Guess is known for many things, but until this year, acquiring other companies was not one of them. 2024 has shaken things up a bit, however: as MarketWatch reports, Guess just made its first acquisition ever, and it’s a big one: Rag & Bone. Dramatic changes don’t seem likely, at least initially. Guess’s announcement of the deal states that Rag & Bone’s team “will operate as an independent fashion brand with a focus on continuing to provide unique and timeless collections to its customers.”
Guess’s co-founder, Paul Marciano, spoke effusively about the deal. “[Rag & Bone] is a brand I have always loved and respected,” he said in a statement. “It is a brand well known for its pre-eminence in American fashion that over the years has stayed true to its roots and founding values, with an unwavering commitment to quality and authenticity.”
According to the announcement, Guess now owns Rag & Bone’s operating assets, while Rag & Bone’s intellectual property is co-owned by Guess and WHP Global, the same company that also manages the likes of Express, Joe’s Jeans and G-Star RAW.
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From Off-White to Nicholas Daley, consider these labels your introductory courseWhile Guess making its first acquisition in 43 years is news in and of itself, this deal might also be part of larger changes with the company. Earlier this week, Puck’s Lauren Sherman wrote that this deal could relate to the Marciano family taking Guess private.
Sherman was unsure of the status of Guess going private, but pointed out that “an announcement could help with the fundraising.” It’s certainly something to keep an eye on — whether you’re an investor or simply an admirer of Rag & Bone’s apparel.
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