Guess?, Inc. Appoints Andrew Rosen as Executive Chair of rag & bone

Rhea-AI Summary

Guess? (NYSE: GES) has announced the appointment of Andrew Rosen as Executive Chair of the rag & bone brand. This follows the acquisition of rag & bone by Guess? and WHP Global. Rosen, with over 40 years in the fashion industry, will provide strategic direction and oversight. He will work alongside Guess? executives Paul Marciano and Carlos Alberini, and WHP Global CEO Yehuda Shmidman. Rosen's extensive experience includes co-founding Theory and investing in brands like Alice + Olivia. This move aims to expand rag & bone's global reach and enhance its product offerings.

Positive

• Appointment of Andrew Rosen with over 40 years of fashion industry experience.
• Strategic direction expected to enhance rag & bone's global reach.
• Andrew Rosen's extensive background includes co-founding Theory and investing in leading fashion brands.
• Guess? and WHP Global's acquisition of rag & bone provides a solid platform for growth.
• Collaborative effort with Guess? executives and WHP Global CEO Yehuda Shmidman.

Negative

• No specific financial data provided regarding the acquisition's impact on Guess?'s earnings.
• Potential risk if Andrew Rosen's strategic direction does not align with market trends.
• Integration challenges between Guess? and rag & bone could arise.

LOS ANGELES--(BUSINESS WIRE)-- Guess?, Inc. (NYSE: GES) today announced the appointment of Andrew Rosen as Executive Chair of the rag & bone brand.

As previously announced, Guess? and global brand management firm WHP Global recently completed the acquisition of New York-based fashion brand rag & bone, which operates as an independent brand within the Guess? portfolio. Guess? owns all of the rag & bone operating assets, and Guess? and WHP Global jointly own the rag & bone intellectual property.

In his role as Executive Chairman, Andrew Rosen will continue to bring a wealth of experience and expertise to the brand, providing strategic direction and oversight of the rag & bone executive team, to drive the company's mission forward. In this work, Andrew will partner closely with Paul Marciano and Carlos Alberini, as well as Yehuda Shmidman, WHP Global Chairman and CEO. With Andrew’s unparalleled industry knowledge and proven leadership skills, he will play a pivotal role in shaping the future of rag & bone.

As a visionary leader in American fashion, Andrew follows his father and grandfather’s footsteps in the industry with more than four decades of experience driving innovation and growth in both emerging and well-established fashion brands. Following an early career at Calvin Klein, he co-founded Theory in 1997 and oversaw the company’s growth as CEO for over 20 years. Today he remains an active investor and mentor to many leading American fashion brands, some of which include Alice + Olivia, Veronica Beard and TWP, which successfully launched three years ago.

Paul Marciano, Guess? Co-Founder and Chief Creative Officer, said: “It’s an exciting time for both Guess? and rag & bone as we embark on the next chapter of growth, and I believe Andrew is the ideal person to continue to lead and represent the rag & bone brand on this journey. I couldn’t be more excited to work with Andrew in this great opportunity together. As we look to the future, our focus is on delivering the authentic and high-quality rag & bone collections customers have come to know and love, while extending its reach to even more people around the world.”

Carlos Alberini, Guess? Chief Executive Officer, commented: “Andrew knows our business and industry exceptionally well, and as a true visionary and pioneer in fashion has paved the way for many other founders, designers and entrepreneurs to succeed and grow in today’s evolving and increasingly digital environment. Paul and I are pleased that Andrew has joined us as a fellow shareholder of Guess?. I am thrilled for Andrew to be a part of the Guess? family and look forward to a strong partnership on the path ahead as we focus on driving value for our stakeholders.”

Andrew Rosen, rag & bone Executive Chair, said: “I have been involved with rag & bone since 2006. I have always been passionate about our brand and the opportunities that lie ahead. This new relationship now cements that ambition by providing an incredible platform for us to leverage our potential globally. Our executive team and I are excited to embark on this journey with Paul, Carlos, the entire Guess? organization, as well as with Yehuda and WHP Global. The passion and opportunities they are bringing to this acquisition are exciting for all of us involved. I am confident that as part of the Guess? portfolio, rag & bone is well-positioned to build on our success, deliver even greater collections to our customers, and provide our team members with new opportunities for years to come.”

About GUESS?, Inc.

Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, eyewear, footwear and other related consumer products. Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world. At February 3, 2024, the Company directly operated 1,002 retail stores in Europe, the Americas and Asia. The Company’s partners and distributors operated 551 additional retail stores worldwide. At February 3, 2024, the Company and its partners and distributors operated in approximately 100 countries worldwide. On April 2, 2024, the Company acquired all the operating assets and a 50% interest in the intellectual property assets of New York-based fashion brand rag & bone, a leader in the American fashion scene, directly operating stores in the U.S. and in the U.K., and also available in high-end boutiques, department stores and through e-commerce globally. For more information about the Company, please visit www.guess.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240527324318/en/

Guess?, Inc.

Investor Relations

Fabrice Benarouche

Senior Vice President Finance, Investor Relations and Chief Accounting Officer

(213) 765-5578

ir@guess.com

Source: Guess?, Inc.

FAQ

Who is the new Executive Chair of rag & bone?

Andrew Rosen has been appointed as the new Executive Chair of rag & bone.

What recent acquisition did Guess? complete?

Guess? recently completed the acquisition of the New York-based fashion brand rag & bone.

What will Andrew Rosen's role entail at rag & bone?

Andrew Rosen will provide strategic direction and oversight for the rag & bone brand.

With whom will Andrew Rosen collaborate at Guess?

Andrew Rosen will work closely with Guess? executives Paul Marciano and Carlos Alberini, and WHP Global CEO Yehuda Shmidman.

What is the stock symbol for Guess?

The stock symbol for Guess? is GES.