Authentic Brands Group and Guess have officially completed a transaction to take the fashion label private. Under the new structure, Authentic owns 51% of the intellectual property while existing shareholders hold the remaining 49%.
The group of rolling shareholders includes Maurice Marciano, Paul Marciano, Nicolai Marciano, and Carlos Alberini. Guess management now owns 100% of the operating company and will continue to lead the business.
The company will maintain its operations in Switzerland to oversee global strategy, design, and distribution. Guess generates £6bn in annual retail sales, making it the second-largest brand in the Authentic portfolio.
The acquisition brings total annual retail sales for Authentic to £38bn globally. The company plans to use its platform to support geographic expansion and develop new content and live experiences for consumers.
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.”
Paul Marciano, co-founder and chief creative officer of Guess, said: “Guess? has become a worldwide leader in fashion, and joining Authentic’s outstanding platform, portfolio and track record of success will enable us to build on this incredible foundation and take our brand to the next level.”
Matt Maddox, president of Authentic, said: “Through Authentic’s proven brand-building platform, Guess? will gain access to opportunities and environments where consumers have yet to experience the brand.”
Carlos Alberini, chief executive of Guess, added: “With Authentic’s support, Guess? will have enhanced flexibility and additional resources to unlock new growth opportunities for our business on the path ahead.”
