Guess?, Inc. designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. It operates through five segments: Americas Retail, Americas Wholesale, Europe, Asia, and Licensing. The company's clothing collection includes jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, activewear, knitwear, and intimate apparel. It also grants licenses to design, manufacture, and distribute various products that complement its apparel lines, such as eyewear, watches, handbags, footwear, kids' and infants' apparel, outerwear, fragrance, jewelry, and other fashion accessories, as well as to wholesale partners to operate and sell products through licensed retail stores. The company markets its products under the GUESS, GUESS?, GUESS U.S.A., GUESS Jeans, GUESS? and Triangle Design, MARCIANO, Question Mark and Triangle Design, a stylized G and a stylized M, GUESS Kids, Baby GUESS, YES, G by GUESS, GUESS by MARCIANO, and Gc brand names. It sells its products through direct-to-consumer, wholesale, and licensing distribution channels. As of January 29, 2022, the company directly operated 1,068 retail stores in the Americas, Europe, and Asia. Its partner's distributors operated an additional 563 retail stores worldwide. The company also offers its products through its retail websites. Guess?, Inc. was founded in 1981 and is headquartered in Los Angeles, California.
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1. Like Calvin Klein or Tommy Hilfiger, but with a distinct, more overtly glamorous and fashion-forward American denim aesthetic.
2. Imagine Levi's evolving into a more fashion-oriented, global lifestyle brand with a glamorous, aspirational appeal.
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- Apparel: Fashion clothing for men, women, and children, including denim jeans, dresses, tops, and outerwear.
- Accessories: A diverse range of fashion items such as handbags, watches, eyewear, jewelry, and belts.
- Footwear: Shoes, boots, and sandals designed for men and women to complement their apparel collections.
- Fragrances: A collection of perfumes and colognes developed under license, reflecting the brand's distinctive style.
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Guess (symbol: GES) primarily sells its products directly to individuals through its extensive network of company-operated retail stores and e-commerce platforms. While the company does engage in wholesale distribution to other retailers, the majority of its revenue is derived from these direct-to-consumer channels.
Based on its primary sales to individuals, Guess serves the following categories of customers:
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Fashion-Forward Young Adults and Millennials: This core demographic is attracted to Guess's contemporary, often bold and trend-setting apparel, denim, and accessories. These customers seek stylish and aspirational fashion pieces that reflect a "sexy, adventurous, and glamorous" brand image, keeping up with current trends.
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Value-Oriented Shoppers: A significant portion of Guess's retail footprint includes outlet stores. This customer segment is drawn to the Guess brand but seeks more accessible price points, often purchasing previous season styles or made-for-outlet merchandise at a discount. They appreciate brand-name fashion but are more price-sensitive.
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Global Consumers with Regional Preferences: Guess has a strong international presence, particularly in Europe and Asia. While maintaining its core brand identity, Guess adapts its product offerings and marketing to cater to the diverse tastes, body types, and cultural preferences of consumers in different geographic regions, appealing to a broad international audience.
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Carlos Alberini, Chief Executive Officer and Director
Mr. Carlos Alberini has served as the Chief Executive Officer and Director of Guess?, Inc. since February 2019. Prior to rejoining Guess?, he was the Chairman and Chief Executive Officer of Lucky Brand from February 2014 to February 2019. He also served as the Co-Chief Executive Officer of Restoration Hardware Holdings Inc. from June 2010 to October 2012, and as its sole Chief Executive Officer from October 2012 to July 2013. Mr. Alberini previously held the role of President and Chief Operating Officer at Guess? from December 2000 to June 2010. His past experience also includes serving as Chief Financial Officer and Senior Vice President of Footstar Inc. from October 1996 to December 2000, and as Acting Chief Financial Officer and Vice President of Finance for the Melville Corporation from May 1995 to October 1996. He has been at the helm of 6 different companies throughout his career.
Alberto Toni, Chief Financial Officer
Mr. Alberto Toni assumed the role of Chief Financial Officer of Guess?, Inc. in June 2025. Before joining Guess?, he held the position of Chief Financial Officer at Flos B&B Italia Group S.p.A. Additionally, Mr. Toni previously served as Chief Financial Officer for Bata SA and Deoleo SA.
Alex Yemenidjian, Chairman
Mr. Alex Yemenidjian has served as the Chairman of Guess?, Inc. since 2020. His prior roles include Chairman and Chief Executive Officer of Oshidori International Development LTD from June 2020 to September 2022, and Chairman and Chief Executive Officer of Armenco Holdings, LLC from January 2005 to June 2020. He also served as Chairman and Chief Executive Officer of Tropicana Las Vegas Hotel & Casino, Inc. from July 2009 to August 2015. Earlier in his career, he was Chairman and Chief Executive Officer of Metro-Goldwyn-Mayer Inc. from April 1999 to April 2005, and President of MGM Resorts International, Inc. from 1995 to 1999.
