0001558370-22-004512 | 10-K | XBRL Viewer | G III Apparel Group LTD DE

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 31, 2022

NOTE 1 — SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows:

1. Business Activity and Principles of Consolidation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, sources and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores and licenses its proprietary brands under several product categories.

The Company consolidates the accounts of its wholly-owned and majority-owned subsidiaries. Fabco Holding B.V. (“Fabco”) is a Dutch joint venture limited liability company that was 49% owned by the Company through November 30, 2020 and was accounted for using the equity method of accounting. Effective December 1, 2020, the Company increased its ownership interest in Fabco to 75% and, as a result, Fabco is treated as a consolidated majority-owned subsidiary. KL North America B.V. (“KLNA”) is a Dutch joint venture limited liability company that is 49% owned by the Company. Karl Lagerfeld Holding B.V. (“KLH”) is a Dutch limited liability company that is 19% owned by the Company. The Company accounts for these two investments using the equity method of accounting. All material intercompany balances and transactions have been eliminated.

In October 2021, the Company purchased Sonia Rykiel, a wholly-owned operating subsidiary. The results of Sonia Rykiel are included in our consolidated financial statements beginning in the fourth quarter of fiscal 2022 (See Note 15 – Sonia Rykiel). Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by the Company, KLH, KLNA, Fabco and Sonia Rykiel report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. Accordingly, the results of Vilebrequin, KLH, KLNA, Fabco and Sonia Rykiel are, and will be, included in the financial statements for the year ended or ending closest to the Company’s fiscal year. For example, with respect to the Company’s results for the fiscal year ended January 31, 2022, the results of Vilebrequin, KLH, KLNA, Fabco and Sonia Rykiel are included for the year ended December 31, 2021. The Company’s retail operations segment reports results on a 52/53-week fiscal year. For fiscal 2022, 2021 and 2020, the fiscal years for the retail operations segment were each 52-week periods, ended on January 29, 2022, January 30, 2021 and February 1, 2020, respectively.

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

3. Revenue Recognition

Wholesale revenue is recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded as customer refund liabilities. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

The Company recognizes retail sales when the customer takes possession of the goods and tenders payment, generally at the point of sale. Digital revenues from customers through the Company’s digital platforms are recognized when the customer takes possession of the goods. The Company’s sales are recorded net of applicable sales taxes.

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

4. Accounts Receivable

In the normal course of business, the Company extends credit to its wholesale customers based on pre-defined credit criteria. Accounts receivable are net of an allowance for doubtful accounts. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligation (such as in the case of bankruptcy filings, extensive delay in payment or substantial downgrading by credit sources), a specific reserve for bad debts is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the date of the financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions.

The Company’s financial instruments consist of trade receivables arising from revenue transactions in the ordinary course of business. The Company considers its trade receivables to consist of two portfolio segments: wholesale and retail trade receivables. Wholesale trade receivables result from credit the Company has extended to its wholesale customers based on pre-defined criteria and are generally due within 30 to 60 days. Retail trade receivables primarily relate to amounts due from third-party credit card processors for the settlement of debit and credit card transactions and are typically collected within 3 to 5 days. See Note 3 – Allowance For Doubtful Accounts.

5. Inventories

Wholesale inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value, which comprises a significant portion of the Company’s inventory.

Effective February 1, 2021, the Company elected to change its method of accounting for retail inventories from the lower of cost or market as determined by the retail inventory method to the lower of cost or net realizable value using the weighted average cost method. The Company believes the new method is preferable as it provides better matching of cost of goods sold with revenue, improves the precision of inventory valuation at the balance sheet dates, and more closely aligns with the valuation methods used throughout the rest of the Company. In addition, the change in inventory valuation better aligns with the way the Company manages its business with a focus on the actual margin realized.

The Company determined that it was impractical to apply this change in accounting principle retrospectively due to a lack of available information. As a result, the Company applied the change prospectively as of February 1, 2021. The cumulative adjustment as of February 1, 2021 was a decrease of $0.3 million in both inventories and retained earnings. The change in accounting principle did not have a material effect on the Company’s consolidated financial statements as of and for the year ended January 31, 2022.

Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

6. Goodwill and Other Intangibles

Goodwill represents the excess of purchase price over the fair value of net assets acquired in business combinations accounted for under the purchase method of accounting. Goodwill is subject to annual impairment tests using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. Intangible assets deemed to have indefinite lives are not amortized, but are subject to annual impairment tests using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability. Other intangibles with finite lives, including license agreements, trademarks and customer lists are amortized on a straight-line basis over the estimated useful lives of the assets (currently ranging from 5 to 17 years). Impairment charges, if any, on intangible assets with finite lives are recorded when indicators of impairment are present and the discounted cash flows estimated to be derived from those assets are less than the carrying amounts of the assets.

7. Leases

On February 1, 2019, the Company adopted ASC Topic 842 – Leases (“ASC 842”) using the optional transition method to apply the standard as of the effective date. The Company determines if an arrangement is, or contains, a lease at contract inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset. The Company has elected to account for lease and non-lease components as a single component.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All of the Company’s leases are classified as operating leases.

8. Depreciation and Amortization

Property and equipment are recorded at cost. Depreciation and amortization are computed by the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the life of the lease or the useful life of the improvement, whichever is shorter.

9. Impairment of Long-Lived Assets

All property and equipment and other long-lived assets are reviewed for potential impairment when events or changes in circumstances indicate that the asset’s carrying value may not be recoverable. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than the carrying value of the assets. A potential impairment has occurred if projected future undiscounted cash flows are less than the carrying value of the assets.

In fiscal 2022, the Company recorded a $1.5 million impairment charge related to the leasehold improvements, furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores.

In fiscal 2021, the Company recorded a $20.1 million impairment charge related to the operating lease assets, leasehold improvements and furniture and fixtures at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance at these stores.

In fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain of its Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores.

10. Income Taxes

The Company accounts for income taxes and uncertain tax positions in accordance with ASC Topic 740 — Income Taxes (“ASC 740”). Income taxes are accounted for under the liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the tax bases of assets and liabilities and their financial reporting amounts using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a return, as well as guidance on de-recognition, classification, interest and penalties and financial statement reporting disclosures. It is also the Company's policy to provide for uncertain tax positions and the related interest and penalties based upon management's assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. To the extent the Company prevails in matters for which a liability for an unrecognized tax benefit is established, or is required to pay amounts in excess of the liability, or when other facts and circumstances change, the Company's effective tax rate in a given financial statement period may be materially affected.

The United States government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, which includes various income tax provisions aimed at providing economic relief. One of those provisions allows any loss generated in fiscal 2021 to be carried back to each of the 5 taxable years preceding the taxable year of such a loss. The Company has elected to use this relief and carried back the fiscal 2021 tax loss to a tax year with a 35% federal rate. Additionally, the CARES Act permits Qualified Improvement Property to qualify for 15-year depreciation and therefore be also eligible for 100 percent first-year bonus depreciation. The Company has elected to take 100% bonus depreciation for all qualified improvement property.

11. Net Income Per Common Share

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards and stock options outstanding during the period. Approximately 11,000, 182,000 and 692,000 shares of common stock have been excluded from the diluted net income per share calculation for the years ended January 31, 2022, 2021 and 2020, respectively. All share-based payments outstanding that vest based on the achievement of performance conditions, and for which the respective performance conditions have not been achieved, have been excluded from the diluted per share calculation. The Company issued 0, 0 and 8,851 shares of common stock in connection with the exercise or vesting of equity awards during the years ended January 31, 2022, 2021 and 2020, respectively. In addition, the Company re-issued 194,965, 367,290 and 619,651 treasury shares in connection with the vesting of equity awards in fiscal 2022, 2021 and 2020, respectively.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2022		2021		2020

	(In thousands, except share and per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	200,593	$	23,545	$	143,837
Basic net income per share:
Basic common shares		48,426		48,242		48,209
Basic net income per share	$	4.14	$	0.49	$	2.98

Diluted net income per share:
Basic common shares		48,426		48,242		48,209
Dilutive restricted stock unit awards and stock options		1,090		539		686
Diluted common shares		49,516		48,781		48,895
Diluted net income per share	$	4.05	$	0.48	$	2.94

12. Equity Award Compensation

ASC Topic 718, Compensation — Stock Compensation, requires all share-based payments to employees, including grants of restricted stock unit awards and employee stock options, to be recognized as compensation expense over the service period (generally the vesting period) based on their grant date fair values.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vested. Restricted stock units (“RSU’s”) are time based awards that do not have market or performance conditions and generally (i) cliff vest after three years or (ii) vest over a three year period. Performance based restricted stock units (“PRSU’s”) granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSU’s generally vest over a two to five year period. Performance stock units (“PSU’s”) were granted to executives in fiscal 2022 and 2020 and vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance conditions must be satisfied for vesting to occur. The PSU’s granted in fiscal 2020 are also subject to a lock up period that prevents the sale, contract to sell or transfer of shares for two years subsequent to the date of vesting. RSU’s and employee stock options are expensed on a straight-line basis. PRSU’s are expensed under the accelerated attribution method. PSU’s are expensed under the accelerated attribution method and based on an estimated percentage of achievement of certain pre-established goals.

It is the Company’s policy to grant stock options at prices not less than the fair market value on the date of the grant. Option terms, vesting and exercise periods vary, except that the term of an option may not exceed ten years.

Also, excess tax benefits arising from the lapse or exercise of an equity award are recognized in income tax expense. The assumed proceeds from applying the treasury stock method when computing net income per share is amended to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital.

13. Cost of Goods Sold

Cost of goods sold includes the expenses incurred to acquire, produce and prepare inventory for sale, including product costs, warehouse staff wages, freight in, import costs, packaging materials, the cost of operating the overseas offices and royalty expense. Gross margins may not be directly comparable to those of the Company’s competitors, as income

statement classifications of certain expenses may vary by company. Additionally, costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

14. Shipping and Handling Costs

Shipping and handling costs consist of warehouse facility costs, third party warehousing, freight out costs, and warehouse supervisory wages and are included in selling, general and administrative expenses. Shipping and handling costs included in selling, general and administrative expenses were $130.2 million, $111.8 million and $138.8 million for the years ended January 31, 2022, 2021 and 2020, respectively.

15. Advertising Costs

The Company expenses advertising costs as incurred and includes these costs in selling, general and administrative expenses. Advertising paid as a percentage of sales under license agreements are expensed in the period in which the sales occur or are accrued to meet guaranteed minimum requirements under license agreements. Advertising expense was $93.1 million, $55.3 million and $94.7 million for the years ended January 31, 2022, 2021 and 2020, respectively. Prepaid advertising, which represents advance payments to licensors for minimum guaranteed payments for advertising under the Company’s licensing agreements, was $6.7 million and $8.0 million at January 31, 2022 and 2021, respectively.

16. Use of Estimates

In preparing financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In determining these estimates, management must use amounts that are based upon its informed judgments and best estimates. The Company continually evaluates its estimates, including those related to customer allowances and discounts, product returns, bad debts, inventories, equity awards, income taxes, carrying values of intangible assets and long-lived assets including right of use assets. Estimates are based on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions.

17. Fair Value of Financial Instruments

GAAP establishes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2022		2021		2022		2021

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	422,020	$	400,000
Revolving credit facility	2		—		—		—		—
Note issued to LVMH	3		114,255		107,869		110,123		101,810
Unsecured loans	2		8,367		9,119		8,367		9,119
Overdraft facilities	2		2,903		3,007		2,903		3,007

The Company’s debt instruments are recorded at their carrying values in its consolidated balance sheets, which may differ from their respective fair values. The fair value of the Company’s secured notes is based on their current market price as of January 31, 2022. The carrying amount of the Company’s variable rate debt approximates the fair value, as interest rates change with the market rates. Furthermore, the carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash, accounts receivable and accounts payable) also approximates fair value due to the short-term nature of these accounts.

The 2% note in the principal amount of $125 million (the “LVMH Note”) issued to LVMH Moet Hennessy Louis Vuitton Inc. (“LVMH”) in connection with the acquisition of DKNY and Donna Karan was recorded on the balance sheet at a discount of $40.0 million in accordance with ASC 820 — Fair Value Measurements. For purposes of this fair value disclosure, the Company based its fair value estimate for the LVMH Note on the initial fair value as determined at the date of the acquisition of DKNY and Donna Karan and records the amortization using the effective interest method over the term of the LVMH Note.

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

The Company’s non-financial assets that are measured at fair value on a nonrecurring basis include long-lived assets, which consist primarily of property and equipment and operating lease assets. The Company reviews these assets for impairment whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable. For assets that are not recoverable, an impairment loss is recognized equal to the difference between the carrying amount of the asset or asset group and its estimated fair value. For operating lease assets, the Company determines the fair value of the assets by discounting the estimated market rental rates over the remaining term of the lease. These fair value measurements are considered level 3 measurements in the fair value hierarchy. During fiscal 2022, the Company recorded a $1.5 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores. During fiscal 2021, the Company recorded a $20.1 million impairment charge primarily related to operating lease assets, leasehold improvements and furniture and fixtures at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance at these stores. During fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores. In addition, during fiscal 2020, the Company recorded an impairment of $9.6 million, net of tax, in connection with the adoption of ASC 842 – Leases (“ASC 842”) that was recognized through retained earnings.

18. Foreign Currency Translation

Certain of the Company’s international subsidiaries use different functional currencies, which are, for the most part, the local currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive loss within stockholders’ equity.

19. Effects of Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

There was no new accounting guidance adopted during the year ended January 31, 2022.

Accounting Guidance Issued Being Evaluated for Adoption

The Company has reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the consolidated financial statements.

