Fashion
US’ Guess? to go private in $1.4 bn deal with Authentic Brands
Guess?, Inc. (NYSE: GES) announced it has signed a definitive agreement for certain existing Guess? shareholders (collectively, the “Rolling Stockholders”), including Maurice Marciano, Paul Marciano, Nicolai Marciano, and Carlos Alberini and certain of their respective trusts, foundations and affiliates, to enter into a strategic partnership with Authentic Brands Group LLC (“Authentic”), under which, in connection with the take-private transaction, Authentic will acquire 51% of substantially all Guess? intellectual property after which all of the outstanding common stock of Guess? not already beneficially owned by the Rolling Stockholders will be acquired in an all-cash transaction that values Guess? at approximately $1.4 billion, including debt. The Rolling Stockholders will own 49% of all Guess? intellectual property, and current Guess? management will continue to run the business and own 100% of the operating company.
Guess?, Inc will go private in a $1.4 billion deal with Authentic Brands Group, which will acquire 51 per cent of Guess? IP.
Rolling Stockholders, including the Marcianos and CEO Carlos Alberini, will hold 49 per cent of the IP while management retains 100 per cent of operations.
Shareholders get $16.75/share cash, a 73 per cent premium.
Deal expected to close in FY26 Q4, subject to approvals.
Under the terms of the agreement, Guess? shareholders (other than the Rolling Stockholders) will receive $16.75 per share in cash, representing a premium of approximately 73% to Guess?’s unaffected closing common stock price on March 14, 2025, the last trading day prior to Guess?’s press release announcing its receipt of a non-binding acquisition proposal from a third party.
“Today’s announcement is the result of a thoughtful and independent review by the Special Committee of the Guess? Board of Directors to maximize value for Guess? shareholders,” said Alex Yemenidjian, Chairman of the Guess? Board of Directors and Chairman of the Special Committee. “With the assistance of financial and legal advisors, the Special Committee evaluated a number of potential options and unanimously determined that the transaction with Authentic and the Rolling Stockholders is the best path forward for Guess?, providing Guess? shareholders with immediate and certain cash value at a compelling premium.”
“Over our 44-year history, Guess? has established itself as a global leader in the fashion industry, and today marks another significant milestone on our journey,” said Paul Marciano, Guess? Co-Founder and Chief Creative Officer. “Guess? has always worked to create a strong network of licensing partners, and joining forces with Authentic – the world’s second largest licensor with a powerful lifestyle and entertainment platform – will enable us to build on this foundation and expand our reach as a global lifestyle brand. Guess?’s incredible legacy is a direct result of our unparalleled understanding of our customers and commitment to creating innovative and iconic designs that stand the test of time. I am grateful to our world-class team members and partners and look forward to continuing to work closely with Carlos and our talented leaders in this new chapter.”
“Through this transaction, we look forward to building on the significant progress we have made to strengthen our organization, improve brand awareness and elevate customer engagement,” said Carlos Alberini, Guess? Chief Executive Officer. “As a private company benefiting from the perspectives of a globally recognized licensing partner, Guess? will have enhanced flexibility to navigate today’s complex operating environment and execute on a more targeted, long-term strategy, enabling us to even better serve customers around the world. I want to thank the Special Committee for their diligent work to determine the best value creation opportunity for our shareholders, as well as express my gratitude to Paul for his decades of visionary leadership and continued partnership on the road ahead.”
“Guess? is a powerhouse brand that has defined style and culture for over 40 years,” said Jamie Salter, Founder, Chairman and CEO of Authentic. “We have tremendous respect for the Marcianos and their team, who have built an innovative, heritage-rich brand with incredible global reach and an established ecosystem of partners. We are excited to build on this legacy in partnership with them as Guess? enters its next chapter within our platform.”
Transaction Details
The transaction is expected to close in the fourth quarter of Guess?’s 2026 fiscal year, subject to satisfaction or waiver of regulatory and other customary conditions, including approval by the holders of a majority of Guess?’s outstanding common stock and a majority of the votes cast by the unaffiliated stockholders of Guess?.
The Guess? Board of Directors, with Paul Marciano and Carlos Alberini recusing themselves, unanimously approved the proposed transaction upon the unanimous recommendation of the Special Committee of independent and disinterested directors that led the review and negotiation of this transaction.
The Rolling Stockholders have agreed to roll over their shares of common stock and incentive equity of Guess? in connection with, and vote their shares of common stock in favor of, the proposed merger and the other transactions contemplated by the Merger Agreement, with such voting obligation terminating if the Merger Agreement is validly terminated, including in connection with a “superior proposal.”
The transaction is not subject to a financing condition. The transaction will be financed through a combination of rollover equity by the Rolling Stockholders and cash commitments by Authentic. Under the terms of the Indenture, dated as of April 17, 2023, between Guess? and U.S. Bank Trust Company, National Association, as trustee, holders of Guess?’s 3.75% convertible senior notes due 2028 (the “Convertible Notes”) will have certain rights to cause the repurchase, redemption or conversion of their Convertible Notes in connection with the transaction.
Guess? expects to pay a quarterly cash dividend of $0.225 cents per share through the closing of the transaction.
Upon completion of the transaction, Guess?’s common stock will no longer be listed on any public market.
