G-III Apparel Group Ltd. is in a joint venture with Karl Lagerfeld's parent company to help develop the designer's brand in the North American market.

The joint venture will have access to the Karl Lagerfeld brand for consumer products and clothing in the U.S. and Canada. The agreement does not include eyewear, fragrances, cosmetics, watches, jewelry or hospitality services, which remain exclusively with Karl Lagerfeld Group BV.

The joint venture also has an exclusive license to use the Karl Lagerfeld brand for consumer products and clothing in Mexico.

G-III, which has a 49 percent stake in the joint venture, has received a five-year license for women's clothing, women's handbags and men's outwear. The license has two renewals of five years each.

The joint venture expects to give G-III and possibly other companies licenses for additional product categories over time.

G-III is based in New York.