COMMITMENTS AND CONTINGENCIES - Future Minimum Rental Payments for Operating Leases Having Non-Cancelable Lease Periods in Excess of One Year (Details) $ in Thousands	Jan. 31, 2022 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 55,830
2024	44,473
2025	37,382
2026	29,726
2027	23,606
Thereafter	40,440
Total lease payments	$ 231,457

SEGMENTS - Information of Total Assets for Company's Reportable Segments (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 2,742,528	$ 2,436,386
Corporate Segment
Segment Reporting Information [Line Items]
Total assets	557,177	506,079
Operating Segments \| Wholesale operations
Segment Reporting Information [Line Items]
Total assets	2,073,834	1,844,682
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Total assets	$ 111,517	$ 85,625

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 25
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 32
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 3
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Cash flows from operating activities
Net income attributable to G-III Apparel Group, Ltd.	$ 200,593	$ 23,545	$ 143,837
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	27,626	38,625	38,735
Loss on disposal of fixed assets	136	1,079	2,500
Non-cash operating lease costs	43,351	71,368	73,273
Loss (gain) on lease terminations	(55)	(2,541)	(2,415)
Asset impairments	1,510	20,414	21,787
Dividend received from unconsolidated affiliate	(1,352)	2,695	3,675
Equity (gain) loss in unconsolidated affiliates	(8,118)	(601)	(3,200)
Change in fair value of equity investment	(1,636)
Share-based compensation	17,424	6,137	17,559
Deferred financing charges and debt discount amortization	9,677	10,014	10,491
Extinguishment of deferred financing costs		6,503
Deferred income taxes	21,117	24,844	319
Non-cash gains recorded in conjunction with Fabco acquisition		(2,693)
Changes in operating assets and liabilities:
Accounts receivable, net	(112,814)	38,900	(28,003)
Inventories	(95,652)	143,525	24,465
Income taxes, net	9,742	(13,795)	(621)
Prepaid expenses and other current assets	8,373	24,514	15,929
Other assets, net	752	(663)	(731)
Customer refund liabilities	(12,567)	(136,436)	(10,172)
Operating lease liabilities	(46,922)	(86,448)	(79,843)
Accounts payable, accrued expenses and other liabilities	124,613	(94,228)	(18,564)
Net cash provided by operating activities	185,798	74,758	209,021
Cash flows from investing activities
Operating lease assets initial direct costs		(4,093)	(2,104)
Minority investment in e-commerce retailer	(25,000)
Sale of portion of investment in e-commerce retailer	5,000
Capital expenditures	(18,261)	(16,035)	(37,990)
Investment in brand acquisition	(13,244)
Net cash used in investing activities	(51,505)	(20,128)	(40,094)
Cash flows from financing activities
Repayment of borrowings - revolving facility		(1,291,424)	(2,388,766)
Proceeds from borrowings - revolving facility		1,291,424	2,388,766
Repayment of borrowings - unsecured term loan	(549)	(300,530)	(504)
Proceeds from borrowings - unsecured term loan	230	8,883	3,362
Proceeds from borrowings - senior secured notes		400,000
Payment of financing costs		(13,551)
Repayment of loan from acquired brand	(1,483)
Proceeds from exercise of equity awards		297	115
Purchase of treasury shares	(17,300)		(35,216)
Taxes paid for net share settlements	(4,340)	(324)	(12,239)
Net cash provided by (used in) financing activities	(23,442)	94,775	(44,482)
Foreign currency translation adjustments	3,199	5,157	2,789
Net increase in cash and cash equivalents	114,050	154,562	127,234
Cash and cash equivalents at beginning of period	351,934	197,372	70,138
Cash and cash equivalents at end of period	465,984	351,934	197,372
Cash payments:
Interest, net	54,393	16,418	34,311
Income tax payments, net	39,821	$ 1,971	$ 39,020
Stock received from licensing agreement	$ 4,831

SEGMENTS - Textuals (Details) $ in Millions	12 Months Ended
SEGMENTS - Textuals (Details) $ in Millions	Jan. 31, 2022 USD ($) segment	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)
Segments [Abstract]
Number of operating segments \| segment	2
Capital expenditures for outside of United States \| $	$ 4.3	$ 3.0	$ 4.6

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2022

Basis of Presentation [Abstract]

Schedule of reconciliation between basic and diluted net income per share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2022		2021		2020

	(In thousands, except share and per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	200,593	$	23,545	$	143,837
Basic net income per share:
Basic common shares		48,426		48,242		48,209
Basic net income per share	$	4.14	$	0.49	$	2.98

Diluted net income per share:
Basic common shares		48,426		48,242		48,209
Dilutive restricted stock unit awards and stock options		1,090		539		686
Diluted common shares		49,516		48,781		48,895
Diluted net income per share	$	4.05	$	0.48	$	2.94

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2022		2021		2022		2021

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	422,020	$	400,000
Revolving credit facility	2		—		—		—		—
Note issued to LVMH	3		114,255		107,869		110,123		101,810
Unsecured loans	2		8,367		9,119		8,367		9,119
Overdraft facilities	2		2,903		3,007		2,903		3,007

Leases - Future minimum payments under our operating lease (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023	$ 55,830
2024	44,473
2025	37,382
2026	29,726
2027	23,606
After 2027	40,440
Total lease payments	231,457
Less: Interest	45,826
Present value of lease liabilities	$ 185,631	$ 205,228

COMMITMENTS AND CONTINGENCIES - Textuals (Details) $ in Thousands, $ in Millions			1 Months Ended	12 Months Ended				35 Months Ended
	Mar. 14, 2018 USD ($)	Mar. 14, 2018 CAD ($)	Oct. 27, 2017	Jan. 31, 2022 USD ($)	Jan. 31, 2022 CAD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2020 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 CAD ($)
Commitment And Contingencies [Line Items]
Advertising expense				$ 93,100		$ 55,300	$ 94,700
Reassessment period to additional duties			90 days
Interest paid				800	$ 1.0
Deferred expenses				0				$ 11,600	$ 14.7
License Agreements
Commitment And Contingencies [Line Items]
Royalty expense				145,100		116,800	178,800
Advertising expense				$ 41,200		$ 29,500	$ 48,300
G-III Apparel Canada ULC
Commitment And Contingencies [Line Items]
Value of bond issued for prepayments of additional duties	$ 20,900	$ 26.9

EQUITY INVESTMENT - Textuals (Details) $ in Thousands, € in Millions		1 Months Ended			12 Months Ended
	Dec. 01, 2020	Feb. 29, 2016 USD ($)	Feb. 29, 2016 EUR (€)	Jun. 30, 2015 USD ($)	Jan. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Ownership percent				49.00%
Amount paid to acquired interest in joint venture		$ 35,400	€ 32.5	$ 25,000
Equity issued in joint venture					$ 25,000
Kingdom Holding 1 BV ("KH1")
Schedule of Equity Method Investments [Line Items]
Ownership percent		19.00%	19.00%
Fabco Holding B.V. [Member]
Schedule of Equity Method Investments [Line Items]
Subsidiary ownership percentage	75.00%

Leases (Tables)

12 Months Ended

Jan. 31, 2022

Leases [Abstract]

Schedule of lease assets and liabilities


Leases	Classification	January 31, 2022		January 31, 2021

		(In thousands)
Assets
Operating	Operating lease assets	$	169,595	$	186,070
Total lease assets		$	169,595	$	186,070

Liabilities
Current operating	Current operating lease liabilities	$	42,763	$	43,560
Noncurrent operating	Noncurrent operating lease liabilities		142,868		161,668
Total lease liabilities		$	185,631	$	205,228

Schedule of maturity of operating lease liabilities


Year Ending January 31,	Amount
	(In thousands)
2023	$	55,830
2024		44,473
2025		37,382
2026		29,726
2027		23,606
After 2027		40,440
Total lease payments	$	231,457
Less: Interest		45,826
Present value of lease liabilities	$	185,631

Revenue Recognition - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract liability	$ 5,100	$ 5,900
Customer refund liabilities	(86,788)	(99,355)
Revenue recognized related to contract liabilities	4,900
Contract assets	0	0
Impact of Adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Customer refund liabilities	$ (86,800)	$ (99,400)

INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 70,875	$ 12,203	$ 38,261
Deferred tax liabilities related to intangible assets	9,576	$ 14,271
Undistributed earnings of foreign subsidiaries	$ 131,000
Percentage change in effective tax rate from prior year	8.00%	13.20%
Corporate income tax rate	21.00%	21.00%	21.00%
Valuation allowance of deferred tax assets	$ 1,200
Decrease in unrecognized tax position reserve for current year accrual of interest and penalties	$ 200
Percentage of bonus depreciation from CARES Act elected	100.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SEGMENTS - Information Regarding Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,766,538	$ 2,055,146	$ 3,160,464
Cost of goods sold	1,778,349	1,310,704	2,042,524
Gross profit	988,189	744,442	1,117,940
Selling, general and administrative expenses	648,015	605,102	832,180
Depreciation and amortization	27,626	38,625	38,735
Asset impairments	1,455	17,873	19,371
Operating profit (loss)	311,093	82,842	227,654
Wholesale operations
Segment Reporting Information [Line Items]
Net sales	2,710,787	1,916,763	2,862,889
Retail
Segment Reporting Information [Line Items]
Net sales	117,656	170,421	385,910
Operating Segments \| Wholesale operations
Segment Reporting Information [Line Items]
Net sales	2,710,787	1,916,763	2,862,889
Cost of goods sold	1,782,533	1,229,548	1,925,062
Gross profit	928,254	687,215	937,827
Selling, general and administrative expenses	567,949	444,549	604,377
Depreciation and amortization	24,023	31,998	30,806
Asset impairments	368	1,010	412
Operating profit (loss)	335,914	209,658	302,232
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Net sales	117,656	170,421	385,910
Cost of goods sold	57,721	113,194	205,797
Gross profit	59,935	57,227	180,113
Selling, general and administrative expenses	80,066	160,553	227,803
Depreciation and amortization	3,603	6,627	7,929
Asset impairments	1,087	16,863	18,959
Operating profit (loss)	(24,821)	(126,816)	(74,578)
Elimination
Segment Reporting Information [Line Items]
Net sales	(61,905)	(32,038)	(88,335)
Cost of goods sold	$ (61,905)	$ (32,038)	$ (88,335)

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Jan. 31, 2022

Valuation And Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNT

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

Years ended January 31, 2022, 2021 and 2020


	Balance at		Charges to				Balance at
	Beginning		Cost and				End of
Description	of Period		Expenses		Deductions ⁽¹⁾		Period

	(In thousands)
Year ended January 31, 2022
Deducted from asset accounts
Allowance for doubtful accounts	$	17,459	$	157	$	225	$	17,391
Reserve for returns		40,704		19,475		29,358		30,821
Reserve for sales allowances ⁽²⁾		58,651		117,605		120,289		55,967
	$	116,814	$	137,237	$	149,872	$	104,179
Year ended January 31, 2021
Deducted from asset accounts
Allowance for doubtful accounts	$	710	$	16,882	$	133	$	17,459
Reserve for returns		46,489		41,348		47,133		40,704
Reserve for sales allowances ⁽²⁾		186,929		101,337		229,615		58,651
	$	234,128	$	159,567	$	276,881	$	116,814
Year ended January 31, 2020
Allowance for doubtful accounts	$	924	$	(72)	$	142	$	710
Reserve for returns		62,278		56,440		72,229		46,489
Reserve for sales allowances ⁽²⁾		181,312		422,628		417,011		186,929
	$	244,514	$	478,996	$	489,382	$	234,128

⁽¹⁾

Accounts written off as uncollectible, net of recoveries.

⁽²⁾

See Note 1 in the accompanying Notes to Consolidated Financial Statements for a description of sales allowances.

SIGNIFICANT ACCOUNTING POLICIES - Carrying Values and the Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021	Aug. 07, 2020
Secured notes
Debt Instrument [Line Items]
Principal amount of debt			$ 400,000
LVMH Note
Debt Instrument [Line Items]
Debt instrument interest rate	2.00%
Principal amount of debt	$ 125,000
Debt discount	40,000
Level 2 \| Unsecured Loan
Debt Instrument [Line Items]
Debt instruments, carrying value	8,367	$ 9,119
Debt instruments, fair value	8,367	9,119
Level 2 \| Overdraft facilities
Debt Instrument [Line Items]
Debt instruments, carrying value	2,903	3,007
Debt instruments, fair value	2,903	3,007
Level 3 \| LVMH Note
Debt Instrument [Line Items]
Debt instruments, carrying value	114,255	107,869
Debt instruments, fair value	110,123	101,810
Level 1 [Member] \| Secured notes
Debt Instrument [Line Items]
Debt instruments, carrying value	400,000	400,000
Debt instruments, fair value	$ 422,020	$ 400,000

SEGMENTS (Tables)

12 Months Ended

Jan. 31, 2022

Segments [Abstract]

Schedule of information regarding reportable segments

The following segment information, in thousands, is presented for the fiscal years ended:


	January 31, 2022
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,710,787	$	117,656	$	(61,905)	$	2,766,538
Cost of goods sold		1,782,533		57,721		(61,905)		1,778,349
Gross profit		928,254		59,935		—		988,189
Selling, general and administrative expenses		567,949		80,066		—		648,015
Depreciation and amortization		24,023		3,603		—		27,626
Asset impairments, net of gain on lease terminations		368		1,087		—		1,455
Operating profit (loss)	$	335,914	$	(24,821)	$	—	$	311,093


	January 31, 2021
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	1,916,763	$	170,421	$	(32,038)	$	2,055,146
Cost of goods sold		1,229,548		113,194		(32,038)		1,310,704
Gross profit		687,215		57,227		—		744,442
Selling, general and administrative expenses		444,549		160,553		—		605,102
Depreciation and amortization		31,998		6,627		—		38,625
Asset impairments		1,010		16,863		—		17,873
Operating profit (loss)	$	209,658	$	(126,816)	$	—	$	82,842


	January 31, 2020
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,862,889	$	385,910	$	(88,335)	$	3,160,464
Cost of goods sold		1,925,062		205,797		(88,335)		2,042,524
Gross profit		937,827		180,113		—		1,117,940
Selling, general and administrative expenses		604,377		227,803		—		832,180
Depreciation and amortization		30,806		7,929		—		38,735
Asset impairments		412		18,959		—		19,371
Operating profit (loss)	$	302,232	$	(74,578)	$	—	$	227,654

(1)	Represents intersegment sales to the Company’s retail operations segment.

Schedule of total net sales by licensed and proprietary product sales

The total net sales by licensed and proprietary product sales for each of the Company’s reportable segments are as follows:


	January 31,
	2022		2021		2020

	(In thousands)
Licensed brands	$	1,820,491	$	1,390,112	$	2,045,480
Proprietary brands		890,296		526,651		817,409
Wholesale net sales	$	2,710,787	$	1,916,763	$	2,862,889

Licensed brands	$	39,604	$	17,488	$	27,338
Proprietary brands		78,052		152,933		358,572
Retail net sales	$	117,656	$	170,421	$	385,910

Schedule of total assets for each reportable segments


	January 31,		January 31,
	2022		2021

	(In thousands)
Wholesale	$	2,073,834	$	1,844,682
Retail		111,517		85,625
Corporate		557,177		506,079
Total Assets	$	2,742,528	$	2,436,386

Schedule of total net sales and long-lived assets by geographic region


	2022				2021				2020
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	2,365,919	$	938,947	$	1,755,791	$	834,181	$	2,774,492	$	964,476
Non-United States		400,619		150,724		299,355		258,165		385,972		231,973
	$	2,766,538	$	1,089,671	$	2,055,146	$	1,092,346	$	3,160,464	$	1,196,449

SEGMENTS - Method of Overhead Allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 2,766,538	$ 2,055,146	$ 3,160,464
Long-Lived Assets	1,089,671	1,092,346	1,196,449
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	2,365,919	1,755,791	2,774,492
Long-Lived Assets	938,947	834,181	964,476
Non-United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	400,619	299,355	385,972
Long-Lived Assets	$ 150,724	$ 258,165	$ 231,973

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Inventories

12 Months Ended

Jan. 31, 2022

Inventories [Abstract]

Inventories

NOTE 4 — INVENTORIES

Wholesale inventories, which comprise a significant portion of the Company’s inventory, are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. Prior to February 1, 2021, retail inventories were valued at the lower of cost or market as determined by the retail inventory method. Effective February 1, 2021, the Company elected to change its method of accounting for retail inventories to the lower of cost (determined by the weighted average method) or net realizable value. See Note 1 – Significant Accounting Policies for more details on the preferability and application of this change in accounting principle. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value. Substantially all of the Company’s inventories consist of finished goods.

The inventory return asset, which consists of the amount of goods that are anticipated to be returned by customers, was $18.9 million and $22.5 million at January 31, 2022 and 2021, respectively. The inventory return asset is recorded within prepaid expenses and other current assets on the consolidated balance sheets as of January 31, 2022 and 2021.

Inventory held on consignment by the Company’s customers totaled $4.5 million and $3.5 million at January 31, 2022 and 2021, respectively. Consignment inventory is stored at the facilities of the Company’s customers. The Company reflects this inventory on its consolidated balance sheets.

