Guess flagship store in Rome, Italy. Credits: Guess. Authentic Brands Group has finalised its acquisition of a majority stake in Guess, taking the American brand private after a deal with existing shareholders was approved. The 1.4 billion dollar transaction, initially announced in August last year, sees Authentic secure a 51 percent stake in Guess’ intellectual property. The brand’s existing Rolling Stockholders – Maurice Marciano, Paul Marciano, Nicolai Marciano and Carlos Alberini – alongside their respective trusts, foundations and affiliates maintain the remaining 49 percent. Guess’ management now owns 100 percent of the operating company, which will continue to run from a central hub in Switzerland. Here, a team will oversee global strategic and commercial direction across design, creative and distribution. In a statement, Jamie Salter, founder, chairman and CEO of Authentic, called Guess a “rare global brand” that has “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,” Salter said. The brand’s CEO, Carlos Alberini, added that as a private company, there was “significant potential to enhance the customer experience, strengthen our brand partnerships and elevate our industry leadership”. Alberini continued: “With Authentic’s support, Guess will have enhanced flexibility and additional resources to unlock new growth opportunities for our business on the path ahead.” Authentic beat out WHP Global LLC in the race for Guess last…
