<PAGE>

<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 4)*

                            G-III Apparel Group, Ltd.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, $.01 par value per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   36237 H 101
                                 --------------
                                 (CUSIP Number)

Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing 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).

*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).




<PAGE>

<PAGE>

- ---------------------------                       ------------------------------
CUSIP No. 36237 H 101                13G             Page  2  of   5   Pages
- ---------------------------                       ------------------------------

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

        Morris Goldfarb
- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                   (a) [ ]
                                                   (b) [ ]
- --------------------------------------------------------------------------------
  3     SEC USE ONLY
- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

        United States
- --------------------------------------------------------------------------------
                          5     SOLE VOTING POWER
      NUMBER OF
        SHARES                  2,402,349 shares of Common Stock, par value $.01
     BENEFICIALLY      ---------------------------------------------------------
       OWNED BY           6     SHARED VOTING POWER
        EACH
      REPORTING                 None
       PERSON          ---------------------------------------------------------
        WITH              7     SOLE DISPOSITIVE POWER

                                2,402,349 shares of Common Stock, par value $.01
                       ---------------------------------------------------------
                          8     SHARED DISPOSITIVE POWER

                                None
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
        REPORTING  PERSON  2,402,349 shares which includes 364,250 shares which
        may be acquired within 60 days upon the exercise of options
- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
               36.92%
- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON*
        IN
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!

                                       -2-




<PAGE>

<PAGE>

        This Schedule 13-G reflects a statement of beneficial  ownership of
securities of the reporting person as of December 31, 1997.

Item 1(a)             Name of Issuer:

                      G-III Apparel Group, Ltd.

Item 1(b)             Address of Issuer's Principal Executive Offices:
                      345 West 37th Street
                      New York, New York  10018

Item 2(a)             Name of Person Filing:

                      See Item 1 of the cover page attached hereto

Item 2(b)             Address of Principal Business Office, or
                      if none, Residence:

                          c/o G-III Apparel Group, Ltd.
                          345 West 37th Street
                          New York, New York 10018

Item 2(c)             Citizenship:

                      See Item 4 of the cover page attached hereto

Item 2(d)             Title of Class of Securities:

                      Common Stock, par value $.01

Item 2(e)             CUSIP Number:

                      36237 H 101

Item 3                Identity of Reporting Person

                      Not Applicable

Item 4                Ownership:

               (a)    Amount beneficially owned:
                      See Item 9 of the cover page attached hereto which
                      includes 364,250 shares which may be acquired within 60
                      days upon the exercise of options. Amount does not include
                      an aggregate of 20,000 shares owned by Mr. Goldfarb
                      issuable upon the exercise of

                                       -3-




<PAGE>

<PAGE>

                      options which become exercisable  on various dates not 
                      within 60 days.

               (b)    Percent of Class:

                      See Item 11 of the cover page attached hereto.

               (c)    Number of Shares Beneficially Owned by Reporting Person

                      (i)   sole voting power: 2,402,349 shares of Common Stock,
                      par value $.01.

                      (ii)  shared voting power: None

                      (iii) sole  dispositive power:  2,402,349 shares of Common
                      Stock, par value $.01.

                      (iv)  shared dispositive power: None

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:

                      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 in the ordinary course of business and were
                      not acquired for the purpose of and do not have the effect
                      of changing or influencing the control of the issuer of
                      such securities and were not acquired in connection with
                      or as a participant in any transaction having such
                      purposes or effect.

                                       -4-




<PAGE>

<PAGE>

                                    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.

February 3, 1998

                                                   MORRIS GOLDFARB

                                                   -----------------------------
                                                   /s/ Morris Goldfarb


                                       -5-


<PAGE>