SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13G
G-III Apparel Group, Ltd.
------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 Par Value Per Share
-------------------------------------------------------------------------------
(Title of Class of Securities)
362-37H-101
------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
December 17, 2002
------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] RULE 13d-1(b)
[X] RULE 13d-1(c)
[ ] RULE 13d-1(d)
CUSIP NO. 362-37H-101 Page 2 of 11
--------------------------------------------------------------------------------
1) Name And I.R.S. Identification No. Of Reporting Person
Wynnefield Partners Small Cap Value, L.P. 13-3688497
-------------------------------------------------------------------------------
2) Check The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)[X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC Use Only
-------------------------------------------------------------------------------
4) Citizenship Or Place Of Organization: Delaware
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 134,660 Shares
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
134,660 Shares
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned By Each Reporting Person :
134,660 Shares
-------------------------------------------------------------------------------
10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
2.0% of Common Stock
-------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions) PN
-------------------------------------------------------------------------------
CUSIP NO. 362-37H-101 Page 3 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Wynnefield Partners Small Cap Value, L.P. I 13-3953291
-------------------------------------------------------------------------------
2) Check the Appropriate Box If a Member of a Group (See Instructions)
(a)
(b) [X] Reporting Person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: Delaware
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 173,172 Shares
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
173,172 Shares
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
173,172 Shares
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
2.5% of Common Stock
-------------------------------------------------------------------------------
12) Type of Reporting Person: PN
-------------------------------------------------------------------------------
CUSIP NO. 362-37H-101 Page 4 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Wynnefield Small Cap Value Offshore Fund, Ltd. (No IRS Identification No.)
-------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) [X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: Cayman Islands
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 58,500 Shares
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
58,500 Shares
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
58,500 Shares
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
0.9% of Common Stock
-------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------
CUSIP NO. 362-37H-101 Page 5 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Channel Partnership II, L.P. 22-3215653
-------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) [X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: New York
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 7,100 Shares
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
7,100 Shares
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
7,100 Shares
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
0.1% of Common Stock
-------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions) PN
-------------------------------------------------------------------------------
CUSIP NO. 362-37H-101 Page 6 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Wynnefield Capital Management, LLC 13-4018186
-------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) [X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: New York
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 307,832 Shares (1)
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
307,832 Shares(1)
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
307,832 Shares (1)
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
4.5 % of Common Stock (1)
-------------------------------------------------------------------------------
12) Type of Reporting Person: OO (Limited Liability Company)
-------------------------------------------------------------------------------
(1) Wynnefield Capital Management, LLC holds an indirect beneficial interest in
these shares which are directly beneficially owned by Wynnefield Partners Small
Cap Value, L.P. and Wynnefield Partners Small Cap Value, L.P. I.
CUSIP NO. 362-37H-101 Page 7 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Wynnefield Capital, Inc. (No IRS Identification No.)
-------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) [X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: Cayman Islands
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 58,500 Shares(1)
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
58,500 Shares(1)
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
58,500 Shares (1)
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
0.9% of Common Stock (1)
-------------------------------------------------------------------------------
12) Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------
(1) Wynnefield Capital, Inc. holds an indirect beneficial interest in these
shares which are directly beneficially owned by Wynnefield Small Cap Value
Offshore Fund, Ltd.
CUSIP NO. 362-37H-101 Page 8 of 11
--------------------------------------------------------------------------------
1) Name and I.R.S. Identification No. of Reporting Person (entities only)
Nelson Obus
-------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) [X] Reporting person is affiliated with other persons
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) Citizenship or Place of Organization: United States of America
-------------------------------------------------------------------------------
5) Sole Voting Power:
NUMBER OF SHARES 7,100 Shares(1)
BENEFICIALLY OWNED --------------------------------------------------
BY EACH REPORTING 6) Shared Voting Power
PERSON WITH --------------------------------------------------
7) Sole Dispositive Power:
7,100 Shares(1)
--------------------------------------------------
8) Shared Dispositive Power
-------------------------------------------------------------------------------
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
7,100 Shares (1)
-------------------------------------------------------------------------------
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares |_|
(See Instructions)
-------------------------------------------------------------------------------
11) Percent of Class Represented by Amount in Row (9):
0.1% of Common Stock (1)
-------------------------------------------------------------------------------
12) Type of Reporting Person: IN
-------------------------------------------------------------------------------
(1) Nelson Obus, as general partner of Channel Partnership II, L.P. holds an
indirect beneficial interest in these shares which are directly beneficially
owned by Channel Partnership II, L.P.
