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The Company may not assert Staff comments as a defense in any proceeding
initiated by the Commission or any person under the federal securities laws of the United States.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If any member of the Staff has questions
regarding the foregoing, please do not hesitate to call or e-mail Neal S. Nackman at (212) 403-0654 or nealn@g-iii.com.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Very truly yours,</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Neal S. Nackman</FONT></TD>
    <TD STYLE="width: 50%; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Neal S. Nackman </FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer </FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD>James Giugliano, Securities and Exchange Commission</TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Angela Halac, Securities and Exchange
Commission</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Neil Gold, Esq., Fulbright &amp; Jaworski
LLP</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Manuel G. Rivera, Esq., Fulbright &amp;
Jaworski LLP</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B><U>Appendix 1: Product line managers detailed list</U></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: right">Reports directly to ----------------------&gt;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; border-bottom: Black 1pt solid; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Product Line</B></FONT></TD>
    <TD STYLE="width: 1%; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Group</B></FONT></TD>
    <TD STYLE="width: 1%; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Segment</B></FONT></TD>
    <TD STYLE="width: 1%; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Product Line Manager</B></FONT></TD>
    <TD STYLE="width: 1%; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; line-height: 115%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Group Manager</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Dockers</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Levi&rsquo;s</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Jones Women</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Kenneth Cole Men</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Kenneth Cole Women</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Brian Moorstein</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Cole Haan Men</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Robert Fylypowycz</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Robert Fylypowycz</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Cole Haan Women</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Robert Fylypowycz</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Robert Fylypowycz</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Nine West</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Susan Roessle</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Tommy Men</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ron Finestone</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sport Licensing</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Eric Schapiro</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Wayne Miller</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Children Outerwear</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Wilsons Private Label</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Women Colebrook</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Men Colebrook</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Deborah Gaertner</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G-III China</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">G III Core</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Karl McErlean</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Karl McErlean</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Accessories</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Dress</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Gary Stein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Handbag</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Roni Seiderman</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Sportswear</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Karen Greenberg</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Luggage</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Thomas Martucci</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Men outerwear</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Marc Rothstein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Women</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Marc Rothstein</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Women suit</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Performance</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Amy Kahn</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK Canada</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ivanka Trump dress</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Ivanka Trump sportswear</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Tommy Hilfiger luggage</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Vicky Tiel</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Andrew Marc handbag</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Andrew Marc performance</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Private Label</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">CK/Marvin Richards</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Non-Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Sammy Aaron</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Guess Men</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Winlit</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Licensed</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">David Winn</FONT></TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">David Winn</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
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    <TD STYLE="line-height: 115%"><FONT STYLE="font-size: 10pt">Steven Budd</FONT></TD>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