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Lessee, Operating Lease, Description [Abstract]
Transition package	true
Option to extend	true
Lessee, operating lease, option to terminate	The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.
Variable and short term cost	$ 10,500	$ 6,700	$ 16,800
Impairment charge related to the operating lease assets	$ 200	$ 19,400
Minimum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	1 year
Renewal term	1 year
Maximum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	10 years
Renewal term	10 years

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Common Stock Held in Treasury	Cumulative Effect, Period of Adoption, Adjustment	Total
Balance at beginning of period (ASC 606) at Jan. 31, 2019				$ (9,580)			$ (9,580)
Balance at beginning of period at Jan. 31, 2019	$ 264	$ 464,112	$ (15,194)		$ 758,881	$ (19,054)		$ 1,189,009
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(17,290)				17,406		116
Share-based compensation expense		17,559						17,559
Taxes paid for net share settlements		(12,239)						(12,239)
Other comprehensive income (loss), net			(2,814)					(2,814)
Repurchases of common stock						(35,216)		(35,216)
Net income (loss)					143,837			143,837
Balance at end of period at Jan. 31, 2020	264	452,142	(18,008)		893,138	(36,864)		1,290,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(9,538)				9,835		297
Share-based compensation expense		6,137						6,137
Taxes paid for net share settlements		(324)						(324)
Other comprehensive income (loss), net			15,914					15,914
Net income (loss)					23,545			23,545
Balance at end of period at Jan. 31, 2021	264	448,417	(2,094)	$ (271)	916,683	(27,029)	$ (271)	1,336,241
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(5,172)				5,172
Share-based compensation expense		17,424						17,424
Taxes paid for net share settlements		(4,340)						(4,340)
Other comprehensive income (loss), net			(12,435)					(12,435)
Repurchases of common stock						(17,300)		(17,300)
Net income (loss)					200,593			200,593
Balance at end of period at Jan. 31, 2022	$ 264	$ 456,329	$ (14,529)		$ 1,117,005	$ (39,157)		$ 1,519,912

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 31, 2022

Stockholders' Equity Note [Abstract]

Schedule of restricted stock

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2019	281,825	$	34.56	1,539,794	$	30.15
Granted	142,594	$	37.74	332,651	$	35.77
Vested	(168,781)	$	32.32	(810,655)	$	24.58
Cancelled	(12,695)	$	35.09	(3,080)	$	42.41
Unvested as of January 31, 2020	242,943	$	37.95	1,058,710	$	36.15
Granted	1,280,664	$	10.25	—	$	—
Vested	(107,917)	$	37.96	(279,053)	$	32.43
Cancelled	(22,422)	$	39.41	(312,827)	$	42.41
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17
Granted	326,791	$	31.52	176,212	$	31.43
Vested	(201,260)	$	20.43	(125,934)	$	30.23
Cancelled	(2,650)	$	33.46	—	$	—
Unvested as of January 31, 2022	1,516,149	$	15.48	517,108	$	34.20

Schedule of information regarding stock options

Stock Options


	2022			2021			2020
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	18,245	$	23.63	39,311	$	18.51	55,311	$	15.70
Exercised	—	$	—	(21,066)	$	14.07	(13,200)	$	8.71
Granted	—	$	—	—	$	—	—	$	—
Cancelled or forfeited	(8,245)	$	30.32	—	$	—	(2,800)	$	9.20
Stock options outstanding at end of year	10,000	$	18.11	18,245	$	23.63	39,311	$	18.51
Exercisable	10,000	$	18.11	18,245	$	23.63	35,188	$	17.12

Schedule of information about stock options outstanding

Number

Weighted

Number

Weighted

Outstanding as of

Average

Exercisable as of

Average

January 31,

Remaining

Exercise

January 31,

Exercise

Range of Exercise Prices

2022

Contractual Life

Price

2022

Price

$18.11

10,000

0.97

18.11

10,000

18.11

10,000

INTANGIBLE ASSETS - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Business Acquisition [Line Items]
Intangible assets amortization expense	$ 3,700	$ 4,300	$ 4,500
Goodwill	262,527	263,135	260,622
Reduction in goodwill related to unrecorded indemnification obligations from LVMH	1,518
Retail
Business Acquisition [Line Items]
Goodwill
Reduction in goodwill related to unrecorded indemnification obligations from LVMH

Allowance for Doubtful Accounts (Tables)

12 Months Ended

Jan. 31, 2022

Allowance for Doubtful Accounts [Abstract]

Accounts Receivable and Allowance for Doubtful Accounts

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2022 and 2021 were:


	January 31, 2022
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	620,737	$	2,166	$	622,903
Allowance for doubtful accounts		(17,307)		(84)		(17,391)
Accounts receivable, net	$	603,430	$	2,082	$	605,512


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	509,010	$	1,147	$	510,157
Allowance for doubtful accounts		(17,429)		(30)		(17,459)
Accounts receivable, net	$	491,581	$	1,117	$	492,698

Activity in Allowance for Credit Losses

During the year ended January 31, 2021, the Company recorded a $16.7 million increase in its allowance for doubtful accounts primarily due to allowances recorded against the outstanding receivables of certain department store customers that have publicly announced bankruptcy filings or possible bankruptcy filings. The Company had the following activity in its allowance for credit losses:


	January 31, 2022
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)
Provision for credit losses		(103)		(54)		(157)
Accounts written off as uncollectible		225		—		225
Balance as of January 31, 2022	$	(17,307)	$	(84)	$	(17,391)


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2020	$	(628)	$	(82)	$	(710)
Provision for credit losses		(16,934)		52		(16,882)
Accounts written off as uncollectible		133		—		133
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)

RELATED PARTY TRANSACTIONS

12 Months Ended

Jan. 31, 2022

RELATED PARTY TRANSACTIONS

NOTE 17 — RELATED PARTY TRANSACTIONS

Transactions with Fabco

Prior to December 1, 2020, G-III owned a 49% ownership interest in Fabco and was considered a related party of Fabco. The Company sells inventory to Fabco and granted Fabco’s subsidiary the right to use certain Donna Karan and DKNY trademarks. In fiscal 2021 and 2020, the Company sold $2.7 million and $4.4 million in inventory to Fabco, respectively. The Company recorded $0.9 million of licensing revenue from Fabco during the period of fiscal 2021 prior to Fabco becoming a consolidated majority-owned subsidiary of the Company. The Company recorded $3.1 million of licensing revenue from Fabco during the year ended January 31, 2020.

Transactions with KL North America

G-III owns a 49% ownership interest in KLNA and is considered a related party of KLNA (see Note 16). The Company entered into a licensing agreement to use the brand rights to certain Karl Lagerfeld trademarks held by KLNA. The Company incurred royalty and advertising expense of $8.1 million, $3.5 million and $6.8 million for the years ended January 31, 2022, 2021 and 2020, respectively.

Inventories - Textuals (Details) - USD ($) $ in Millions	Jan. 31, 2022	Jan. 31, 2021
Inventory [Line Items]
Inventory held on consignment	$ 4.5	$ 3.5
Prepaid Expenses and Other Current Assets
Inventory [Line Items]
Inventory return asset	$ 18.9	$ 22.5

SIGNIFICANT ACCOUNTING POLICIES - Textuals (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 01, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Jun. 30, 2015
Accounting Policies [Line Items]
Ownership percent						49.00%
Cumulative effect of adoption of ASC		$ 1,519,912	$ 1,336,241	$ 1,290,672	$ 1,189,009
Inventories		512,155	416,503
Cash and cash equivalents		$ 465,984	$ 351,934
Corporate income tax rate		21.00%	21.00%	21.00%
Lock up period after vesting		2 years
Anti-dilutive shares excluded from diluted net income per share calculation		11,000	182,000	692,000
Common stock issued in connection with exercise or vesting of equity awards		0	0	8,851
Treasury shares re-issued in connection with the exercise or vesting of equity awards		194,965	367,290	619,651
Selling, general and administrative expenses		$ 648,015	$ 605,102	$ 832,180
Advertising expense		93,100	55,300	94,700
Prepaid advertising		$ 6,700	8,000
Cumulative Effect, Period of Adoption, Adjustment
Accounting Policies [Line Items]
Cumulative effect of adoption of ASC			(300)	(9,600)
Inventories			(300)
Fabco Holding B.V. [Member]
Accounting Policies [Line Items]
Subsidiary ownership percentage	75.00%
Karl Lagerfeld Holding B.V. ("KLH")
Accounting Policies [Line Items]
Percentage of ownership interest		19.00%
KLNA
Accounting Policies [Line Items]
Ownership percent		49.00%
Wholesale shipping and handling costs
Accounting Policies [Line Items]
Selling, general and administrative expenses		$ 130,200	111,800	138,800
Restricted Stock Units (RSUs)
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Restricted Stock Units (RSUs) \| Long-Term Incentive Stock Plan
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Lock up period after vesting		2 years
Minimum
Accounting Policies [Line Items]
Intangible assets, estimated useful lives		5 years
Minimum \| Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		2 years
Maximum
Accounting Policies [Line Items]
Intangible assets, estimated useful lives		17 years
Maximum \| Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		5 years
Maximum \| Stock Options
Accounting Policies [Line Items]
Vesting and exercise period of awards		10 years
Wilsons Leather, G.H. Bass, DKNY and Vilebrequin Stores [Member]
Accounting Policies [Line Items]
Impairment charge on leasehold improvements		$ 1,500
Wilsons Leather, G.H. Bass, DKNY and Vilebrequin Stores [Member] \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements			$ 20,100
Wilsons, G.H. Bass and DKNY Stores [Member]
Accounting Policies [Line Items]
Impairment charge on leasehold improvements				21,800
Wilsons, G.H. Bass and DKNY Stores [Member] \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements				$ 21,800
DKNY, Karl Lagerfeld Paris and Vilebrequin Stores [Member] \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements		$ 1,500

EMPLOYEE BENEFIT PLANS

12 Months Ended

Jan. 31, 2022

Compensation And Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 13 — EMPLOYEE BENEFIT PLANS

The Company maintains a 401(k) plan (the “GIII Plan”) and trust for non-union employees. The Plan provides for a Safe Harbor (non-discretionary) matching contribution of 100% of the first 3% of the participant’s contributed pay plus 50% of the next 2% of the participant’s contributed pay. The Company made matching contributions of $0.3 million, $1.5 million and $4.7 million for the years ended January 31, 2022, 2021 and 2020, respectively. Effective May 2020, the Company temporarily suspended 401(k) matching contributions due to the COVID-19 pandemic. The Company reinstated 401(k) matching contributions effective January 1, 2022.

- Definition

The entire disclosure for retirement benefits.

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+ Details

NOTES PAYABLE AND OTHER LIABILITIES - Future Debt Maturities (Detail) $ in Thousands	Jan. 31, 2022 USD ($)
Notes Payable and Other Liabilities [Abstract]
2023	$ 4,237
2024	126,790
2025	2,261
2026	401,764
2027 and thereafter	$ 1,218

Allowance for Doubtful Accounts

12 Months Ended

Jan. 31, 2022

Allowance for Doubtful Accounts [Abstract]

Allowance for Doubtful Accounts

NOTE 3 — ALLOWANCE FOR DOUBTFUL ACCOUNTS

On February 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which had no material impact on the Company’s financial statements. The Company’s financial instruments consist of trade receivables arising from revenue transactions in the ordinary course of business. The Company considers its trade receivables to consist of two portfolio segments: wholesale and retail trade receivables. Wholesale trade receivables result from credit the Company has extended to its wholesale customers based on pre-defined criteria and are generally due within 30 to 60 days. Retail trade receivables primarily relate to amounts due from third-party credit card processors for the settlement of debit and credit card transactions and are typically collected within 3 to 5 days.

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2022 and 2021 were:


	January 31, 2022
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	620,737	$	2,166	$	622,903
Allowance for doubtful accounts		(17,307)		(84)		(17,391)
Accounts receivable, net	$	603,430	$	2,082	$	605,512


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	509,010	$	1,147	$	510,157
Allowance for doubtful accounts		(17,429)		(30)		(17,459)
Accounts receivable, net	$	491,581	$	1,117	$	492,698

The allowance for doubtful accounts for wholesale trade receivables is estimated based on several factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations (such as in the case of bankruptcy filings (including potential bankruptcy filings), extensive delay in payment or substantial downgrading by credit rating agencies), a specific reserve for bad debts is recorded against amounts due from that customer to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the end of the reporting period for financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions. The Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.

The allowance for doubtful accounts for retail trade receivables is estimated at the credit card chargeback rate applied to the previous 90 days of credit card sales. In addition, the Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.


	January 31, 2022
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)
Provision for credit losses		(103)		(54)		(157)
Accounts written off as uncollectible		225		—		225
Balance as of January 31, 2022	$	(17,307)	$	(84)	$	(17,391)


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2020	$	(628)	$	(82)	$	(710)
Provision for credit losses		(16,934)		52		(16,882)
Accounts written off as uncollectible		133		—		133
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jan. 31, 2022

Basis of Presentation [Abstract]

Business Activity and Principles of Consolidation

1. Business Activity and Principles of Consolidation

Cash Equivalents

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

Revenue Recognition

3. Revenue Recognition

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

Accounts Receivable

4. Accounts Receivable

Inventories

5. Inventories

Wholesale inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value, which comprises a significant portion of the Company’s inventory.

Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

Goodwill and Other Intangibles

6. Goodwill and Other Intangibles

Leases

7. Leases

Depreciation and amortization

8. Depreciation and Amortization

Impairment of Long-Lived Assets

9. Impairment of Long-Lived Assets

Income Taxes

10. Income Taxes

Net Income Per Common Share

11. Net Income Per Common Share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2022		2021		2020

	(In thousands, except share and per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	200,593	$	23,545	$	143,837
Basic net income per share:
Basic common shares		48,426		48,242		48,209
Basic net income per share	$	4.14	$	0.49	$	2.98

Diluted net income per share:
Basic common shares		48,426		48,242		48,209
Dilutive restricted stock unit awards and stock options		1,090		539		686
Diluted common shares		49,516		48,781		48,895
Diluted net income per share	$	4.05	$	0.48	$	2.94

Equity Award Compensation

12. Equity Award Compensation

Cost of Goods Sold

13. Cost of Goods Sold

Shipping and Handling Costs

14. Shipping and Handling Costs

Advertising Costs

15. Advertising Costs

Use of Estimates

16. Use of Estimates

Fair Value of Financial Instruments

17. Fair Value of Financial Instruments

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2022		2021		2022		2021

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	422,020	$	400,000
Revolving credit facility	2		—		—		—		—
Note issued to LVMH	3		114,255		107,869		110,123		101,810
Unsecured loans	2		8,367		9,119		8,367		9,119
Overdraft facilities	2		2,903		3,007		2,903		3,007

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

Foreign Currency Translation

18. Foreign Currency Translation

INTANGIBLE ASSETS - Estimated amortization expense (Details) $ in Thousands	Jan. 31, 2022 USD ($)
Intangible Assets [Abstract]
2023	$ 3,318
2024	3,097
2025	3,027
2026	2,965
2027	$ 2,706

NOTES PAYABLE AND OTHER LIABILITIES (Tables)

12 Months Ended

Jan. 31, 2022

Notes Payable and Other Liabilities [Abstract]

Schedule of long-term debt


	January 31, 2022		January 31, 2021

	(in thousands)
Secured Notes	$	400,000	$	400,000
Revolving credit facility		—		—
Note issued to LVMH		125,000		125,000
Unsecured loans		8,367		9,119
Overdraft facilities		2,903		3,007
Subtotal		536,270		537,126
Less: Net debt issuance costs ⁽¹⁾		(5,944)		(7,643)
Debt discount		(10,745)		(17,131)
Current portion of long-term debt		(4,237)		(4,402)
Total	$	515,344	$	507,950

(1)

Does not include the debt issuance costs, net of amortization, totaling $5.6 million and $7.2 million as of January 31, 2022 and 2021, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in assets in the accompanying Consolidated Balance Sheets in accordance with ASC 835.

