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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
G-III Apparel Group Ltd.
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(NAME OF ISSUER)
Common Stock, Par Value $.01 Per Share
--------------------------------------
(TITLE OF CLASS OF SECURITIES)
36237H101
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(CUSIP NUMBER)
Joshua Landes, Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza, Suite 4720, New York, New York 10119, (212) 760-0814
and
Jesse R. Meer, Esq.
Berlack, Israels & Liberman, LLP,
120 West 45th Street, New York, N.Y. 10036, (212) 704-0100
------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER
OF PERSONS AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
November 19, 1996
-------------------------------------------------------
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-I(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [x] (A fee is
not required only if the reporting person (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
(Page 1 of 6 Pages)
SCHEDULE 13D
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CUSIP NO. 36237H101 PAGE 2 OF 6 PAGES
- -------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: WYNNEFIELD PARTNERS SMALL CAP VALUE, L. P.
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON: 13-3688497
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS (2)(d) OR (e) [ ]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
NUMBER OF 337,780
SHARES --------------------------------------
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------
8 SHARED VOTING POWER
NONE
--------------------------------------
9 SOLE DISPOSITIVE POWER
337,780
--------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
337,780 SHARES
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.223
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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(Page 2 of 6 Pages)
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CUSIP NO. 36237H101 PAGE 3 OF 6 PAGES
- -------------------- ------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON: CHANNEL PARTNERSHIP II
S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON: 22-3215653
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS (2)(d) OR (e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 15,100
SHARES --------------------------------------
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------
8 SHARED VOTING POWER
NONE
--------------------------------------
9 SOLE DISPOSITIVE POWER
15,100
--------------------------------------
10 SHARED DISPOSITIVE POWER
NONE
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,100 SHARES
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.223
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14 TYPE OF REPORTING PERSON
PN
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(Page 3 of 6 Pages)
SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of the common stock, par value $.001 per
share, of G-III Apparel Group Ltd. (the "Issuer"). The Issuer's principal
executive offices are located at 345 West 37th Street, New York, New York 10018.
ITEM 2. IDENTITY AND BACKGROUND.
This statement is being filed by Wynnefield Partners Small Cap Value, L.P.,
a limited partnership formed under the laws of the State of Delaware (the
"Partnership") on behalf of the partnership and Channel Partnership II, another
partnership ("Channel"), which owns 15,100 shares of the Issuer. The principal
business of the Partnership is investments, and the address of its principal
offices is One Penn Plaza, Suite 4720, New York, New York 10119.
Nelson Obus and Joshua Landes are the general partners of the Partnership,
and their principal business address is the same as the Partnership's. The
principal occupations of Messrs. Obus and Landes are acting as the general
partners and managing investments of the Partnership. Mr. Obus is also the
general partner of Channel.
During the past five years, neither the Partnership, Channel, Mr. Obus nor
Mr. Landes (a) has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (b) has been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction, as a
result of which it or he was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Messrs. Obus and Landes are citizens of the United States.
ITEM 3. SOURCE AND AMOUNT OF FUND OR OTHER CONSIDERATION.
337,780 shares of the Issuer were purchased by the Partnership for cash
aggregating $984,901.32 including commissions. The cash was provided from the
working capital of the Partnership. 15,100 shares of the Issuer were purchased
by Channel for cash of $41,336.25 which was provided from its working capital.
ITEM 4. PURPOSE OF TRANSACTION.
All 352,880 shares were purchased for the purpose of investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The Partnership owns 337,780 shares, and Channel owns 15,100 shares, of the
common stock of the Issuer (together, the "Securities"). The Securities
represent approximately 5.456% of the common stock of the Issuer outstanding as
of July 31, 1996, based on the Issuer's most recent quarterly report on Form
10-Q.
Messrs. Obus and Landes, the general partners of the Partnership, have the
sole power to vote, or to direct the vote, or to direct the sale or other
disposition of, the Securities held by the Partnership. Messrs. Obus and Landes,
as the general partners of the Partnership, have the sole power to receive or to
direct the receipt of the proceeds from the sale of the Securities, or any
dividends paid with respect to the Securities held by the Partnership. Mr. Obus
has such powers with respect to the Securities held by Channel.
The Partnership purchased the Securities as set forth in the following
table:
(Page 4 of 6 Pages)
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NUMBER OF SHARES PURCHASE
DATE OF PURCHASE PURCHASED PRICE
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April 26, 1996 9,000 $28,575.00
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April 29, 1996 15,000 47,625.00
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May 2, 1996 7,500 23,812.50
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May 3, 1996 13,000 41,275.00
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May 9, 1996 4,000 12,700.00
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May 10, 1996 3,000 9,525.00
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May 28, 1996 10,500 32,025.00
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May 29, 1996 7,000 21,350.00
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June 20, 1996 5,000 14,625.00
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June 27, 1996 3,000 8,775.00
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July 10, 1996 22,000 64,350.00
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July 11, 1996 20,000 58,700.00
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July 16, 1996 10,000 25,600.00
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July 25, 1996 7,500 19,125.00
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July 29, 1996 2,500 6,375.00
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September 12, 1996 20,000 57,500.00
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September 16, 1996 5,000 14,375.00
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September 19, 1996 5,000 14,375.00
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September 27, 1996 `10,000 28,750.00
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September 30, 1996 10,000 28,750.00
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October 3, 1996 12,700 34,290.00
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October 8, 1996 3,500 9,213.00
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October 11, 1996 12,000 32,340.00
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October 14, 1996 3,000 8,055.00
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October 16, 1996 5,300 14,230.00
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October 17, 1996 800 2,148.00
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October 18, 1996 10,000 25,313.00
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October 23, 1996 15,880 45,258.00
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(Page 5 of 6 Pages)
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NUMBER OF SHARES PURCHASE
DATE OF PURCHASE PURCHASED PRICE
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October 30, 1996 3,000 8,400.00
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November 1, 1996 8,000 21,920.00
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November 5, 1996 5,100 13,961.25
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November 13, 1996 10,300 30,230.50
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November 14, 1996 4,200 12,503.62
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November 18, 1996 27,500 85,250.00
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November 19, 1996 27,500 83,600.00
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TOTAL 337,780 $984,901.32
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Channel purchased its 15,100 shares on October 29, 1996 for $41,336.25.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Neither the Partnership, Channel, Mr. Obus nor Mr. Landes has any
contracts, arrangements, understandings or relationships (legal or otherwise)
with respect to the Securities. None of the Securities is pledged or otherwise
subject to a contingency, the occurrence of which would give another person
voting or investment power over the Securities.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
November 21, 1996
- -------------------------
(Date)
WYNNEFIELD PARTNERS SMALL
CAP VALUE, L.P.
By: /s/ NELSON OBUS
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(Signature)
Nelson Obus General Partner
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(Name/Title)
(Page 6 of 6 Pages)