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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
G-III Apparel Group, Ltd.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
36237H101
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(CUSIP Number)
December 31, 2008
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(Date Of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Persons who respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB control
number.
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1. NAME OF REPORTING PERSON:
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Independence Investments LLC
I.R.S. #20-4633033
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) [ ]
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3. SEC USE ONLY:
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4. CITIZENSHIP OR PLACE OF ORGANIZATION:
The state of organization is Delaware.
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NUMBER OF 5. SOLE VOTING POWER:
SHARES 293,700
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6. SHARED VOTING POWER:
EACH 0
REPORTING --------------------------------------------------------------
PERSON 7. SOLE DISPOSITIVE POWER:
WITH: 293,700
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8. SHARED DISPOSITIVE POWER:
0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
293,700
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
1.776%
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12. TYPE OF REPORTING PERSON:
IA
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Item 1. (a) Name of Issuer:
G-III Apparel Group, Ltd.
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(b) Address of Issuer's Principal Executive Offices:
512 Seventh Avenue, New York, NY 10018
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Item 2. (a) Name of Person Filing:
Independence Investments LLC
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(b) Address of Principal Business Office, or if None, Residence:
160 Federal Street, Boston, MA 02110
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(c) Citizenship:
The state of organization is Delaware
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(d) Title of Class of Securities:
Common Stock
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(e) CUSIP Number:
36237H101
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Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [x] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with Section 13d-1(b)(1)(ii)(J).
Item 4. Ownership as of December 31, 2008
(a) Amount beneficially owned: 293,700
(b) Percent of Class: 1.776%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
293,700
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
293,700
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5. Ownership of Five Percent or Less of a Class.
As of the date hereof, Independence Investments LLC has ceased
to be the beneficial owner of more than five percent of the
class of securities.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Not Applicable
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect.
Signature.
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.
Date: January 29, 2009
Signature: /s/ Mark C. Lapman
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Name/Title: Mark C. Lapman, President and CEO
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Independence Investments LLC