Schedule of future debt repayments


Year Ending January 31,	Amount
	(In thousands)
2023	$	4,237
2024		126,790
2025		2,261
2026		401,764
2027 and thereafter		1,218

Schedule of accrued expenses


	January 31, 2022		January 31, 2021

	(in thousands)
Accrued bonuses	$	50,119	$	23,851
Other accrued expenses		78,005		78,936
Total	$	128,124	$	102,787

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Leases - Lease cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease cost (Details) - USD ($) $ in Millions	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Lease, Cost [Abstract]
Lease costs			$ 98.4
Selling, general and administrative expenses
Lease, Cost [Abstract]
Lease costs	$ 55.7	$ 92.4

NOTES PAYABLE AND OTHER LIABILITIES

12 Months Ended

Jan. 31, 2022

Notes Payable and Other Liabilities [Abstract]

NOTES PAYABLE AND OTHER LIABILITIES

NOTE 8 — NOTES PAYABLE AND OTHER LIABILITIES

Long-term debt

Long-term debt consists of the following:


	January 31, 2022		January 31, 2021

	(in thousands)
Secured Notes	$	400,000	$	400,000
Revolving credit facility		—		—
Note issued to LVMH		125,000		125,000
Unsecured loans		8,367		9,119
Overdraft facilities		2,903		3,007
Subtotal		536,270		537,126
Less: Net debt issuance costs ⁽¹⁾		(5,944)		(7,643)
Debt discount		(10,745)		(17,131)
Current portion of long-term debt		(4,237)		(4,402)
Total	$	515,344	$	507,950

(1)

Senior Secured Notes

In August 2020, the Company completed a private debt offering of $400 million aggregate principal amount of its 7.875% Senior Secured Notes due 2025 (the “Notes”). The terms of the Notes are governed by an indenture (the “Indenture”), among the Company, the guarantors party thereto and U.S. Bank, National Association, as trustee and collateral agent (the “Collateral Agent”). The net proceeds of the Notes have been used (i) to repay the $300 million that was outstanding under the Company’s prior term loan facility due 2022 (the “Term Loan”), (ii) to pay related fees and expenses and (iii) for general corporate purposes.

The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021.

The Notes are unconditionally guaranteed on a senior-priority secured basis by the Company’s current and future wholly-owned domestic subsidiaries that guarantee any of the Company’s credit facilities, including the Company’s ABL facility (the “ABL Facility”) pursuant to the ABL Credit Agreement, or certain future capital markets indebtedness of the Company or guarantors.

The Notes and the related guarantees are secured by (i) first priority liens on the Company’s Cash Flow Priority Collateral (as defined in the Indenture), and (ii) a second-priority lien on the Company’s ABL Priority Collateral (as defined in the Indenture), in each case subject to permitted liens described in the Indenture.

In connection with the issuance of the Notes and execution of the Indenture, the Company and the Guarantors entered into a pledge and security agreement (the “Pledge and Security Agreement”), among the Company, the Guarantors and the Collateral Agent.

The Notes are subject to the terms of the intercreditor agreement which governs the relative rights of the secured parties in respect of the ABL Facility and the Notes (the “Intercreditor Agreement”). The Intercreditor Agreement restricts the actions permitted to be taken by the Collateral Agent with respect to the Collateral on behalf of the holders of the Notes.

The Notes are also subject to the terms of the LVMH Note subordination agreement which governs the relative rights of the secured parties in respect of the LVMH Note, the ABL Facility and the Notes.

At any time prior to August 15, 2022, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date plus a “make-whole” premium, as described in the Indenture. On or after August 15, 2022, the Company may redeem some or all of the Notes at any time and from time to time at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2022, the Company may redeem up to 40% of the aggregate principal amount of the Notes with the proceeds of certain equity offerings at the redemption price set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2022, during any twelve month period, the Company may redeem up to 10% of the aggregate principal amount of the Notes at a redemption price equal to 103% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date.

If the Company experiences a Change of Control (as defined in the Indenture), the Company is required to offer to repurchase the Notes at 101% of the principal amount of such Notes plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.

The Indenture contains covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur or guarantee additional indebtedness, pay dividends or make other restricted payments, make certain investments, incur restrictions on the ability of the Company’s restricted subsidiaries that are not guarantors to pay dividends or make certain other payments, create or incur certain liens, sell assets and subsidiary stock, impair the security interests, transfer all or substantially all of the Company’s assets or enter into merger or consolidation transactions, and enter into transactions with affiliates. The Indenture provides for customary events of default which include (subject in certain cases to customary grace and cure periods), among others, nonpayment of principal or interest, breach of other agreements in the Indenture, failure to pay certain other indebtedness, failure of certain guarantees to be enforceable, failure to perfect certain collateral securing the Notes failure to pay certain final judgments, and certain events of bankruptcy or insolvency.

The Company incurred debt issuance costs totaling $8.5 million related to the Notes that will be amortized over the term of the Notes. In accordance with ASC 835, the debt issuance costs have been deferred and are presented as a contra-liability, offsetting the outstanding balance of the Notes, and are amortized over the remaining life of the Notes. In addition, the Company had unamortized debt issuance costs of $6.1 million associated with the Term Loan. Upon repayment of the Term Loan, these debt issuance costs were fully extinguished and charged to interest expense in the Company’s results of operations.

Second Amended and Restated ABL Credit Agreement

In August 2020, the Company’s subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, AM Retail Group, Inc. and The Donna Karan Company Store LLC (collectively, the “Borrowers”), entered into the second amended and restated credit agreement (the “ABL Credit Agreement”) with the Lenders named therein and with JPMorgan Chase Bank, N.A., as Administrative Agent. The ABL Credit Agreement is a five year senior secured credit facility subject to a springing maturity date if, subject to certain conditions, the LVMH Note is not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder. The ABL Credit Agreement provides for borrowings in the aggregate principal amount of up to $650 million. The Company and its subsidiaries, G-III Apparel Canada ULC, Gabrielle Studio, Inc., Donna Karan International Inc. and Donna Karan Studio LLC (the “Guarantors”), are Loan Guarantors under the ABL Credit Agreement.

The ABL Credit Agreement refinanced, amended and restated the Amended Credit Agreement, dated as of December 1, 2016 (as amended, supplemented or otherwise modified from time to time prior to August 7, 2020, the “Prior Credit Agreement”), by and among the Borrowers and the Loan Guarantors (each as defined therein) party thereto, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., in its capacity as the administrative agent thereunder. The Prior Credit Agreement provided for borrowings of up to $650 million and was due to expire in December 2021. The ABL Credit Agreement extended the maturity date to August 2025, subject to a springing maturity date if, subject to certain conditions, the LVMH Note is not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder.

Amounts available under the ABL Credit Agreement are subject to borrowing base formulas and overadvances as specified in the ABL Credit Agreement. Borrowings bear interest, at the Borrowers’ option, at LIBOR plus a margin of 1.75% to 2.25% or an alternate base rate margin of 0.75% to 1.25% (defined as the greatest of (i) the “prime rate” of JPMorgan Chase Bank, N.A. from time to time, (ii) the federal funds rate plus 0.5% and (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 1.00%, with the applicable margin determined based on Borrowers’ availability under the ABL Credit Agreement. The ABL Credit Agreement is secured by specified assets of the Borrowers and the Guarantors. In addition to paying interest on any outstanding borrowings under the ABL Credit Agreement, the Company is required to pay a commitment fee to the lenders under the credit agreement with respect to the unutilized commitments. The commitment fee accrues at a tiered rate equal to 0.50% per annum on the average daily amount of the available commitments when the average usage is less than 50% of the total available commitments and decreases to 0.35% per annum on the average daily amount of the available commitments when the average usage is greater than or equal to 50% of the total available commitments.

The revolving credit facility contains covenants that, among other things, restrict the Company’s ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. In certain circumstances, the revolving credit facility also requires the Company to maintain a fixed charge coverage ratio, as defined in the agreement, not less than 1.00 to 1.00 for each period of twelve consecutive fiscal months of the Company. As of January 31, 2022, the Company was in compliance with these covenants.

As of January 31, 2022, the Company had no borrowings outstanding under the ABL Credit Agreement. The ABL credit agreement also includes amounts available for letters of credit. As of January 31, 2022, there were outstanding trade and standby letters of credit amounting to $10.0 million and $4.0 million, respectively.

At the date of the refinancing of the Prior Credit Agreement, the Company had $3.3 million of unamortized debt issuance costs remaining from the Prior Credit Agreement. The Company extinguished and charged to interest expense $0.4 million of the prior debt issuance costs and incurred new debt issuance costs totaling $5.1 million related to the ABL Credit Agreement. The Company has a total of $8.0 million debt issuance costs related to its ABL Credit Agreement. As permitted under ASC 835, the debt issuance costs have been deferred and are presented as an asset which is amortized ratably over the term of the ABL Credit Agreement.

LVMH Note

As a portion of the consideration for the acquisition of DKNY and Donna Karan, the Company issued to LVMH a junior lien secured promissory note in the principal amount of $125.0 million that bears interest at the rate of 2% per year. $75.0 million of the principal amount of the LVMH Note is due and payable on June 1, 2023 and $50.0 million of such principal amount is due and payable on December 1, 2023.

In connection with the issuance of the LVMH Note, LVMH entered into (i) a subordination agreement providing that the Company’s obligations under the LVMH Note are subordinate and junior to the Company’s obligations under the revolving credit facility and the Term Loan, and (ii) a pledge and security agreement with the Company and its subsidiary,

G-III Leather Fashions, Inc., pursuant to which the Company and G-III Leather Fashions, Inc. granted to LVMH a security interest in specified collateral to secure the Company’s payment and performance of the Company’s obligations under the LVMH Note that are subordinate and junior to the security interest granted by the Company with respect to the Company’s obligations under the revolving credit facility agreement and Term Loan.

ASC 820 requires the note to be recorded at fair value at issuance. As a result, the Company recorded a $40.0 million debt discount. This discount is being amortized as interest expense using the effective interest method over the term of the LVMH Note.

Unsecured Loans

During fiscal 2020 and fiscal 2021, T.R.B International SA (“TRB”), a subsidiary of Vilebrequin, borrowed funds under several unsecured loans. A portion of the unsecured loans were to provide funding for operations in the normal course of business, while other unsecured loans were various European state backed loans as part of COVID-19 relief programs. Additionally, Sonia Rykiel borrowed funds pursuant to European state backed loans that were part of COVID-19 relief programs. In the aggregate, the Company is currently required to make quarterly installment payments of €0.2 million under these loans. Interest on the outstanding principal amount of the unsecured loans accrues at a fixed rate equal to 0% to 2.0% per annum, payable on either a quarterly or monthly basis. As of January 31, 2022, the Company had an aggregate outstanding balance of €7.4 million ($8.4 million) under these various unsecured loans.

Overdraft Facilities

During fiscal 2021, TRB entered into several overdraft facilities that allow for applicable bank accounts to be in a negative position up to a certain maximum overdraft. TRB entered into an uncommitted overdraft facility with HSBC Bank allowing for a maximum overdraft of €5 million. Interest on drawn balances accrues at a rate equal to the Euro Interbank Offered Rate plus a margin of 1.75% per annum, payable quarterly. The facility may be cancelled at any time by TRB or HSBC Bank. As part of a COVID-19 relief program, TRB and its subsidiaries have also entered into several state backed overdraft facilities with UBS Bank in Switzerland for an aggregate of CHF 4.7 million at varying interest rates of 0% to 0.5%. As of January 31, 2022, TRB had an aggregate of €2.6 million ($2.9 million) drawn under these various facilities.

Future Debt Maturities

As of January 31, 2022, the Company’s mandatory debt repayments mature in the years ending up to January 31, 2026 or thereafter.


Year Ending January 31,	Amount
	(In thousands)
2023	$	4,237
2024		126,790
2025		2,261
2026		401,764
2027 and thereafter		1,218

Accrued expenses

Accrued expenses consist of the following:


	January 31, 2022		January 31, 2021

	(in thousands)
Accrued bonuses	$	50,119	$	23,851
Other accrued expenses		78,005		78,936
Total	$	128,124	$	102,787

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Name Accounting Standards Codification
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+ Details

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 31, 2022

Stockholders' Equity [Abstract]

Stockholders' Equity

NOTE 11 — STOCKHOLDERS’ EQUITY

Share Repurchase Program

The Company’s Board of Directors had authorized a share repurchase program of 5,000,000 shares. The timing and actual number of shares repurchased, if any, will depend on a number of factors, including market conditions and prevailing stock prices, and are subject to compliance with certain covenants contained in the loan agreement. Share repurchases may take place on the open market, in privately negotiated transactions or by other means, and would be made in accordance with applicable securities laws.

During fiscal 2022, pursuant to this program, the Company acquired 656,213 shares of its common stock for an aggregate purchase price of $17.3 million. No shares of common stock were acquired pursuant to this program during fiscal 2021. During fiscal 2020, pursuant to this program, the Company acquired 1,327,566 shares of its common stock for an aggregate purchase price of $35.2 million. As of January 31, 2022, we had 2,293,149 authorized shares remaining under this program. In March 2022, the Board increased the number of authorized shares under this program to 10,000,000.

Long-Term Incentive Plan

As of January 31, 2022, the Company had 2,119,382 shares available for grant under its long-term incentive plan. The plan provides for the grant of equity and cash awards, including restricted stock awards, stock options and other stock unit awards to directors, officers and employees. RSU’s generally (i) cliff vest after three years or (ii) vest over a three year period. PRSU’s granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PSU’s granted to executives in fiscal 2020 vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance standards must be satisfied for vesting to occur. PSU’s are also subject to a lock up period that prevents the sale, contract to sell or transfer of shares for two years subsequent to the date of vesting. It is the Company’s policy to grant stock options at prices not less than the fair market value on the date of the grant. Option terms, vesting and exercise periods vary, except that the term of an option may not exceed ten years.

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2019	281,825	$	34.56	1,539,794	$	30.15
Granted	142,594	$	37.74	332,651	$	35.77
Vested	(168,781)	$	32.32	(810,655)	$	24.58
Cancelled	(12,695)	$	35.09	(3,080)	$	42.41
Unvested as of January 31, 2020	242,943	$	37.95	1,058,710	$	36.15
Granted	1,280,664	$	10.25	—	$	—
Vested	(107,917)	$	37.96	(279,053)	$	32.43
Cancelled	(22,422)	$	39.41	(312,827)	$	42.41
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17
Granted	326,791	$	31.52	176,212	$	31.43
Vested	(201,260)	$	20.43	(125,934)	$	30.23
Cancelled	(2,650)	$	33.46	—	$	—
Unvested as of January 31, 2022	1,516,149	$	15.48	517,108	$	34.20

Restricted Stock Units

Restricted stock units (“RSU’s”) are time based awards that do not have market or performance conditions and (i) cliff vest after three years or (ii) vest over a three year period. The grant date fair value for RSU’s are based on the quoted market price on the date of grant. Compensation expense for RSU’s is recognized in the consolidated financial statements on a straight-line basis over the service period based on their grant date fair value.

Performance Based Restricted Stock Units

Performance based restricted stock units consist of both performance based restricted stock units (“PRSU’s”) and performance stock units (“PSU’s”).

PRSU’s were granted to executives prior to fiscal 2020 and included (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSU’s generally vest over a two to five year period. For restricted stock units with market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. This valuation methodology utilizes the closing price of the Company’s common stock on grant date and several key assumptions, including expected volatility of the Company’s stock price, and risk-free rates of return. This valuation is performed with the assistance of a third party valuation specialist. PRSU’s are expensed over the service period under the accelerated attribution method.

PSU’s were granted in fiscal 2020 and fiscal 2022 to executives that vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance conditions must be satisfied for vesting to occur. The PSU’s granted to executives in fiscal 2020 are also subject to a lock up period that prevents the sale, contract to sell or transfer shares for two years subsequent to the date of vesting. PSU’s are expensed over the service period under the accelerated attribution method and based on an estimated percentage of achievement of certain pre-established goals.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vest.

The Company recognized $17.4 million, $6.1 million and $17.6 million in share-based compensation expense for the years ended January 31, 2022, 2021 and 2020 respectively, related to restricted stock unit grants. At January 31, 2022, 2021 and 2020, unrecognized costs related to the restricted stock units totaled $21.2 million, $12.9 million and $18.7 million, respectively. The total fair value of awards for which restrictions lapsed was $10.8 million, $5.0 million and $31.0 million as of January 31, 2022, 2021 and 2020, respectively.

