Tom Murry

(BUSINESS WIRE) -- G-III Apparel Group, Ltd. (nasdaqgs:GIII) today announced that it has entered into a joint venture agreement with China Ting Group Holdings Limited to open and operate Calvin Klein Performance retail stores in China and Hong Kong, under the Calvin Klein Performance store license previously granted to G-III by Calvin Klein, Inc., a wholly owned subsidiary of PVH Corp. /quotes/zigman/5785329/quotes/nls/pvh PVH +0.22% Morris Goldfarb, Chairman and Chief Executive Officer of G-III Apparel Group, commented, “As the pre-eminent global fashion brand, Calvin Klein is well positioned for further success in the Performance Apparel arena. With strong relationships and

China, expected to top the world in luxury-goods spending in as little as five years, will be Calvin Klein's fast-growing market this year, CEO Tom Murry said in an interview. Sales growth will be 20 percent to 30 percent, led by jeans and men's underwear, Murry said. The company expects to open 15 freestanding stores in China this year, adding to the 100 it already has.