Guess

Guess just went private. The American jeans and lifestyle brand completed a take-private transaction with Authentic Brands Group on January 23, 2026, valuing the company at $1.4 billion. Authentic now owns 51% of Guess intellectual property, while the Marciano family and CEO Carlos Alberini retained 49% as “Rolling Stockholders” and continue to operate the business. Guess was founded in 1981 in Los Angeles by Maurice and Paul Marciano and traded on NYSE under GES for nearly 30 years before delisting.

Authentic Brands Group operates more than 50 lifestyle brands generating approximately $32 billion in annual retail revenue, with a model centered on licensing rather than direct retail operation. For Guess, this means access to Authentic’s licensing infrastructure (Reebok, Champion, Brooks Brothers, Forever 21) at the cost of partial IP control. The Marciano family pre-positioned for this in April 2024, when Guess and Authentic jointly acquired Rag & Bone, with Guess taking the operating assets and 50% of Rag & Bone IP while Authentic took the other 50%. That deal previewed the operating model that now governs Guess itself.

Guess directly operates 1,057 retail stores across the Americas, Europe, and Asia, with another 541 stores run by partners and distributors, totaling roughly 1,600 retail points across approximately 100 countries. Fiscal 2025 revenue was $3.0 billion, up 8% in USD. Europe and Americas wholesale drove the year, while Asia retail comparable sales fell 14%. For mall operators, the Authentic deal signals a likely shift toward more licensee-operated and partner-operated stores over time, with the directly operated network potentially consolidating around its strongest markets.