Stock Options


	2022			2021			2020
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	18,245	$	23.63	39,311	$	18.51	55,311	$	15.70
Exercised	—	$	—	(21,066)	$	14.07	(13,200)	$	8.71
Granted	—	$	—	—	$	—	—	$	—
Cancelled or forfeited	(8,245)	$	30.32	—	$	—	(2,800)	$	9.20
Stock options outstanding at end of year	10,000	$	18.11	18,245	$	23.63	39,311	$	18.51
Exercisable	10,000	$	18.11	18,245	$	23.63	35,188	$	17.12

The following table summarizes information about stock options outstanding:

Number

Weighted

Number

Weighted

Outstanding as of

Average

Exercisable as of

Average

January 31,

Remaining

Exercise

January 31,

Exercise

Range of Exercise Prices

2022

Contractual Life

Price

2022

Price

$18.11

10,000

0.97

18.11

10,000

18.11

10,000

Stock Options

Compensation expense for employee stock options is recognized in the consolidated financial statements over the service period (generally the vesting period) based on their fair value. Stock options are valued using the Black-Scholes option pricing model. The Black-Scholes model requires subjective assumptions regarding dividend yields, expected volatility, expected life of options and risk-free interest rates. These assumptions reflect management’s best estimates. Changes in these inputs and assumptions can materially affect the estimate of fair value and the amount of our compensation expenses for stock options. No stock options were granted during the years ended January 31, 2022, January 31, 2021 and January 31, 2020.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vest.

The weighted average remaining term for stock options outstanding was 1.0 years at January 31, 2022. The aggregate intrinsic value at January 31, 2022 was $0.1 million for stock options outstanding and $0.1 million for stock options exercisable. The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the market price of the Company’s common stock as of January 31, 2022, the reporting date.

There were no stock options exercised during the year ended January 31, 2022. Proceeds received from the exercise of stock options were $0.3 million during the year ended January 31, 2021. The intrinsic value of stock options exercised was $0.1 million for the year ended January 31, 2021. A portion of this amount is currently deductible for tax purposes.

The Company did not recognize compensation expense for year ended January 31, 2022 related to stock options. The Company recognized $0.1 million in compensation expense for both the years ended January 31, 2021 and 2020 related to stock options.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jan. 31, 2022

Property Plant And Equipment [Abstract]

Schedule of property and equipment


		January 31,
	Estimated life	2022		2021

		(In thousands)
Machinery and equipment	5 years	$	1,882	$	1,724
Leasehold improvements	3-13 years		77,491		74,598
Furniture and fixtures	3-10 years		102,813		100,572
Computer equipment and software	2-5 years		43,484		40,255
			225,670		217,149
Less: accumulated depreciation			(176,865)		(160,085)
		$	48,805	$	57,064

Leases

12 Months Ended

Jan. 31, 2022

Leases [Abstract]

Leases

NOTE 6 — LEASES

On February 1, 2019, the Company adopted ASC 842 using the optional transition method to apply the standard as of the effective date and, therefore, the standard has not been applied retroactively to the comparative periods presented in its financial statements. The Company has elected the transition package of three practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company elected the short-term lease exception policy, permitting it to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component.

The Company determines whether an arrangement is, or contains, a lease at contract inception. The Company leases certain retail stores, warehouses, distribution centers, office space and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

Total rent payable is recorded during the lease term, including rent escalations in which the amount of future rent is certain or fixed on the straight-line basis over the term of the lease (including any rent holiday periods beginning upon control of the premises and any fixed payments stated in the lease). For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received or payable at commencement. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All retail store, warehouse, distribution center and office leases are classified as operating leases. The Company does not have any finance leases. Operating lease expense is generally recognized on a straight-line basis over the lease term.

Most leases are for a term of one to ten years. Some leases include one or more options to renew, with renewal terms that can extend the lease term from one to ten years. Several of the Company’s retail store leases include an option to terminate the lease based on failure to achieve a specified sales volume. The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.

Certain of the Company’s lease agreements include contingent rental payments based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. Contingent rent is accrued each period as the liabilities are incurred. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants.

The Company’s lease assets and liabilities as of January 31, 2022 and 2021 consist of the following:


Leases	Classification	January 31, 2022		January 31, 2021

		(In thousands)
Assets
Operating	Operating lease assets	$	169,595	$	186,070
Total lease assets		$	169,595	$	186,070

Liabilities
Current operating	Current operating lease liabilities	$	42,763	$	43,560
Noncurrent operating	Noncurrent operating lease liabilities		142,868		161,668
Total lease liabilities		$	185,631	$	205,228

During fiscal 2022, the Company recorded a $0.2 million impairment charge related to the operating lease assets at certain Vilebrequin and DKNY stores as a result of the performance at these stores. During fiscal 2021, the Company recorded a $19.4 million impairment charge related to the operating lease assets at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance

at these stores. During fiscal 2020, the Company recorded a $9.9 million impairment charge related to the operating lease assets at certain of our Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance of these stores. The Company determines the fair value of operating lease assets by discounting the estimated market rental rates over the remaining term of the lease.

The Company’s leases do not provide the rate of interest implicit in the lease. Therefore, the Company uses its incremental borrowing rate based on the information available at commencement date of each lease in determining the present value of lease payments. For transition purposes, the incremental borrowing rate on February 1, 2019 was used for operating leases that commenced prior to that date.

The Company recorded lease costs of $55.7 million, $92.4 million and $98.4 million during the years ended January 31, 2022, 2021 and 2020, respectively. Lease costs are recorded within selling, general and administrative expenses in the Company’s consolidated statements of income and comprehensive income. The Company recorded variable lease costs and short-term lease costs of $10.5 million, $6.7 million and $16.8 million for the years ended January 31, 2022, 2021 and 2020, respectively. Short-term lease costs are immaterial.

As of January 31, 2022, the Company’s maturity of operating lease liabilities in the years ending up to January 31, 2027 and thereafter are as follows:


Year Ending January 31,	Amount
	(In thousands)
2023	$	55,830
2024		44,473
2025		37,382
2026		29,726
2027		23,606
After 2027		40,440
Total lease payments	$	231,457
Less: Interest		45,826
Present value of lease liabilities	$	185,631

As of January 31, 2022, there are no material leases that are legally binding but have not yet commenced.

As of January 31, 2022, the weighted average remaining lease term related to operating leases is 5.3 years. The weighted average discount rate related to operating leases is 8.4%.

Cash paid for amounts included in the measurement of operating lease liabilities is $60.1 million and $108.9 million as of January 31, 2022 and 2021, respectively. Right-of-use assets obtained in exchange for lease obligations were $30.8 million and $56.6 million during the years ended January 31, 2022 and 2021, respectively.

Intangible Assets

12 Months Ended

Jan. 31, 2022

Intangible Assets [Abstract]

Intangible Assets

NOTE 7 — INTANGIBLE ASSETS

Intangible assets consist of:



January 31, 2022	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,334	$	(17,113)	$	2,221
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,240		(20,224)		28,016
Other	5-10 years		8,534		(7,410)		1,124
Total finite-lived intangible assets		$	78,302	$	(46,941)	$	31,361
Indefinite-lived intangible assets
Goodwill							262,527
Trademarks							453,329
Total indefinite-lived intangible assets							715,856
Total intangible assets, net						$	747,217



January 31, 2021	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,884	$	(16,959)	$	2,925
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,430		(17,843)		30,587
Other	5-10 years		8,624		(7,077)		1,547
Total finite-lived intangible assets		$	79,132	$	(44,073)	$	35,059
Indefinite-lived intangible assets
Goodwill							263,135
Trademarks							443,612
Total indefinite-lived intangible assets							706,747
Total intangible assets, net						$	741,806

Amortization expense

Amortization expense with respect to finite-lived intangibles amounted to $3.7 million, $4.3 million and $4.5 million for the years ended January 31, 2022, 2021 and 2020, respectively.

The estimated amortization expense with respect to intangibles for the next five years is as follows:


Year Ending January 31,	Amortization Expense
	(In thousands)
2023	$	3,318
2024		3,097
2025		3,027
2026		2,965
2027		2,706

Intangible assets with finite lives are amortized over their estimated useful lives and measured for impairment when events or circumstances indicate that the carrying value may be impaired.

Change in Goodwill

Changes in the amounts of goodwill for each of the years ended January 31, 2022 and 2021 are summarized by reportable segment as follows (in thousands):


	Wholesale		Retail		Total
January 31, 2020	$	260,622		—	$	260,622
Currency translation		2,513		—		2,513
January 31, 2021		263,135		—		263,135
Acquisition of Sonia Rykiel		1,518				1,518
Currency translation		(2,126)		—		(2,126)
January 31, 2022	$	262,527	$	—	$	262,527

Impairment

Goodwill represents the excess of the purchase price and related costs over the value assigned to net tangible and identifiable intangible assets of businesses acquired and accounted for under the purchase method. The Company reviews and tests its goodwill and intangible assets with indefinite lives for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company performs its goodwill test as of January 31 of each year using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. The Company also performs its annual test for intangible assets with indefinite lives as of January 31 of each year using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability.

The Company performed its annual tests of its wholesale reporting unit and its indefinite-lived trademarks as of January 31, 2022, 2021 and 2020 and determined that no impairment existed at those dates. The results of the Company’s annual tests determined that the estimated fair values of its wholesale reporting unit and its indefinite-lived trademarks were substantially in excess of their carrying values.

The Company’s indefinite-lived trademark balance is primarily composed of the Donna Karan/DKNY trademark that was acquired in fiscal 2017.

The fair value of the Company’s goodwill and indefinite-lived intangible assets are considered a Level 3 valuation in the fair value hierarchy.

CONCENTRATION - Textuals (Details) - Customer	12 Months Ended
CONCENTRATION - Textuals (Details) - Customer	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Customer One \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	23.90%	20.90%	26.30%
Customer One \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	26.40%	19.80%
Customer Two \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	14.80%	12.90%	13.20%
Customer Two \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	15.50%	19.50%
Customer Three \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	12.70%
Customer Three \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	11.30%	15.10%
Customer Four \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk		10.10%

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Current assets
Cash and cash equivalents	$ 465,984	$ 351,934
Accounts receivable, net of allowance for doubtful accounts of $17.4 million and $17.5 million, respectively	605,512	492,698
Inventories	512,155	416,503
Prepaid income taxes	14,502	26,102
Prepaid expenses and other current assets	54,704	56,803
Total current assets	1,652,857	1,344,040
Investments in unconsolidated affiliates	65,503	63,523
Property and equipment, net	48,805	57,064
Operating lease assets	169,595	186,070
Other assets, net	54,992	38,785
Other intangibles, net	31,361	35,059
Deferred income tax assets, net	3,559	5,098
Trademarks	453,329	443,612
Goodwill	262,527	263,135
Total assets	2,742,528	2,436,386
Current liabilities
Current portion of notes payable	4,237	4,402
Accounts payable	236,921	139,183
Accrued expenses	128,124	102,787
Customer refund liabilities	86,788	99,355
Current operating lease liabilities	42,763	43,560
Income tax payable	9,995	11,853
Other current liabilities	1,977	862
Total current liabilities	510,805	402,002
Notes payable, net of discount and unamortized issuance costs	515,344	507,950
Deferred income tax liabilities, net	40,010	20,353
Noncurrent operating lease liabilities	142,868	161,668
Other noncurrent liabilities	13,118	7,208
Total liabilities	1,222,145	1,099,181
Redeemable noncontrolling interests	471	964
Stockholders' Equity
Preferred stock; 1,000 shares authorized; no shares issued
Common stock - $0.01 par value; 120,000 shares authorized; 49,396 and, 49,396 shares issued, respectively	264	264
Additional paid-in capital	456,329	448,417
Accumulated other comprehensive loss	(14,529)	(2,094)
Retained earnings	1,117,005	916,683
Common stock held in treasury, at cost - 1,480 and 1,019 shares, respectively	(39,157)	(27,029)
Total stockholders' equity	1,519,912	1,336,241
Total liabilities, redeemable noncontrolling interests and stockholders' equity	$ 2,742,528	$ 2,436,386

EMPLOYEE BENEFIT PLANS - Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Defined Contribution Plan Disclosure [Line Items]
Non-discretionary matching contribution	100.00%
Percentage of employee's compensation matched by employer	3.00%
Employer matching percentage of employee contributions	50.00%
Percentage of additional employee's compensation matched by employer	2.00%
DKI
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, matching contributions	$ 0.3	$ 1.5	$ 4.7

INTANGIBLE ASSETS - Intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 78,302	$ 79,132
Accumulated amortization	(46,941)	(44,073)
Total finite-lived intangible assets	31,361	35,059
Indefinite-lived intangible assets
Goodwill	262,527	263,135	$ 260,622
Total indefinite-lived intangible assets	715,856	706,747
Total intangible assets, net	747,217	741,806
Trademarks
Indefinite-lived intangible assets
Trademarks	$ 453,329	443,612
Minimum
Indefinite-lived intangible assets
Estimated Life	5 years
Maximum
Indefinite-lived intangible assets
Estimated Life	17 years
License Agreements
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 19,334	19,884
Accumulated amortization	(17,113)	(16,959)
Total finite-lived intangible assets	$ 2,221	$ 2,925
Indefinite-lived intangible assets
Estimated Life	14 years	14 years
Trademarks
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 2,194	$ 2,194
Accumulated amortization	$ (2,194)	$ (2,194)
Trademarks \| Minimum
Indefinite-lived intangible assets
Estimated Life	8 years	8 years
Trademarks \| Maximum
Indefinite-lived intangible assets
Estimated Life	12 years	12 years
Customer Relationships
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 48,240	$ 48,430
Accumulated amortization	(20,224)	(17,843)
Total finite-lived intangible assets	$ 28,016	$ 30,587
Customer Relationships \| Minimum
Indefinite-lived intangible assets
Estimated Life	15 years	15 years
Customer Relationships \| Maximum
Indefinite-lived intangible assets
Estimated Life	17 years	17 years
Other
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 8,534	$ 8,624
Accumulated amortization	(7,410)	(7,077)
Total finite-lived intangible assets	$ 1,124	$ 1,547
Other \| Minimum
Indefinite-lived intangible assets
Estimated Life	5 years	5 years
Other \| Maximum
Indefinite-lived intangible assets
Estimated Life	10 years	10 years

INTANGIBLE ASSETS - Change in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 263,135	$ 260,622
Acquisition	1,518
Currency translation	(2,126)	2,513
Goodwill, Ending Balance	262,527	263,135
Wholesale operations
Goodwill [Roll Forward]
Goodwill, Beginning Balance	263,135	260,622
Acquisition	1,518
Currency translation	(2,126)	2,513
Goodwill, Ending Balance	262,527	263,135
Retail
Goodwill [Roll Forward]
Goodwill, Beginning Balance
Acquisition
Currency translation
Goodwill, Ending Balance

NOTES PAYABLE AND OTHER LIABILITIES - Accrued expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Notes Payable and Other Liabilities [Abstract]
Accrued bonuses	$ 50,119	$ 23,851
Other accrued expenses	78,005	78,936
Total	$ 128,124	$ 102,787

INCOME TAXES - Reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at February 1,	$ 2,293	$ 2,111
Additions for tax positions of prior years	595	182	$ 2,111
Lapses of statutes of limitations	(446)
Balance at January 31,	$ 2,442	$ 2,293	$ 2,111

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Millions	Jan. 31, 2022	Jan. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts, accrued returns and sales discounts on accounts receivable (in dollars)	$ 17.4	$ 17.5
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	120,000
Common stock, shares issued	49,396	49,396
Treasury stock, shares	1,480	1,019

STOCKHOLDERS' EQUITY - Summary of Information about Stock Options Outstanding (Details)	12 Months Ended
	Jan. 31, 2022 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number, Outstanding Shares	10,000
Number, Exercisable Shares	10,000
Exercisable Price Range $16.01 - $40.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, minimum \| $ / shares	$ 18.11
Number, Outstanding Shares	10,000
Weighted Average Remaining Contractual Life	11 months 19 days
Weighted Average Exercise Price \| $ / shares	$ 18.11
Number, Exercisable Shares	10,000
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 18.11

