Authentic Brands Group completes transaction to take Guess private
Authentic Brands Group has announced that it has completed a transaction to take Guess private.
The owner of Ted Baker now holds 51% of the fashion brand’s intellectual property while Guess co-founders Maurice Marciano and Paul Marciano, along with Nicolai Marciano and Guess chief executive Carlos Alberini, own 49%.
Subscribe to TRBWith $6 billion in global retail equivalent sales, the brand is now Authentic’s second largest brand.
Under the new ownership structure, management now owns 100% of the operating company and will continue to lead the business.
Meanwhile, Guess’s operations in Switzerland will continue to serve as a central hub guiding the global strategic and commercial direction across design, creative and distribution.
Jamie Salter, founder, chairman and chief executive of Authentic, said: “What makes Guess compelling is the strength of the foundation already in place, from its exceptional leadership and iconic heritage to its vast network of licensing partners around the world.
“Guess is one of the rare global brands that has built extraordinary awareness and continued to evolve while staying true to its DNA. The brand’s legacy and the perseverance behind it are a true credit to Paul, Maurice and the entire Guess team, and we’re honoured to partner with them to accelerate this next phase of growth.”
Alberini said: “We see significant potential to enhance the customer experience, strengthen our brand partnerships and elevate our industry leadership in this new chapter as a private company.
“With Authentic’s support, Guess will have enhanced flexibility and additional resources to unlock new growth opportunities for our business on the path ahead. I am very excited to work with Authentic, Paul, Maurice, Nicolai and our entire team to accelerate our momentum and pursue the optimisation of our model with creativity, passion and innovation.”