Paul Marciano, Chief Creative Officer and Director
Mr. Paul Marciano has been the Chief Creative Officer and a Director of Guess?, Inc. since August 2015. He previously served as the Chairman of the company from August 2015 to June 2018, and as Chief Executive Officer and Vice Chairman from 2007 to 2015. Mr. Marciano also held the positions of Co-Chairman and Co-Chief Executive Officer of Guess? from 1999 to 2007.
Fabrice Benarouche, Chief Accounting Officer; Senior Vice President - Finance and Investor Relations
Mr. Fabrice Benarouche has been the Senior Vice President of Finance, Investor Relations, and Chief Accounting Officer of Guess?, Inc. since April 2023. Prior to this role, he was the Vice President of Finance and Investor Relations from 2014 to April 2023. Earlier in his career, Mr. Benarouche worked as a Manager at Ineum Consulting (Deloitte Consulting) in France.
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One clear emerging threat to Guess (GES) is the continued and rapid expansion of ultra-fast fashion and direct-to-consumer e-commerce aggregators such as Shein and Temu. These platforms leverage highly agile supply chains, data-driven trend identification, and aggressive digital marketing to offer an unprecedented volume of new styles at extremely low price points, often mirroring current fashion trends almost instantly. This model fundamentally disrupts traditional seasonal fashion cycles and captures significant market share, particularly among younger demographics who prioritize novelty and affordability, directly competing with Guess's offerings.
Another emerging threat is a discernible shift in consumer preferences, particularly among fashion-conscious younger generations, towards a "quiet luxury" or unbranded aesthetic. Guess has historically built its brand identity around prominent logos and distinctive branding. However, a growing segment of the market is increasingly opting for minimalist, logo-free, or subtly branded items. If this trend continues to strengthen, it could erode the appeal of Guess's signature design elements and reduce demand for its core product categories.
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Guess?, Inc. (GES) operates within several addressable markets for its main products and services, including apparel, denim, footwear, and fashion accessories. The market sizes for these product categories vary by region.
Apparel
- Global: The global apparel market was valued at approximately $1.84 trillion in 2025. Other estimates placed the global apparel market size at USD 1.77 trillion in 2024, with projections to reach USD 2.26 trillion by 2030. Another report valued it at USD 1,749.67 billion in 2024, anticipating growth to USD 2,307.04 billion by 2032.
- U.S.: The United States apparel market is estimated at $365.70 billion.
- Europe: The apparel market in Europe was valued at USD 375.98 billion in 2024 and is projected to grow to USD 538.38 billion by 2033. Another source indicated the European apparel market was valued at EUR 483 billion in 2023. The EU's textile and apparel consumption reached €415 billion in 2022.
Denim (a significant part of apparel for Guess)
- Global: The global denim market was valued at USD 71.14 billion in 2024 and is expected to reach USD 119.51 billion by 2032. Another report estimated the global denim market at USD 71.12 billion in 2024, with a projection to reach USD 132.40 billion by 2035. Focusing specifically on denim jeans, the global market was estimated at USD 86.66 billion in 2024 and is projected to reach USD 121.50 billion by 2030.
- North America: The North American denim market was valued at USD 29.0 billion in 2024 and is projected to grow to USD 39.0 billion by 2035. The North America denim jeans market accounted for 31.2% of the global revenue share in 2024.
- Europe: The European denim market was valued at USD 22.0 billion in 2024, with projections to reach USD 30.0 billion by 2035. Europe is anticipated to capture approximately 30% of the global denim market by 2030.
Footwear
- Global: The global footwear market was valued at USD 463.87 billion in 2024 and is projected to reach USD 789.52 billion by 2032. Other estimates include a market size of USD 700.90 billion in 2024, expected to reach USD 1100.38 billion by 2032.
- North America: The North America footwear market was valued at USD 64.27 billion in 2024 and is expected to reach USD 98.63 billion by 2032. Another report indicated the North America footwear market was USD 97.00 billion in 2023 and is expected to reach USD 122.87 billion by 2030.
- Europe: The footwear market in Europe was valued at USD 124.10 billion in 2024 and is estimated to reach USD 218.39 billion by 2033. Other data points show the European footwear market generated a revenue of USD 92,520.0 million in 2023.
Fashion Accessories (including handbags, watches, jewelry, eyewear)
- Global: The global fashion accessories market was estimated at USD 798.81 billion in 2024 and is projected to reach USD 1259.43 billion by 2030. Another source indicated a valuation of USD 1,079.60 billion in 2024, with expectations to grow to USD 1,876.72 billion by 2032.