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
Net sales	$ 2,766,538	$ 2,055,146	$ 3,160,464
Cost of goods sold	1,778,349	1,310,704	2,042,524
Gross profit	988,189	744,442	1,117,940
Selling, general and administrative expenses	648,015	605,102	832,180
Depreciation and amortization	27,626	38,625	38,735
Asset impairments, net of loss (gain) on lease terminations	1,455	17,873	19,371
Operating profit (loss)	311,093	82,842	227,654
Other income (loss)	9,549	3,238	(1,149)
Interest and financing charges, net	(49,666)	(50,354)	(44,407)
Income (loss) before income taxes	270,976	35,726	182,098
Income tax expense (benefit)	70,875	12,203	38,261
Net income (loss)	200,101	23,523	143,837
Less: Income attributable to noncontrolling interests	(492)	(22)
Net income (loss) attributable to G-III Apparel Group, Ltd.	$ 200,593	$ 23,545	$ 143,837
Basic:
Net income (loss) per common share	$ 4.14	$ 0.49	$ 2.98
Weighted average number of shares outstanding (in shares)	48,426	48,242	48,209
Diluted:
Net income per common share	$ 4.05	$ 0.48	$ 2.94
Weighted average number of shares outstanding (in shares)	49,516	48,781	48,895
Other comprehensive income:
Foreign currency translation adjustments	$ (12,456)	$ (15,885)	$ (2,814)
Other comprehensive loss	(12,456)	(15,885)	(2,814)
Comprehensive income	187,645	7,638	141,023
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract]
Net loss	(492)	(22)
Foreign currency translation adjustments	21	(29)
Comprehensive income attributable to noncontrolling interests	(471)	(51)
Comprehensive income attributable to G-III Apparel Group, Ltd	$ 187,174	$ 7,587	$ 141,023

CONCENTRATION

12 Months Ended

Jan. 31, 2022

Risks and Uncertainties [Abstract]

CONCENTRATION

NOTE 12 — CONCENTRATION

Three customers in the wholesale operations segment accounted for approximately 23.9%, 14.8% and 12.7%, respectively, of the Company’s net sales for the year ended January 31, 2022. Two customers in the wholesale operations segment accounted for approximately 20.9% and 12.9%, respectively, of the Company’s net sales for the year ended January 31, 2021. Two customers in the wholesale operations segment accounted for 26.3% and 13.2% of the Company’s net sales for the year ended January 31, 2020. Three customers in the wholesale operations segment accounted for approximately 26.4%, 15.5% and 11.3%, respectively, of the Company’s net accounts receivable as of January 31, 2022. Four customers in the wholesale operations segment accounted for approximately 19.8%, 19.5%, 15.1% and 10.1%, respectively, of the Company’s net accounts receivable as of January 31, 2021.

Allowance for Doubtful Accounts (Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Accounts receivable, gross	$ 622,903	$ 510,157
Allowance for doubtful accounts	(17,391)	(17,459)	$ (710)
Accounts receivable, net	605,512	492,698
Wholesale operations
Segment Reporting Information [Line Items]
Accounts receivable, gross	620,737	509,010
Allowance for doubtful accounts	(17,307)	(17,429)	(628)
Accounts receivable, net	603,430	491,581
Retail
Segment Reporting Information [Line Items]
Accounts receivable, gross	2,166	1,147
Allowance for doubtful accounts	(84)	(30)	$ (82)
Accounts receivable, net	$ 2,082	$ 1,117

SEGMENTS

12 Months Ended

Jan. 31, 2022

Segments [Abstract]

SEGMENTS

NOTE 14 — SEGMENTS

The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under the Company’s owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues also include revenues from license agreements related to our owned trademarks including DKNY, Donna Karan, Vilebrequin, G.H. Bass and Andrew Marc. The retail operations segment consists primarily of direct sales to consumers through Company-operated stores, which, prior to the completion of the retail restructuring in fiscal 2021, consisted primarily of Wilsons Leather, G.H. Bass, DKNY and Karl Lagerfeld Paris stores, substantially all of which are operated as outlet stores. Sales through Company-owned digital channels, with the exception of Vilebrequin, are also included in the retail operations segment. As a result of the restructuring of the Company’s retail operations, the Company closed its Wilsons Leather, G.H. Bass and Calvin Klein Performance retail stores during fiscal 2021. After completion of the restructuring, the Company’s retail operations segment consists of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H Bass, Andrew Marc and Wilsons Leather.

The following segment information, in thousands, is presented for the fiscal years ended:


	January 31, 2022
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,710,787	$	117,656	$	(61,905)	$	2,766,538
Cost of goods sold		1,782,533		57,721		(61,905)		1,778,349
Gross profit		928,254		59,935		—		988,189
Selling, general and administrative expenses		567,949		80,066		—		648,015
Depreciation and amortization		24,023		3,603		—		27,626
Asset impairments, net of gain on lease terminations		368		1,087		—		1,455
Operating profit (loss)	$	335,914	$	(24,821)	$	—	$	311,093


	January 31, 2021
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	1,916,763	$	170,421	$	(32,038)	$	2,055,146
Cost of goods sold		1,229,548		113,194		(32,038)		1,310,704
Gross profit		687,215		57,227		—		744,442
Selling, general and administrative expenses		444,549		160,553		—		605,102
Depreciation and amortization		31,998		6,627		—		38,625
Asset impairments		1,010		16,863		—		17,873
Operating profit (loss)	$	209,658	$	(126,816)	$	—	$	82,842


	January 31, 2020
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,862,889	$	385,910	$	(88,335)	$	3,160,464
Cost of goods sold		1,925,062		205,797		(88,335)		2,042,524
Gross profit		937,827		180,113		—		1,117,940
Selling, general and administrative expenses		604,377		227,803		—		832,180
Depreciation and amortization		30,806		7,929		—		38,735
Asset impairments		412		18,959		—		19,371
Operating profit (loss)	$	302,232	$	(74,578)	$	—	$	227,654

(1)	Represents intersegment sales to the Company’s retail operations segment.

The total net sales by licensed and proprietary product sales for each of the Company’s reportable segments are as follows:


	January 31,
	2022		2021		2020

	(In thousands)
Licensed brands	$	1,820,491	$	1,390,112	$	2,045,480
Proprietary brands		890,296		526,651		817,409
Wholesale net sales	$	2,710,787	$	1,916,763	$	2,862,889

Licensed brands	$	39,604	$	17,488	$	27,338
Proprietary brands		78,052		152,933		358,572
Retail net sales	$	117,656	$	170,421	$	385,910

The Company allocates overhead to its business segments on various bases, which include units shipped, space utilization, inventory levels, and relative sales levels, among other factors. The method of allocation has been applied consistently on a year-to-year basis.

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:


	January 31,		January 31,
	2022		2021

	(In thousands)
Wholesale	$	2,073,834	$	1,844,682
Retail		111,517		85,625
Corporate		557,177		506,079
Total Assets	$	2,742,528	$	2,436,386

The total net sales and long-lived assets by geographic region are as follows:


	2022				2021				2020
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	2,365,919	$	938,947	$	1,755,791	$	834,181	$	2,774,492	$	964,476
Non-United States		400,619		150,724		299,355		258,165		385,972		231,973
	$	2,766,538	$	1,089,671	$	2,055,146	$	1,092,346	$	3,160,464	$	1,196,449

Capital expenditures for locations outside of the United States totaled $4.3 million, $3.0 million and $4.6 million for the years ended January 31, 2022, 2021 and 2020, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jan. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Schedule of future minimum royalty and advertising payments required under these agreements


Year Ending January 31,	Amount
	(In thousands)
2023		118,000
2024		91,167
2025		33,345
2026		26,888
2027		—
Thereafter		—
	$	269,400

SIGNIFICANT ACCOUNTING POLICIES - Effects of Recently Adopted and Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Basis of Presentation [Abstract]
Operating lease liabilities	$ 185,631	$ 205,228
Operating lease assets	169,595	186,070
Impairment of the operating lease assets, net of tax	$ 200	$ 19,400

STOCKHOLDERS' EQUITY - Information Regarding All Stock Options (Details) - $ / shares	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Shares
Stock options outstanding at beginning of year	18,245	39,311	55,311
Exercised		(21,066)	(13,200)
Granted	0	0	0
Cancelled or forfeited	(8,245)		(2,800)
Stock options outstanding at end of year	10,000	18,245	39,311
Exercisable	10,000	18,245	35,188
Weighted Average Exercise Price
Stock options outstanding at beginning of year	$ 23.63	$ 18.51	$ 15.70
Exercised		14.07	8.71
Cancelled or forfeited	30.32		9.20
Stock options outstanding at end of year	18.11	23.63	18.51
Exercisable	$ 18.11	$ 23.63	$ 17.12

SEGMENTS - Schedule of Total Net Sales by Licensed and Proprietary Product Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,766,538	$ 2,055,146	$ 3,160,464
Wholesale operations
Segment Reporting Information [Line Items]
Net sales	2,710,787	1,916,763	2,862,889
Wholesale operations \| Licensed Brands [Member]
Segment Reporting Information [Line Items]
Net sales	1,820,491	1,390,112	2,045,480
Wholesale operations \| Proprietary Brands [Member]
Segment Reporting Information [Line Items]
Net sales	890,296	526,651	817,409
Retail
Segment Reporting Information [Line Items]
Net sales	117,656	170,421	385,910
Retail \| Licensed Brands [Member]
Segment Reporting Information [Line Items]
Net sales	39,604	17,488	27,338
Retail \| Proprietary Brands [Member]
Segment Reporting Information [Line Items]
Net sales	78,052	152,933	358,572
Operating Segments \| Wholesale operations
Segment Reporting Information [Line Items]
Net sales	2,710,787	1,916,763	2,862,889
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Net sales	117,656	170,421	385,910
Elimination
Segment Reporting Information [Line Items]
Net sales	$ (61,905)	$ (32,038)	$ (88,335)

- Definition

+ References

+ Details

Allowance for Doubtful Accounts (Activity in Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Segment Reporting Information [Line Items]
Beginning balance	$ (17,459)	$ (710)
Provision for credit losses	(157)	(16,882)
Accounts written off as uncollectible	225	133
Ending balance	(17,391)	(17,459)
Wholesale operations
Segment Reporting Information [Line Items]
Beginning balance	(17,429)	(628)
Provision for credit losses	(103)	(16,934)
Accounts written off as uncollectible	225	133
Ending balance	(17,307)	(17,429)
Retail
Segment Reporting Information [Line Items]
Beginning balance	(30)	(82)
Provision for credit losses	(54)	52
Ending balance	$ (84)	$ (30)

STOCKHOLDERS' EQUITY - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended			24 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2021	Mar. 28, 2022
Stockholders Equity [Line Items]
Number of shares authorized to be repurchased under prior program	5,000,000
Stock repurchase program, remaining shares authorized		2,293,149		2,293,149
Common stock share acquired	656,213	0	1,327,566
Aggregate purchase price	$ 17,300		$ 35,216
Granted	0	0	0
Lock up period after vesting	2 years
Proceeds from exercise of equity awards		$ 297	$ 115
Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Shares available for grant	2,119,382
Subsequent Event
Stockholders Equity [Line Items]
Number of shares authorized to be repurchased under prior program					10,000,000
Restricted Stock Units (RSUs)
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Restricted Stock Units (RSUs) \| Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Share-based compensation expense	$ 17,400	6,100	17,600
Unrecognized stock compensation related to unvested option awards	21,200	12,900	18,700	$ 12,900
Fair value of award for which restrictions lapsed	$ 10,800	5,000	$ 31,000
Performance Shares [Member]
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Lock up period after vesting	2 years
Performance Shares [Member] \| Minimum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	2 years
Performance Shares [Member] \| Maximum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	5 years
Stock Options
Stockholders Equity [Line Items]
Weighted average remaining term for stock options outstanding	1 year
Aggregate intrinsic value for stock options outstanding	$ 100
Aggregate intrinsic value for stock option exercisable	100
Proceeds from exercise of equity awards	0	300
Intrinsic value of stock options exercised		$ 100
Share-based compensation expense	$ 0			$ 100
Stock Options \| Maximum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	10 years

Leases - Lease assets and liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Assets and Liabilities, Lessee [Abstract]
Operating lease assets	$ 169,595	$ 186,070
Classification of operating lease assets	Operating lease assets
Total lease assets	$ 169,595	186,070
Current operating lease liabilities	$ 42,763	43,560
Classification current operating lease liabilities	Current operating lease liabilities
Noncurrent operating lease liabilities	$ 142,868	161,668
Classification of noncurrent operating liabilities	Noncurrent operating lease liabilities
Total lease liabilities	$ 185,631	$ 205,228

Sonia Rykiel Acquisition

12 Months Ended

Jan. 31, 2022

Business Combinations [Abstract]

Sonia Rykiel Acquisition

NOTE 15 — SONIA RYKIEL

In October 2021, the Company purchased all of the issued and outstanding shares of European luxury fashion brand Sonia Rykiel. Sonia Rykiel, who created this iconic brand, was one of the leading figures of Parisian fashion. The Company plans to accelerate the relaunch of the brand in France in the fall of 2022, and then expand into Europe and other areas. The Company believes this purchase further enables it to expand into the luxury space and that there is untapped potential for this brand.

The Sonia Rykiel acquisition, which was immaterial, was accounted for under the acquisition method of accounting. Accordingly, the purchase price was allocated to the acquired assets based on their estimated fair values. The operating results for Sonia Rykiel are included in the Company’s consolidated financial statements beginning in the fourth quarter of fiscal 2022 from the effective date of the Sonia Rykiel acquisition.

NOTES PAYABLE AND OTHER LIABILITIES - Long-term debt (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Debt Instrument [Line Items]
Total	$ 515,344	$ 507,950
Long-term Debt
Debt Instrument [Line Items]
Subtotal	536,270	537,126
Less: Net debt issuance costs	(5,944)	(7,643)
Debt discount	(10,745)	(17,131)
Current portion of long-term debt	(4,237)	(4,402)
Secured notes
Debt Instrument [Line Items]
Debt issuance costs	8,500
Secured notes \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	400,000	400,000
Revolving credit facility
Debt Instrument [Line Items]
Debt issuance costs	5,600	7,200
LVMH Note
Debt Instrument [Line Items]
Debt discount	(40,000)
LVMH Note \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	125,000	125,000
Unsecured Loan \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	8,367	9,119
Overdraft facilities \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	$ 2,903	$ 3,007

EQUITY INVESTMENT

12 Months Ended

Jan. 31, 2022

EQUITY INVESTMENT

EQUITY INVESTMENT

NOTE 16 — EQUITY INVESTMENTS

Investment in Karl Lagerfeld Holding B.V.

In February 2016, the Company acquired a 19% minority interest in KLH, the parent company of the group that holds the worldwide rights to the Karl Lagerfeld brand. The Company paid €32.5 million (equal to $35.4 million at the date of the transaction) for this interest. This investment was intended to expand the partnership between the Company and the owners of Karl Lagerfeld brand and extend their business development opportunities on a global scale. The investment in KLH, which is being accounted for under the equity method of accounting, is reflected in Investment in Unconsolidated Affiliates on the Consolidated Balance Sheets at January 31, 2022 and 2021.

Investment in KL North America

In June 2015, the Company entered into a joint venture agreement with Karl Lagerfeld Group BV (“KLBV”). The Company paid KLBV $25.0 million for a 49% ownership interest in KLNA. KLNA holds brand rights to all Karl Lagerfeld trademarks, including the Karl Lagerfeld Paris brand the Company currently uses, for all consumer products (except

eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services) and apparel in the United States, Canada and Mexico. The investment in KLNA, which is being accounted for under the equity method of accounting, is reflected in Investment in Unconsolidated Affiliates on the Consolidated Balance Sheets at January 31, 2022 and 2021.