ITEM 1(a). Name of Issuer:
G-III Apparel Group, Ltd.
ITEM 1(b). Address of Issuer's Principal Executive Offices:
512 Seventh Avenue, New York, New York 10018
-------------------------------------------------------------------
ITEM 2(a). Names of Persons Filing:
Wynnefield Partners Small Cap Value, L.P. ("Partners")
-------------------------------------------------------------------
Wynnefield Partners Small Cap Value, L.P. I ("Partners I")
-------------------------------------------------------------------
Wynnefield Partners Small Cap Offshore Fund, Ltd. ("Fund")
-------------------------------------------------------------------
Channel Partnership II, L.P. ("Channel")
-------------------------------------------------------------------
Wynnefield Capital Management, LLC ("WCM")
-------------------------------------------------------------------
Wynnefield Capital, Inc. ("WCI")
-------------------------------------------------------------------
Nelson Obus ("Obus")
ITEM 2(b). Address of Principal Business Office Or, If None, Residence:
450 Seventh Avenue, Suite 509, New York, New York 10123
-------------------------------------------------------------------
ITEM 2(c). Citizenship:
Partners and Partners I are Delaware Limited Partnerships
-------------------------------------------------------------------
Fund and WCI are Cayman Islands Companies
-------------------------------------------------------------------
WCM is a New York Limited Liability Company
-------------------------------------------------------------------
Channel is a New York Limited Partnership
-------------------------------------------------------------------
Obus is a citizen of the United States of America
ITEM 2(d). Title of Class of Securities:
Common Stock, $.01 Par Value Per Share
-------------------------------------------------------------------
ITEM 2(e). CUSIP Number: 362-37H-101
ITEM 3. If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b)
or (c), check whether the person filing is:
None of the reporting persons is an entity specified in
Rule 13d-1(b)(1)(ii).
ITEM 4. Ownership:
(a) Amount beneficially owned by all reporting persons: 373,432
Shares
(b) Percent of class: 5.5 % of Common Stock
(c) Number of shares as to which the reporting persons have:
(i) sole power to vote or to direct the vote:
373,432 Shares
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition:
373,432 Shares
(iv) shared power to dispose or to direct the disposition
ITEM 5. Ownership of five percent or less of a class.
Not applicable.
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.
None of the reporting persons who have filed this schedule is a
person, as defined in Rule 13d-1(b)(1)(ii), promulgated pursuant to
the Securities Exchange Act of 1934.
ITEM 9. Notice of dissolution of group.
Not applicable.
ITEM 10. Certifications.
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above 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 or as a
participant in any transaction having that purpose or effect.
Dated: December 18, 2002
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
------------------------------------
Nelson Obus, Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
------------------------------------
Nelson Obus, Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: /s/ Nelson Obus
------------------------------------
Nelson Obus, President
CHANNEL PARTNERSHIP II, L.P.
By: /s/ Nelson Obus
-----------------------------------------
Nelson Obus, General Partner
/s/ Nelson Obus
----------------------------------------------
Nelson Obus, Individually
WYNNEFIELD CAPITAL MANAGEMENT, LLC
By: /s/ Nelson Obus
-----------------------------------------
Nelson Obus, Managing Member
WYNNEFIELD CAPITAL, INC.
By: /s/ Nelson Obus
-----------------------------------------
Nelson Obus, President