Guess to Go Private in $1.4 Billion Deal With Authentic Brands
Guess Inc. is set to go private after striking a $1.4 billion deal with Authentic Brands Group, the parent company of Reebok, Brooks Brothers, Nautica, Sperry, and Dockers. The agreement will give Authentic Brands a 51% stake in Guess’s intellectual property, while co-founders Maurice and Paul Marciano and current CEO Carlos Alberini will retain the […]
Uniqlo to Raise Prices Globally as Production Costs Rise
Fast Retailing, the parent company of Uniqlo, announced it will be raising prices on select Uniqlo items in international markets, citing higher costs for materials and manufacturing. The company said the move is necessary to maintain quality and profitability as inflation and supply chain pressures continue to affect production. Despite the price hike, Uniqlo has […]
Heron Preston Splits From New Guards Group, Buys Back Full Control of His Brand
Heron Preston is officially independent. The designer has announced his departure from New Guards Group, the company that helped launch and manage his namesake label since 2017. New Guards Group has been shedding many brands from their portfolio recently including Ambush, Palm Angels, and Off-White. In a statement, Preston revealed he’s regained full ownership of […]