PROPERTY AND EQUIPMENT - Property and Equipment at Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 225,670	$ 217,149
Less: accumulated depreciation	(176,865)	(160,085)
Property and equipment, net	$ 48,805	57,064
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years
Property and equipment, gross	$ 1,882	1,724
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 77,491	$ 74,598
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	13 years	13 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 102,813	$ 100,572
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	10 years	10 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 43,484	$ 40,255
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	2 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years	5 years

Income Taxes

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 9 — INCOME TAXES

The income tax provision is comprised of the following:


	Year Ended January 31,
	2022		2021		2020

	(In thousands)
Current
Federal	$	39,283	$	(15,828)	$	22,471
State and city		4,484		(491)		4,856
Foreign		5,991		3,803		10,615
		49,758		(12,516)		37,942
Deferred
Federal		17,090		22,770		8,250
State and city		2,116		3,364		315
Foreign		1,911		(1,415)		(8,246)
		21,117		24,719		319
Income tax expense	$	70,875	$	12,203	$	38,261
Income before income taxes
United States	$	234,034	$	37,727	$	138,292
Non-United States		36,942		(2,001)		43,806
	$	270,976	$	35,726	$	182,098

Effective January 1, 2018, TCJA subjects a U.S. parent company to current tax on its global intangible low-taxed income (“GILTI”). For fiscal 2022, the Company has elected to treat the tax effect of GILTI as a current period expense.

The significant components of the Company’s net deferred tax asset at January 31, 2022 and 2021 are summarized as follows:


	2022		2021

	(In thousands)
Deferred income tax assets:
Compensation	$	1,807	$	2,673
Inventory		7,918		6,780
Provision for bad debts and sales allowances		15,972		18,531
Supplemental employee retirement plan		710		584
Net operating loss		10,949		12,703
Operating lease liability		32,721		35,658
Foreign tax credit carryforward		2,805		4,962
Other		782		3,792
Gross deferred income tax assets		73,664		85,683
Less: valuation allowance		(14,481)		(13,272)
Net deferred income tax assets		59,183		72,411
Deferred income tax liabilities:
Depreciation and amortization		(56,901)		(41,185)
Intangibles		(9,576)		(14,271)
Operating lease asset		(27,272)		(30,182)
Accrued expenses		(59)		—
Prepaid expenses and other		(1,826)		(2,028)
Total deferred income tax liabilities		(95,634)		(87,666)
Net deferred tax liabilities	$	(36,451)	$	(15,255)

The total undistributed earnings of the Company’s foreign subsidiaries are approximately $131.0 million for the fiscal year ended January 31, 2022. Upon distribution of those earnings in the form of dividends, the Company does not anticipate any material tax costs. As such, no deferred taxes have been provided for withholding taxes or other taxes that would result upon repatriation of undistributed foreign earnings. Those earnings are considered indefinitely reinvested. Even though the undistributed earnings could have been distributed back generally without U.S. federal income tax as a result of the one-time transition tax under the TCJA regime, the Company does not expect to change its indefinite reinvestment categorization with respect to those earnings.

The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements for the years ended January 31:


	2022		2021		2020
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	2.0		(0.6)		1.9
Permanent differences resulting in Federal taxable income	4.3		12.8		5.9
Foreign tax rate differential	—		(0.3)		(3.8)
Share-based payments	—		12.5		(0.8)
Foreign tax credit	(3.4)		(7.3)		(3.5)
Valuation allowance	0.8		13.7		0.9
Net operating loss carryback	—		(18.6)		—
Other, net	1.5		1.0		(0.6)
Actual provision for income taxes	26.2	%	34.2	%	21.0	%

The Company’s effective tax rate decreased 8.0% percent in fiscal 2022 compared to fiscal 2021. This decrease in the Company’s effective tax rate is primarily the result of the Company’s significant increase in pretax book income in relation

to its tax expense. The Company’s effective tax rate increased 13.2% percent in fiscal 2021 as compared to fiscal 2020. The increase in the Company’s fiscal 2021 effective tax rate compared to the fiscal 2020 effective tax rate is primarily the result of the Company’s significant reduction in pretax book income in relation to its tax expense.

Valuation allowances represent deferred tax benefits where management is uncertain if the Company will have the ability to recognize those benefits in the future. During the year ended January 31, 2022, the Company recorded an additional valuation allowance of $1.2 million against its deferred tax assets for its standalone state tax losses and foreign retail losses.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties) is as follows:



	2022		2021		2020

	(In thousands)
Balance at February 1,	$	2,293	$	2,111	$	—
Additions for tax positions of prior years		595		182		2,111
Lapses of statues of limitations		(446)		—		—
Balance at January 31,	$	2,442	$	2,293	$	2,111

The Company accounts for uncertain income tax positions in accordance with ASC 740 — Income Taxes. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of January 31, 2022, there was an increase in the unrecognized tax position reserve of $0.2 million related to recent state and local tax return filings.

The Company’s policy on classification is to include interest in interest and financing charges, net and penalties in selling, general and administrative expenses in the accompanying Consolidated Statements of Income and Comprehensive Income. The Company and certain of its subsidiaries are subject to U.S. Federal income tax as well as the income tax of multiple state, local, and foreign jurisdictions.

Of the major jurisdictions, the Company and its subsidiaries are subject to examination in the United States and various foreign jurisdictions for fiscal year 2014 and forward. The Company is currently under audit examination by New York, New Jersey and Canada for fiscal years 2016 through 2019. The Company believes that it is reasonably possible there will be no change to its unrecognized income tax position reserves during the next twelve months due to the applicable statues of limitations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

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-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Allowance for Doubtful Accounts (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Allowance for Doubtful Accounts [Abstract]
Increase in allowance for doubtful accounts	$ 157	$ 16,882

INTANGIBLE ASSETS (Tables)

12 Months Ended

Jan. 31, 2022

Business Combinations [Abstract]

Schedule of intangible assets

Intangible assets consist of:



January 31, 2022	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,334	$	(17,113)	$	2,221
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,240		(20,224)		28,016
Other	5-10 years		8,534		(7,410)		1,124
Total finite-lived intangible assets		$	78,302	$	(46,941)	$	31,361
Indefinite-lived intangible assets
Goodwill							262,527
Trademarks							453,329
Total indefinite-lived intangible assets							715,856
Total intangible assets, net						$	747,217



January 31, 2021	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,884	$	(16,959)	$	2,925
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,430		(17,843)		30,587
Other	5-10 years		8,624		(7,077)		1,547
Total finite-lived intangible assets		$	79,132	$	(44,073)	$	35,059
Indefinite-lived intangible assets
Goodwill							263,135
Trademarks							443,612
Total indefinite-lived intangible assets							706,747
Total intangible assets, net						$	741,806

Schedule of estimated intangible amortization expense


Year Ending January 31,	Amortization Expense
	(In thousands)
2023	$	3,318
2024		3,097
2025		3,027
2026		2,965
2027		2,706

Schedule of changes in amounts of goodwill

Changes in the amounts of goodwill for each of the years ended January 31, 2022 and 2021 are summarized by reportable segment as follows (in thousands):


	Wholesale		Retail		Total
January 31, 2020	$	260,622		—	$	260,622
Currency translation		2,513		—		2,513
January 31, 2021		263,135		—		263,135
Acquisition of Sonia Rykiel		1,518				1,518
Currency translation		(2,126)		—		(2,126)
January 31, 2022	$	262,527	$	—	$	262,527

INCOME TAXES - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Current
Federal	$ 39,283	$ (15,828)	$ 22,471
State and city	4,484	(491)	4,856
Foreign	5,991	3,803	10,615
Current Income Tax Expense (Benefit), Total	49,758	(12,516)	37,942
Deferred
Federal	17,090	22,770	8,250
State and city	2,116	3,364	315
Foreign	1,911	(1,415)	(8,246)
Deferred Income Tax Expense (Benefit), Total	21,117	24,719	319
Income tax expense	70,875	12,203	38,261
Income before income taxes
United States	234,034	37,727	138,292
Non-United States	36,942	(2,001)	43,806
Income (loss) before income taxes	$ 270,976	$ 35,726	$ 182,098

SIGNIFICANT ACCOUNTING POLICIES - Reconciliation between Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Basis of Presentation [Abstract]
Net income (loss)	$ 200,101	$ 23,523	$ 143,837
Net income attributable to G-III Apparel Group, Ltd.	$ 200,593	$ 23,545	$ 143,837
Basic net income (loss) per share:
Basic common shares	48,426	48,242	48,209
Net income (loss) per common share (in dollar per shares)	$ 4.14	$ 0.49	$ 2.98
Diluted net income (loss) per share:
Basic common shares	48,426	48,242	48,209
Diluted restricted stock awards and stock options	1,090	539	686
Diluted common shares	49,516	48,781	48,895
Diluted net income (loss) per share (in dollars per share)	$ 4.05	$ 0.48	$ 2.94

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Rate to Effective Rate Reported in Financial Statements (Details)	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Income Tax Disclosure [Abstract]
Provision for Federal income taxes at the statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of Federal tax benefit	2.00%	(0.60%)	1.90%
Permanent differences resulting in Federal taxable income	4.30%	12.80%	5.90%
Foreign tax rate differential		(0.30%)	(3.80%)
Share-based payments		12.50%	(0.80%)
Foreign tax credit	(3.40%)	(7.30%)	(3.50%)
Valuation allowance	0.80%	13.70%	0.90%
Net operating loss carryback		(18.60%)
Other, net	1.50%	1.00%	(0.60%)
Actual provision for income taxes	26.20%	34.20%	21.00%

PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2022

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 5 — PROPERTY AND EQUIPMENT

Property and equipment consist of:


		January 31,
	Estimated life	2022		2021

		(In thousands)
Machinery and equipment	5 years	$	1,882	$	1,724
Leasehold improvements	3-13 years		77,491		74,598
Furniture and fixtures	3-10 years		102,813		100,572
Computer equipment and software	2-5 years		43,484		40,255
			225,670		217,149
Less: accumulated depreciation			(176,865)		(160,085)
		$	48,805	$	57,064

The Company wrote off fixed assets of $0.2 million and $0.4 million, net of accumulated depreciation, for the years ended January 31, 2022 and 2021. Depreciation expense was $23.6 million, $34.0 million and $33.8 million for the years ended January 31, 2022, 2021 and 2020, respectively. For the year ended January 31, 2022, the Company recorded a $1.3 million impairment charge related to leasehold improvements and furniture and fixtures of certain DKNY and Karl Lagerfeld Paris stores as a result of the performance of these stores. For the year ended January 31, 2021, the Company recorded an $0.8 million impairment charge related to leasehold improvements and furniture and fixtures of certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY stores as a result of the performance of these stores. For the year ended January 31, 2020, the Company recorded an $11.5 million impairment charge related to leasehold improvements and furniture and fixtures of certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance of these stores.

The Company evaluates long-lived assets, which consist primarily of property and equipment and operating lease assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation process, the Company first compares the carrying value of the asset to the estimated future cash flows (undiscounted and without interest charges plus proceeds expected from disposition, if any). If the estimated undiscounted cash flows are less than the carrying value of the asset, the Company needs to determine the fair value of the assets. The Company compares the carrying value of the asset or asset group to its estimated fair value. If the fair value is less than the carrying value, the Company recognizes an impairment charge. The carrying amount of the asset or asset group is reduced to the estimated fair value based on a discounted cash flow valuation. Assets to be disposed of are reported at the lower of the carrying amount of the asset or fair value less costs to sell. The Company reviews retail store assets for potential impairment based on historical cash flows, lease termination provisions and forecasted future retail store operating results. If the Company recognizes an impairment charge for a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis and will be depreciated (amortized) over the remaining useful life of that asset.

STOCKHOLDERS' EQUITY - Restricted Stock (Details) - $ / shares	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Restricted Stock Units (RSUs)
Awards Outstanding
Unvested, beginning balance	1,393,268	242,943	281,825
Granted	326,791	1,280,664	142,594
Vested	(201,260)	(107,917)	(168,781)
Canceled	(2,650)	(22,422)	(12,695)
Unvested, ending balance	1,516,149	1,393,268	242,943
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 12.47	$ 37.95	$ 34.56
Granted	31.52	10.25	37.74
Vested	20.43	37.96	32.32
Canceled	33.46	39.41	35.09
Unvested, ending balance	$ 15.48	$ 12.47	$ 37.95
Performance Shares [Member]
Awards Outstanding
Unvested, beginning balance	466,830	1,058,710	1,539,794
Granted	176,212		332,651
Vested	(125,934)	(279,053)	(810,655)
Canceled		(312,827)	(3,080)
Unvested, ending balance	517,108	466,830	1,058,710
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 34.17	$ 36.15	$ 30.15
Granted	31.43		35.77
Vested	30.23	32.43	24.58
Canceled		42.41	42.41
Unvested, ending balance	$ 34.20	$ 34.17	$ 36.15

INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision


	Year Ended January 31,
	2022		2021		2020

	(In thousands)
Current
Federal	$	39,283	$	(15,828)	$	22,471
State and city		4,484		(491)		4,856
Foreign		5,991		3,803		10,615
		49,758		(12,516)		37,942
Deferred
Federal		17,090		22,770		8,250
State and city		2,116		3,364		315
Foreign		1,911		(1,415)		(8,246)
		21,117		24,719		319
Income tax expense	$	70,875	$	12,203	$	38,261
Income before income taxes
United States	$	234,034	$	37,727	$	138,292
Non-United States		36,942		(2,001)		43,806
	$	270,976	$	35,726	$	182,098

Schedule of significant components of net deferred tax assets


	2022		2021

	(In thousands)
Deferred income tax assets:
Compensation	$	1,807	$	2,673
Inventory		7,918		6,780
Provision for bad debts and sales allowances		15,972		18,531
Supplemental employee retirement plan		710		584
Net operating loss		10,949		12,703
Operating lease liability		32,721		35,658
Foreign tax credit carryforward		2,805		4,962
Other		782		3,792
Gross deferred income tax assets		73,664		85,683
Less: valuation allowance		(14,481)		(13,272)
Net deferred income tax assets		59,183		72,411
Deferred income tax liabilities:
Depreciation and amortization		(56,901)		(41,185)
Intangibles		(9,576)		(14,271)
Operating lease asset		(27,272)		(30,182)
Accrued expenses		(59)		—
Prepaid expenses and other		(1,826)		(2,028)
Total deferred income tax liabilities		(95,634)		(87,666)
Net deferred tax liabilities	$	(36,451)	$	(15,255)

Schedule of reconciliation of statutory federal income tax rate to effective rate reported in financial statements


	2022		2021		2020
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	2.0		(0.6)		1.9
Permanent differences resulting in Federal taxable income	4.3		12.8		5.9
Foreign tax rate differential	—		(0.3)		(3.8)
Share-based payments	—		12.5		(0.8)
Foreign tax credit	(3.4)		(7.3)		(3.5)
Valuation allowance	0.8		13.7		0.9
Net operating loss carryback	—		(18.6)		—
Other, net	1.5		1.0		(0.6)
Actual provision for income taxes	26.2	%	34.2	%	21.0	%

Schedule of reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties)



	2022		2021		2020

	(In thousands)
Balance at February 1,	$	2,293	$	2,111	$	—
Additions for tax positions of prior years		595		182		2,111
Lapses of statues of limitations		(446)		—		—
Balance at January 31,	$	2,442	$	2,293	$	2,111

PROPERTY AND EQUIPMENT - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Property Plant And Equipment [Line Items]
Fixed asset write offs	$ 200	$ 400
Depreciation expense	23,600	34,000	$ 33,800
Wilsons, G.H. Bass and DKNY Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements			21,800
Furniture and fixtures \| Wilsons, G.H. Bass and DKNY Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements			21,800
Leasehold improvements and furniture and fixtures [Member] \| DKNY and Karl Lagerfeld Paris Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements	$ 1,300
Leasehold improvements and furniture and fixtures [Member] \| Wilsons and G.H. Bass Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements		$ 800	$ 11,500

