Authentic Brands continues with an asset-light model, acquiring contorl of Guess. (Photo by Kevin Mazur/Getty Images for GUESS)
Getty Images for GUESS
Authentic Brands Group and fashion retailer Guess have completed a transaction that takes the label private, marking the latest move by the acquisitive brand management group to deepen its control over established consumer names.
Under the new ownership structure, Authentic holds a 51% stake in Guess’s intellectual property, while existing shareholders retain the remaining 49%.
The group of continuing shareholders includes Guess co-founders Maurice and Paul Marciano, Nicolai Marciano and chief executive Carlos Alberini. Guess management now owns all of the operating company and will continue to run the business, while Authentic’s involvement centers on brand strategy, licensing and long-term development.
Guess will maintain its operations in Switzerland, which will remain the hub for global strategy, design and distribution. The brand generates roughly $8.2 billion in annual retail sales, making it the second-largest label in Authentic’s portfolio and a significant contributor to the group’s global footprint.
The transaction comes as Guess faces a mixed operating backdrop. In recent years the company has benefited from a recovery in international tourism and resilient demand in Europe, while North American sales have been more uneven amid intensifying competition and shifting consumer preferences.
Guess has been working to rebalance its business toward higher-margin categories, expanding its digital channels and strengthening its licensing model, which now accounts for a growing share of earnings.
Despite pressures on discretionary spending, the brand has also continued to grow internationally, with particular momentum in southern Europe, Latin America and parts of Asia.
Authentic Pushes Ahead With Guess
For Authentic Brands, the deal reinforces its strategy of acquiring and scaling legacy brands through licensing, partnerships and experiential extensions. Founded by Jamie Salter, the group has built a portfolio that includes Reebok, Champion, Nautica, Brooks Brothers, David Beckham and Juicy Couture, and now generates approximately $52 billion in annual global retail sales across its ever-widening array of brands.
Authentic has increasingly positioned itself not only as a brand owner but as a platform, leveraging data, distribution partners and content-driven initiatives to expand brands into new categories, geographies and consumer touchpoints.
Guess has also been working to reposition itself within the fashion market, shifting its merchandise mix toward higher-margin categories such as handbags, accessories and licensing, while accelerating investment in digital channels and direct-to-consumer capabilities.
Licensing now represents a substantial and growing share of group profitability, helping to offset volatility in apparel demand. However, the brand continues to face pressure from rising input costs, promotional activity and changing consumer tastes, which have limited operating leverage and made consistent margin expansion difficult.
Authentic Expands Brand Roster
For Authentic, the transaction reflects a broader strategic logic: controlling intellectual property rather than retail operations.
By acquiring majority ownership of Guess’s IP, Authentic has secured the right to direct licensing strategy, brand architecture and global partnerships with greater authority, reducing its reliance on minority stakeholders and aligning long-term incentives.
The structure also allows Authentic to apply its established model, asset-light brand ownership combined with an extensive network of licensees and operators, while leaving day-to-day retail execution in the hands of an experienced Guess management.
“Guess has become a worldwide leader in fashion, and joining Authentic’s outstanding platform, portfolio and track record of success will enable us to build on this incredible foundation and take our brand to the next level,” said Jamie Salter, founder, chairman and chief executive of Authentic.