Guess expands with Rag & Bone acquisition
Denim brand Guess has made its first acquisition, teaming up with brand management firm WHP Global to jointly buy US-based fashion brand Rag & Bone.
The brand directly operates 34 stores in the US and two stores in the UK and is also available in boutiques, department stores and through e-commerce.
In 2023, Rag & Bone generated revenue of around $250 million and profits of around $18 million.
Guess contributed $56.5 million to the sale.
Carlos Alberini, CEO of Guess, said: “Guess has an incredible platform with a strong global distribution network and outstanding licensee partners that will enable us to power the growth and expansion of the Rag & Bone business.”
In January, Guess announced a brand revamp.
Image: ‘Tweed denim’ from Rag & Bone’s spring collection. Credit: Rag & Bone
