Guess to exit China market by end of March
Fashion brand Guess will close all China stores by the end of March. The brand plans to re-enter the Chinese market under a new model later. Products within warranty remain eligible for after-sales service; invoice requests will be accepted until April 15. Founded in Los Angeles in 1981, Guess entered China in 2007 and once operated over 250 stores. In January, Authentic Brands Group and Guess completed a restructuring, with a joint venture holding core IP. The operating entity will be privatized and delisted from NYSE. Analysts suggest the closures may pave the way for licensing restructuring.
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