Leases - Other information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021
Leases [Abstract]
Weighted average remaining lease term	5 years 3 months 18 days
Weighted average discount rate	8.40%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 60.1	$ 108.9
Right-of-use assets obtained in exchange for lease obligations	$ 30.8	$ 56.6

NOTES PAYABLE AND OTHER LIABILITIES - Textuals (Details) $ in Thousands, € in Millions			12 Months Ended
	Aug. 07, 2020 USD ($)	Aug. 06, 2020 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2020 EUR (€)	Jan. 31, 2022 EUR (€)	Jan. 31, 2021 USD ($)
Debt Instrument [Line Items]
Borrowings outstanding			$ 8,400
Outstanding amount			515,344			$ 507,950
Unamortized debt issuance costs		$ 3,300
Interest expense		$ 400
Term Loan [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs			6,100
Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value			536,270			537,126
Debt discount			$ 10,745			17,131
Secured notes
Debt Instrument [Line Items]
Interest rate	7.875%		7.875%
Interest rate terms			The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021
Frequency of periodic payment			semi-annually
Date of first payment			Feb. 15, 2021
Principal amount of debt	$ 400,000
Debt issuance costs			$ 8,500
Secured notes \| Term Loan [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 300,000
Secured notes \| Prior to August 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption percentage			100.00%
Maximum percentage of aggregate principal amount of Notes which may be redeemed with equity offerings			40.00%		40.00%
Secured notes \| Any twelve month period prior to August 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption percentage			103.00%
Maximum percentage of aggregate principal amount of notes which may be redeemed in a 12 month period			10.00%
Secured notes \| If Company experiences a Change of Control [Member]
Debt Instrument [Line Items]
Redemption percentage			101.00%
Secured notes \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value			$ 400,000			400,000
Revolving credit facility
Debt Instrument [Line Items]
Debt issuance costs			$ 5,600			7,200
LVMH Note
Debt Instrument [Line Items]
Debt instrument interest rate			2.00%		2.00%
Principal amount of debt			$ 125,000
Debt discount			40,000
LVMH Note \| Notes Payable Due On June 1 2023
Debt Instrument [Line Items]
Principal amount of debt			$ 75,000
Maturity date			Jun. 01, 2023
LVMH Note \| Notes Payable due on December 1, 2023
Debt Instrument [Line Items]
Principal amount of debt			$ 50,000
Maturity date			Dec. 01, 2023
LVMH Note \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value			$ 125,000			125,000
Unsecured Loan
Debt Instrument [Line Items]
Borrowings outstanding \| €					€ 7.4
Installment payments \| €				€ 0.2
Unsecured Loan \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value			8,367			$ 9,119
Overdraft facility
Debt Instrument [Line Items]
Principal amount of debt			$ 4,700		€ 5.0
Fixed rate			1.75%		1.75%
Debt facility amount			$ 2,900		€ 2.6
Minimum
Debt Instrument [Line Items]
Fixed rate				0.00%
Minimum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate			0.00%		0.00%
Maximum
Debt Instrument [Line Items]
Fixed rate				2.00%
Maximum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate			0.50%		0.50%

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 116,814	$ 234,128	$ 244,514
Charges to Cost and Expenses	137,237	159,567	478,996
Deductions	149,872	276,881	489,382
Balance at End of Period	104,179	116,814	234,128
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	17,459	710	924
Charges to Cost and Expenses	157	16,882	(72)
Deductions	225	133	142
Balance at End of Period	17,391	17,459	710
Reserve for returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	40,704	46,489	62,278
Charges to Cost and Expenses	19,475	41,348	56,440
Deductions	29,358	47,133	72,229
Balance at End of Period	30,821	40,704	46,489
Reserve for sales allowances
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	58,651	186,929	181,312
Charges to Cost and Expenses	117,605	101,337	422,628
Deductions	120,289	229,615	417,011
Balance at End of Period	$ 55,967	$ 58,651	$ 186,929

INCOME TAXES - Summary of Significant Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2022	Jan. 31, 2021
Deferred Income Tax Assets:
Compensation	$ 1,807	$ 2,673
Inventory	7,918	6,780
Provision for bad debts and sales allowances	15,972	18,531
Supplemental employee retirement plan	710	584
Net operating loss	10,949	12,703
Operating lease liability	32,721	35,658
Foreign tax credit carryforward	2,805	4,962
Other	782	3,792
Gross deferred income tax assets	73,664	85,683
Less: valuation allowance	(14,481)	(13,272)
Net deferred income tax assets	59,183	72,411
Deferred income tax liabilities:
Depreciation and amortization	(56,901)	(41,185)
Intangibles	(9,576)	(14,271)
Operating lease asset	(27,272)	(30,182)
Prepaid expenses and other	(1,826)	(2,028)
Accrued other	(59)
Total deferred income tax liabilities	(95,634)	(87,666)
Net deferred tax liabilities	$ (36,451)	$ (15,255)

NOTES PAYABLE AND OTHER LIABILITIES - Second Amended and Restated ABL Credit Agreement (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 07, 2020	Jan. 31, 2022	Jan. 31, 2021
Debt Instrument [Line Items]
Outstanding amount		$ 515,344	$ 507,950
Second amended and restated credit agreement \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage		0.50%
Second amended and restated credit agreement \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage		0.35%
Senior secured credit facility
Debt Instrument [Line Items]
Debt issuance costs	$ 8,000
Senior secured credit facility \| One-month LIBOR
Debt Instrument [Line Items]
Spread interest rate	1.00%
Senior secured credit facility \| Federal funds rate
Debt Instrument [Line Items]
Spread interest rate	0.50%
Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Term of credit agreement	5 years
Fixed charge coverage ratio		1.00%
Credit covenant compliance		As of January 31, 2022, the Company was in compliance with these covenants
Debt issuance costs	$ 5,100
Outstanding amount		$ 0
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Maximum
Debt Instrument [Line Items]
Spread interest rate	1.25%
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Minimum
Debt Instrument [Line Items]
Spread interest rate	0.75%
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR plus \| Maximum
Debt Instrument [Line Items]
Spread interest rate	2.25%
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR plus \| Minimum
Debt Instrument [Line Items]
Spread interest rate	1.75%
Trade Letters of Credit
Debt Instrument [Line Items]
Outstanding amount		10,000
Standby Letters of Credit
Debt Instrument [Line Items]
Outstanding amount		$ 4,000
Term Loan \| Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Senior secured credit facility	$ 650,000

Revenue Recognition

12 Months Ended

Jan. 31, 2022

Revenue Recognition [Abstract]

Revenue Recognition

NOTE 2 — REVENUE RECOGNITION

Wholesale revenue is recognized upon the transfer of goods to customers in an amount that reflects the expected consideration to be received in exchange for these goods. The difference between the amount initially billed and the amount collected represents variable consideration. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

The liability recorded in connection with variable consideration, except for cooperative advertising, has been classified as a current liability under “Customer refund liabilities” in the Consolidated Balance Sheet. The Company classifies cooperative advertising as a reduction of net sales in the Consolidated Statements of Income and Comprehensive Income. Costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

Disaggregation of Revenue

In accordance with ASC 606, the Company elected to disclose its revenues by segment. Each segment presents its own characteristics with respect to the timing of revenue recognition and the type of customer. In addition, disaggregating revenues using a segment basis is consistent with how the Company’s Chief Operating Decision Maker manages the Company. The Company identified the wholesale operations segment and the retail operations segment as distinct sources of revenue.

Wholesale Operations Segment. Wholesale revenues include sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues from sales of products are recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Wholesale revenues also include revenues from license agreements related to the DKNY, Donna Karan, G.H. Bass, Andrew Marc and Vilebrequin

trademarks owned by the Company. As of January 31, 2022, revenues from license agreements represented an insignificant portion of wholesale revenues.

Retail Operations Segment. Retail store revenues are generated by direct sales to consumers through company-operated stores and product sales through the Company’s digital channels for the DKNY, Donna Karan, G.H. Bass, Karl Lagerfeld Paris, Andrew Marc and Wilsons Leather businesses. Prior to completion of the restructuring in fiscal 2021, retail stores primarily consisted of Wilsons Leather, G.H. Bass, DKNY and Karl Lagerfeld Paris retail stores, substantially all of which are operated as outlet stores. The Company’s Wilsons Leather and G.H. Bass stores were closed in fiscal 2021 as a result of the retail restructuring. Retail operations segment revenues are recognized at the point of sale when the customer takes possession of the goods and tenders payment. Digital revenues primarily consist of sales to consumers through the Company’s digital platforms. Digital revenue is recognized when a customer takes possession of the goods. Retail sales are recorded net of applicable sales tax.

Variable Consideration. The difference between the amount initially billed and the amount collected represents variable consideration. The Company may provide customers with discounts, rebates, credit returns and price reductions. The Company may also contribute to customers’ promotional activities or incur charges for compliance violations. These adjustments to the initial selling price often occur after the sales process is completed.

The Company identified the following elements of variable consideration:

Markdowns. Markdown allowances consist of accommodations in the form of price reductions to wholesale customers for purchased merchandise. In general, markdowns are granted to full price customers, such as department stores. Markdowns may vary year-over-year and are granted based on the performance of Company merchandise at a customer’s retail stores.

Term Discounts. Term discounts represent a discount from the initial wholesale sales price to certain wholesale customers consistent with customary industry practice.

Sales Allowances. Sales allowances are reductions of the selling price agreed upon with wholesale customers. Sales allowances may be contractual or may be granted on a case-by-case basis. Non-contractual sales allowances may be granted in connection with billing adjustments and, in some cases, for product related issues.

Advertising Allowances. Advertising allowances consist of the Company’s financial participation in the promotional efforts of its wholesale customers. Wholesale customers may charge back a portion of the advertising expense incurred against open invoices. Advertising programs are generally agreed upon at the beginning of a season.

Other Allowances. General allowances consist of price reductions granted to a wholesale customer and may relate to the Company’s participation in costs incurred by the customer during the sales process, as well as price differences, shortages and charges for operational non-compliance.

Return of Merchandise. For wholesale customers, the Company may make accommodations for returns of merchandise that is underperforming at a customer’s retail stores. For retail customers, as a matter of Company policy, whether merchandise is purchased at the Company’s stores or on its digital platforms, the consumer generally has up to 90 days to return merchandise from the date of purchase.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded under customer refund liabilities. As of January 31, 2022 and 2021, customer refund liabilities amounted to $86.8 million and $99.4 million, respectively. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

Contract Liabilities

The Company’s contract liabilities, which are recorded within accrued expenses in the accompanying consolidated balance sheets, primarily consist of gift card liabilities and advance payments from licensees. In some of its retail concepts, the Company also offers a limited loyalty program where customers accumulate points redeemable for cash discount certificates that expire 90 days after issuance. Total contract liabilities were $5.1 million and $5.9 million at January 31, 2022 and 2021, respectively. The Company recognized $4.9 million in revenue for the year ended January 31, 2022 which related to contract liabilities that existed at January 31, 2021. There were no contract assets recorded as of January 31, 2022 and January 31, 2021. Substantially all of the advance payments from licenses as of January 31, 2022 are expected to be recognized as revenue within the next twelve months.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

COMMITMENTS AND CONTINGENCIES - Future Minimum Royalty and Advertising Payments (Details) - Royalty and Advertising Payments $ in Thousands	Jan. 31, 2022 USD ($)
Licenses Agreements [Line Items]
2023	$ 118,000
2024	91,167
2025	33,345
2026	26,888
Future minimum royalty and advertising payments, total	$ 269,400

RELATED PARTY TRANSACTIONS - Textuals (Details) - USD ($) $ in Thousands	11 Months Ended	12 Months Ended
	Nov. 30, 2020	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jun. 30, 2015
Related Party Transaction [Line Items]
Percent of interest acquired in joint venture					49.00%
Revenues		$ 2,766,538	$ 2,055,146	$ 3,160,464
KLNA
Related Party Transaction [Line Items]
Royalty and advertising expense		$ 8,100	3,500	$ 6,800
KLNA \| KLNA
Related Party Transaction [Line Items]
Percent of interest acquired in joint venture		49.00%
Fabco
Related Party Transaction [Line Items]
Inventory sold to related party		$ 2,700	4,400
Revenue from related party	$ 900
Revenues			$ 3,100
Fabco \| Fabco
Related Party Transaction [Line Items]
Percentage of ownership interest	49.00%

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 10 — COMMITMENTS AND CONTINGENCIES

License Agreements

The Company has entered into license agreements that provide for royalty payments based on net sales of licensed products. The Company incurred royalty expense (included in cost of goods sold) of $145.1 million, $116.8 million and $178.8 million for the years ended January 31, 2022, 2021 and 2020, respectively. Contractual advertising expense, which is included in selling, general and administrative expenses and is normally based on a percentage of net sales associated with certain license agreements, was $41.2 million, $29.5 million and $48.3 million for the years ended January 31, 2022,

2021 and 2020, respectively. Based on minimum net sales requirements, future minimum royalty and advertising payments required under these agreements are:


Year Ending January 31,	Amount
	(In thousands)
2023		118,000
2024		91,167
2025		33,345
2026		26,888
2027		—
Thereafter		—
	$	269,400

Legal Proceedings

In the ordinary course of business, the Company is subject to periodic claims, investigations and lawsuits. Although the Company cannot predict with certainty the ultimate resolution of claims, investigations and lawsuits, asserted against the Company, it does not believe that any currently pending legal proceeding or proceedings to which it is a party could have a material adverse effect on its business, financial condition or results of operations.

Canadian Customs Duty Examination

In October 2017, the Canada Border Service Agency (“CBSA”) issued a final audit report to G-III Apparel Canada ULC (“G-III Canada”), a wholly-owned subsidiary of the Company. The report challenged the valuation used by G-III Canada for certain goods imported into Canada. The period covered by the examination is February 1, 2014 through October 27, 2017, the date of the final report. The CBSA has requested G-III Canada to reassess its customs entries for that period using the price paid or payable by the Canadian retail customers for certain imported goods rather than the price paid by G-III Canada to the vendor. The CBSA has also requested that G-III Canada change the valuation method used to pay duties with respect to goods imported in the future.

In March 2018, G-III Canada provided a bond to guarantee payment to the CBSA for additional duties payable as a result of the reassessment required by the final audit report. The Company secured a bond in the amount of CAD$26.9 million ($20.9 million) representing customs duty and interest through December 31, 2017 that is claimed to be owed to the CBSA. In March 2018, the Company amended the duties filed for the month of January 2018 under the new valuation method. This amount was paid to the CBSA. Beginning February 1, 2018, the Company began paying duties based on the new valuation method. There were no amounts paid and deferred during the year ended January 31, 2022 related to the higher dutiable values, however, the Company paid interest in the amount of CAD$1.0 million ($0.8 million) on the additional duties for the period January 15, 2018 through November 25, 2020, the date of the CBSA’s final decision as discussed below. Cumulative amounts paid and deferred through January 31, 2022, related to the higher dutiable values, were CAD$14.7 million ($11.6 million).

Effective June 1, 2019, G-III commenced paying based on the dutiable value of G-III Canada’s imports based on the pre-audit levels. G-III continued to defer the additional duty paid through the month of May 2019 pending the final outcome of the appeal.

The CBSA has issued its final decision denying the appeal filed by G-III Canada with the President’s Office of the CBSA. G-III Canada has filed a Notice of Appeal with the Canadian International Trade Tribunal (the “Tribunal”) further appealing the CBSA decision. A hearing on the appeal was held on December 7, 2021.

G-III Canada, based on the advice of counsel, believes it has positions that support its valuations for duty as declared and therefore its ability to receive a refund of amounts claimed to be owed to the CBSA on appeal and intends to vigorously contest the findings of the CBSA.