Billion-Dollar Threads: How Morris Goldfarb Stitched Together a Fashion Empire
Show notes
In this episode of Big Shot, we sit down with the Chairman of the Board and Chief Executive Officer of G-III Apparel Group, Morris Goldfarb. Morris took over running his father’s company at the age of 24. His journey is deeply rooted in the inspiring legacy of his father, Aron Goldfarb, a Holocaust survivor who immigrated to the U.S. and founded G-III in 1956. Morris has transformed the company from a small women's leather outerwear business into a global fashion powerhouse, managing brands like DKNY, Calvin Klein, and Tommy Hilfiger. In our conversation today, talk about:
The emotional impact of being the son of a Holocaust survivor
Morris’s strategies for growing the family business and taking it public
The setbacks G-III faced in 1995 and how Morris was able to successfully pivot the business
Brand acquisitions and licensing that became the bread and butter of G-III
Morris’s life outside work, including family and philanthropic accomplishments
And much more!
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In This Episode We Cover:
(01:50) Morris’s childhood in Israel and New York
(04:42) Morris’s dad, Aron Goldfarb’s memoir about the Holocaust, Maybe You Will Survive
(08:54) How Morris was affected by the Holocaust survival stories of his family and friends
(10:20) Aron Goldfarb’s clothing business and why he wanted Morris to get a city job
(12:36) How Morris took over the family business at the age of 24
(14:30) Morris’s ambition and early years expanding G&N Sportswear
(16:05) Morris’s consulting and building factories in South Korea
(19:59) G-III’s journey to going public
(22:40) Why Morris had to pivot the business in 1995 and move towards licensing
(31:50) The current state of G-III
(32:52) How Morris fought nepotism working at his father’s company
(34:17) Acquisitions that grew G-III
(38:18) An explanation of how licensing works at G-III
(40:18) The pitfalls of direct to consumer businesses
(42:26) Morris’s thoughts on licensing vs. owning brands
(43:24) Morris’s partnership with Carl Banks
(46:30) Morris’s family life and what it’s like working with his son
(50:53) Why G-III is not a great fit for most emerging brands
(52:50) What made Morris finally feel like he’d made it
(54:29) What chutzpah means to Morris
(54:55) Morris’s philosophy on giving back and why he built a Jewish cemetery in Poland
(59:18) Why Jews have made so many contributions to business, science, and academia
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Where to find Morris Goldfarb:
Website: https://ir.giii.com/management/morris-goldfarb
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