- North America: The North America fashion accessories market generated a revenue of USD 283,005.2 million in 2024 and is expected to reach USD 440,802.5 million by 2030. Another estimate placed the North American market at USD 287.89 billion in 2024, with projections to reach US$ 554.28 billion by 2033.
- Europe: The Europe fashion accessories market generated a revenue of USD 236,676.8 million in 2024 and is expected to reach USD 375,311.8 million by 2030. Another report valued the European fashion accessories market at USD 665.58 billion in 2025, with a projection to reach USD 873.65 billion by 2030.
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Expected Drivers of Future Revenue Growth for Guess (GES)
Over the next 2-3 years, Guess (GES) anticipates several key drivers to fuel its revenue growth, as outlined in recent company statements and analyst reports:
- Strategic Acquisitions and Brand Portfolio Expansion: The acquisition of rag & bone is a significant contributor to Guess's projected revenue growth. The full-year contribution of rag & bone, which has outperformed expectations with strong wholesale shipments, is expected to drive top-line growth. Furthermore, Guess is expanding its brand portfolio with initiatives like the launch of Guess Jeans, targeting the Gen Z market, and the expanded distribution of its athleisure product line. This diversification is aimed at reducing reliance on any single brand and opening new revenue streams.
- Global Footprint Expansion and Market Penetration: Guess is focused on extending its global reach by optimizing the productivity and profitability of its current operations and expanding into new geographic markets and distribution channels. Notably, the company is expanding the Guess brand in India with 22 new stores and has formed a new joint venture with the Chalhoub Group for expansion in the Middle East. The company's European business has been a strong performer, driving revenue growth through comparable store sales and wholesale operations.
- Enhanced Brand Relevance and Customer Centricity: Guess aims to boost brand relevance by optimizing its brand architecture to resonate with diverse consumer groups, including Heritage, Millennials, and Generation Z. This involves celebrity and influencer partnerships and collaborations to engage with a younger and broader audience. The company is also implementing a customer-centric approach, focusing on providing a seamless omni-channel experience through improved processes and platforms. Initiatives include a new customer loyalty program in Europe, which has shown significant revenue increases among members in pilot markets.
- Product Excellence and Optimized Offerings: A core part of Guess's strategy involves extending its product offerings to cater to different occasions and lifestyles, and better addressing local product needs. The company is undertaking a brand-elevation strategy, which includes enhancing product quality, visual merchandising, and the overall customer shopping experience both in stores and online. Efforts are also being made to streamline product assortments and optimize pricing.
- Operational Efficiencies and Business Optimization: Guess is committed to driving material operational improvements, particularly in areas such as logistics, sourcing, product development, production, and inventory management. The company is converting its U.S. distribution center operations to a third-party provider, which is expected to positively impact its cost structure. Strategic moves to streamline operations, including exiting unprofitable stores and optimizing its portfolios in China and North America, are designed to strengthen margins and unlock additional operating profit. Guess aims to unlock approximately $30 million in additional profits by fiscal year 2027 through business optimization.
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Share Repurchases
- In April 2024, Guess? Inc. authorized a new share repurchase program of up to $200 million of its common stock.
- As part of this new program, in April 2024, the company repurchased 326,429 shares for $10.3 million through a convertible bond exchange transaction.
- Through June 24, 2022, Guess? repurchased a total of 9.0 million shares for $186.7 million, including a $175.0 million accelerated share repurchase program.
Share Issuance
- Guess? Inc. has not reported significant share issuances for capital raising purposes in the last 3-5 years, with fluctuations in outstanding shares primarily driven by share repurchases.
- The company issues shares related to outstanding Company Equity Awards, Convertible Notes, Convertible Hedge Call Options, and Convertible Hedge Warrants in the ordinary course of business.
Inbound Investments
- In August 2025, Guess? Inc. announced a definitive agreement for a strategic partnership with Authentic Brands Group LLC, where Authentic Brands Group will acquire 51% of substantially all Guess? intellectual property.
- This transaction is part of a take-private deal valued at approximately $1.4 billion, where shareholders will receive $16.75 per share in cash.
- The transaction is expected to close in the fourth quarter of the company's fiscal year 2026.
Outbound Investments
- Fiscal year 2025 revenue growth was primarily driven by Guess?'s 50% stake in the rag & bone acquisition.
- The company is making strategic investments in digital infrastructure, store optimization, and brand development, including the launch of GUESS JEANS.
- Capital expenditures in Q1 2025 included the acquisition of certain assets in Chile and Peru.
Capital Expenditures
- Guess?'s latest twelve months capital expenditures amounted to $87.998 million.
- Capital expenditures for fiscal year 2025 were $86.089 million, representing a 16.0% increase from the prior year.
- For Q1 2025, capital expenditures were approximately $20 million, primarily focused on store remodels, technology, and the acquisition of assets in Chile and Peru.