Advisors
Solomon Partners is acting as financial advisor to the Special Committee, and Willkie Farr & Gallagher LLP and Young Conaway Stargatt & Taylor LLP are acting as legal counsel to the Special Committee.
O’Melveny & Myers LLP and Morris, Nichols, Arsht & Tunnell LLP are acting as legal counsel to Guess? and Joele Frank is serving as strategic communications advisor.
The Sage Group, LLC is acting as financial advisor and Jones Day and Ropes & Gray LLP are acting as legal counsel to the Rolling Stockholders.
J.P. Morgan Securities LLC is acting as financial advisor and Latham & Watkins LLP is acting as legal counsel to Authentic.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Published
August 28, 2025
Central London’s department stores continue to attract brands for pop-ups and permanent spaces with Selfridges, Harrods and Liberty all adding key names recently.
Luxury lifestyle brand Smythson of Bond Street has opened a new concession in the latter. It’s in Liberty’s homewares department on the third floor. The brand’s signature diaries, notebooks, and stationery, along with a selection of leather accessories and a curated edit of the brand’s bestselling bags are all on offer with personalisation also available.
The brands have developed an exclusive limited-edition range of Smythson x Liberty products with the first collection having just launched. There’s a selection of signature notebooks and diaries in Liberty Purple, Smythson’s Nile Blue, and a seasonal Coral colourway, each lined with a Liberty silk in coordinating colours. The second edit, launching in November, will feature a range of bestselling accessories.
Meanwhile UK-based padel apparel brand Pulco has debuted at Harrods, becoming the store’s first-ever padel clothing label, underlining the sport’s surging popularity.
Products on offer include the key Aircon shirt made from an ultra-lightweight, Italian-engineered fabric “featuring a breakthrough weave that rapidly wicks moisture from the inside out, delivering unrivalled breathability and comfort in play”.
But as well as performance-wear, there’s a full lifestyle offering “blending elevated athletic apparel with understated, off-court elegance”. That means shirts, shorts, hoodies, jackets, T-shirts, sweatpants, caps, socks and more. Retail prices range from £10 up to £165.
And back in the West End, Samsøe Samsøe has moved to a new space within Selfridges that presents the Scandinavian brand’s contemporary womenswear “within the universe of its experiential design”. The pop-up revolves around the AW25 collection that also inspires the space, “which emulates the immersive ‘Radiant Connection’ exhibition” that Samsøe Samsøe introduced the collection with during Copenhagen Fashion Week.
Set against the backdrop of the exhibition’s set design and illustrated by the lookbook imagery of the season, the pop-up “becomes illuminated with the lime green shade that defines the visual identity” of the collection.
The brand said the pop-up is a “next step within Samsøe Samsøe’s ever-increasing focus on the UK market” and should help it reach new consumers.
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Bangladesh’s garment exports to the US surged 24.49 per cent in the first six months of 2025 to $4.24 billion, led by trousers and shorts, which made up 45.65 per cent of shipments.
Despite a heavy effective tariff burden of 35–36.5 per cent, Bangladesh has retained its dominance in bottom-wear exports due to strong price competitiveness.
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FIEO president S C Ralhan described the development as a severe setback, warning that around 55 per cent of India’s US-bound shipments, worth approximately $47–48 billion, now face pricing disadvantages of 30–35 per cent. This, he said, makes Indian products uncompetitive compared to those from China, Vietnam, Cambodia, the Philippines, and other Asian producers.
FIEO has warned that the US’ additional 25 per cent tariff on Indian goods, raising duties to nearly 50 per cent, threatens $47–48 billion in exports, hitting textiles, leather, and other labour-intensive sectors.
President S C Ralhan urged urgent government support, credit relief, expanded PLI schemes, FTAs, and stronger diplomacy with Washington to sustain competitiveness.
The textile and apparel hubs of Tiruppur, Noida, and Surat have already reported production halts due to eroding cost competitiveness. Other labour-intensive sectors including leather, ceramics, chemicals, handicrafts, and carpets are also expected to face order cancellations and reduced global competitiveness, FIEO said in a press release.
In response, the president urged immediate government intervention. Suggested measures include interest subvention schemes, enhanced export credit support, low-cost lending for micro, small and medium enterprises (MSMEs), and a one-year moratorium on loan repayments. He also called for automatic credit limit enhancements of 30 per cent, collateral-free lending on emergency credit line guarantee scheme (ECLGS) lines and expanded production-linked incentive (PLI) schemes.
FIEO further emphasised the need for aggressive market diversification through fast-tracked free trade agreements (FTAs) with the EU, GCC, Africa, and Latin American nations, alongside investments in cold-chain and storage infrastructure. While diversification is key, the president underlined that urgent diplomatic engagement with Washington remains critical.
Promoting ‘Brand India’ through global branding, innovation, and quality certifications was also highlighted as a long-term strategy. FIEO has appealed for swift, coordinated action between exporters, industry bodies, and the government to safeguard livelihoods and maintain India’s export momentum in the face of escalating trade headwinds.
Fibre2Fashion News Desk (SG)
Smythson opens at Liberty, Pulco at Harrods and Samsøe Samsøe at Selfridges
Bangladesh’s US garment exports surge in H1, led by trousers & shorts
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