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)
China will step up building a higher-level China-Vietnam community with a shared future that carries strategic significance, Chinese President Xi Jinping said while holding talks with visiting Vietnamese President To Lam.
China and Vietnam are accelerating efforts to navigate bilateral trade towards a more balanced and sustainable course.
President Xi Jinping recently held talks with visiting Vietnamese President To Lam.
During the visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Xi said both countries should work together in their modernisation drive, accelerate the alignment of development strategies and prioritise infrastructure connectivity.
While meeting Chinese Minister of Commerce Wang Wentao during the state visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.
Wang said both sides should focus on implementing the high-level common perceptions, including raising bilateral trade turnover to $500 billion in future.
Hung urged China to expand imports of Vietnamese goods, broaden the list of products eligible for tariff preferences and further open its market. He also called for the mutual recognition of quarantine results for agro-forestry-fishery products, facilitation of Vietnamese exports via cross-border e-commerce, and expansion of Vietnam’s trade promotion offices across Chinese localities, according to a Vietnamese news agency.
China will continue to support Vietnam in setting up additional trade promotion offices, following those already established in Chongqing, Hangzhou and Haikou, Wang responded.
China also expressed readiness to support Vietnam’s stronger exports through cross-border e-commerce, encouraging greater visibility of the Vietnam National Pavilion on Chinese e-commerce platforms beyond JD.com to better promote Vietnamese products to Chinese consumers.
China has consistently been Vietnam’s largest trading partner and second-largest export market, while Vietnam continues to be China’s biggest trading partner in the Association of Southeast Asian Nations (ASEAN).
Fibre2Fashion News Desk (DS)
British actors Simone Ashley and Tom Blyth star alongside models Alva Claire, Babacar N’Doye and Sacha Quenby and a cast of synchronised swimmers and divers.
Burberry’s High Summer 2026 campaign captures Britain’s nostalgic lido culture through a sunlit film featuring Simone Ashley and Tom Blyth.
Blending heritage check with pastel tones, the collection spans swimwear, relaxed tailoring, raffia bags and lightweight layers, evoking effortless, poolside summer style.
Directed by Francis Plummer, the campaign reflects a warm, communal British summer mood.
The campaign film is directed by Francis Plummer and shot by photographer Ryan McGinley. The cameras move from loungers to diving boards, catching mid-air dives and friends stretched out in the hazy afternoon light. Before long, the best spots by the pool are claimed with a Burberry towel. Summer has begun. The film is underscored by the TONE remix of ‘Beating’ by Tirzah.
‘A lido holds a particular kind of nostalgia for the British. The moment the sun comes out, we make the most of the weather. We wanted to bring to life a warm summer’s day spent in and around the water’s edge with friends.’ said Daniel Lee Chief Creative Officer, Burberry.
Key styles
The High Summer 2026 collection features the Burberry Check in heritage-inspired sand beige and pastel shades of aubergine purple and cornflower blue.
The iconic Burberry Check bikini is the beach essential, alongside matching swimsuits and men’s swim shorts trimmed with check.
Poolside separates include tops, skirts and shirts cut from cotton voile, plus cover-up dresses woven with a tonal Burberry Check and deckchair-inspired stripes. Ruffled trims and ties at the neckline capture the floaty, effortless feel of the collection. Festival
tank tops in ribbed cotton jersey are trimmed with check straps, while looks are wrapped in lightweight wool silk scarves.
For men, collared shirts and shorts are tailored to relaxed lines and finished with fresh interpretations of the Burberry Check, from textural weaves to intricate embroidered designs. The co-ord set is crafted from lightweight cotton poplin printed with a playful seahorse pattern in honeysuckle pink.
The classic cotton piqué polo shirt comes in a spectrum of vivid and neutral colours. Burberry Check is subtly placed at the placket and trims the collar of T-shirts in soft cotton jersey.
Lightweight hooded jackets are ideal for cooler evenings and unexpected showers, the new-season designs woven in aubergine purple and cornflower blue check.
In shoes, the new Knight Runner sneakers offer a streamlined, low-profile shape for summer. Sandals are elevated in the form of the whipstitched leather Baez and check-trimmed suede Urchin styles, while Burberry Check slides and Pavilion sandals are made for the beach.
Lightweight Margate bags are handcrafted in Madagascar from locally sourced raffia palm leaves, dyed in signature sand beige Burberry Check. Accessories include crocheted bucket hats and wraparound sunglasses, designed to shield from the sun.
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 (JP)
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