Guess?, Inc. and WHP Global to Acquire rag & bone - Seite 2

Yehuda Shmidman, WHP Global Chairman and Chief Executive Officer, said: “The acquisition of rag & bone aligns us with powerful partners and grows WHP Global's portfolio to over $7.5 billion in retail sales across 11 brands. We have great respect for rag & bone’s business and brand positioning, and look forward to building on its success as we capture the compelling opportunities ahead.”

Andrew Rosen, Chairman of the Board at rag & bone, said: “I am thrilled about this new relationship with Guess? and WHP Global. Today marks the beginning of an exciting new chapter as rag & bone joins forces with a much larger international fashion company. It’s a great opportunity for our team to take the brand to the next level, blending our unique styles and respective expertise to create new possibilities for rag & bone on a global scale.”

rag & bone will continue to be based in New York City. As part of the Guess? portfolio, the rag & bone team will operate as an independent fashion brand with a focus on continuing to provide unique and timeless collections to its customers.

Highlights of the transaction:

• Creates Strong Partnership with WHP Global, One of the Leading Global Brand Management Companies Today. This transaction will enable rag & bone to maximize global expansion by benefiting from both Guess?’ and WHP Global’s platforms and distribution and licensee partners all over the world.

• Leverages Guess?’ Powerful Infrastructure to Accelerate rag & bone Growth and Drive Synergies. Over the years, Guess? has developed a strong global infrastructure and network of licensees and wholesale partners. Through this transaction, rag & bone will benefit from Guess?’ ability to support the growth of its product offerings, expand the brand’s reach into new markets and drive operational efficiencies.

• Expands Guess?’ Global Lifestyle Brand Portfolio with a Commitment to Timeless and Innovative Designs Customers Love. The acquisition of rag & bone underscores Guess?’ long-term growth strategy to power a bigger business, while maintaining a focus on delivering the best products for customers. This transaction brings together highly complementary price points and customer bases along with creative teams that are dedicated to upholding a reputation for innovative design and uncompromising quality.

• Positions Guess? to Drive Increased Value for Shareholders. This transaction is consistent with the Company’s commitment to generate strong value for its shareholders through an efficient and opportunistic approach to capital allocation. The potential in terms of revenue growth and operational efficiencies for rag & bone is expected to make the transaction accretive to earnings per share for Guess? in the first year.

Transaction Details