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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Jan. 31, 2018
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | NOTE N — RELATED PARTY TRANSACTIONS Transactions with Fabco G-III owns a 49% ownership interest in Fabco and is considered a related party of Fabco (see Note M). The Company sells inventory to Fabco and granted Fabco’s subsidiary the right to use certain Donna Karan and DKNY trademarks. In fiscal 2018, the Company sold $286,000 in inventory to Fabco. As of January 31, 2018, Fabco prepaid $517,000 to the Company for minimum royalties and marketing fees relating to the first quarter of 2018 and has a $97,000 payable balance relating to inventory purchased from the Company and its subsidiaries. Transactions with LVMH On December 1, 2016, in connection with the acquisition of DKI, the Company issued approximately 2.6 million shares of G-III’s common stock to LVMH equal to $75 million. LVMH’s holdings represent 5.4% of the Company’s outstanding common stock. LVMH is considered a related party as a result of its beneficial ownership in the Company’s common stock being greater than 5%. On December 1, 2016, LVMH issued a junior lien secured promissory note in the principal amount of $125.0 million in connection with the acquisition of DKI that bears interest at the rate of 2% per annum. The Company paid interest in the amount of $2.5 million to LVMH in fiscal 2018 and has a $212,000 interest payable balance as of January 31, 2018. The Company paid interest in the amount of   $212,000 to LVMH in fiscal 2017 and had a $212,000 interest payable balance as of January 31, 2017. The Company also had a balance due from LVMH in the amount of  $7.3 million as a result of a working capital adjustment pursuant to the purchase agreement. This amount was included in prepaid expenses and other current assets in the accompanying Balance Sheet at January 31, 2017 and was paid by LVMH in March 2017. Transaction with KL North America G-III owns a 49% ownership interest in KLNA and is considered a related party of KLNA (see note M). The Company entered into a licensing agreement to use the brand rights to certain Karl Lagerfeld Paris trademarks held by KLNA. The Company incurred royalty and advertising expense of  $4.8 million, $4.0 million and $1.0 million for the years ended January 31, 2018, 2017 and 2016, respectively. The Company began shipping Karl Lagerfeld Paris product in October 2015. As such, the expense for fiscal 2016 represents only four months of activity. The amount of royalty and advertising due to KLNA as of January 31, 2018, 2017 and 2016 was $1.5 million, $656,000 and $60,000, respectively.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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