Guess Inc. announces Victor Herrero as the new CEO of the fashion and lifestyle brand, as part of a few other top-level changes to the management board.
The announcement was made by Paul Marciano, co-founder and current CEO of Guess Inc., who stated that the new chief executive will take on the role in August 2015.
“The most important criteria in our view are the understanding of our brand, which will celebrate its 35th anniversary next year, the complexity of our business being in over 90 countries with more than 25 categories of products and having a deep understanding of the changing environment of the retail world,” Marciano said.
Herrero comes to take the role after gaining a 20-year experience spanning Europe and Asia. “Victor served as the head of Asia Pacific for Inditex Group, the world’s largest fashion retailer with brands including Zara, Massimo Dutti, Pull & Bear, Bershka and Stradivarius,” a brand statement said.
In the Middle East, Guess Inc. and Al Futtaim Trading Company entered a distribution license agreement to develop the brand in the region. The agreement includes covering the existing business portfolio, spanning across seven countries: Saudi Arabia, the United Arab Emirates, Jordan, Kuwait, Bahrain, Lebanon and Egypt.
Al Futtaim now operates the largest number of Guess retail stores in the Middle East and is looking to further expand the brand’s outreach to new territories, such as Qatar and Oman.
Back at Guess headquarters, Paul Marciano will replace Maurice Marciano as Executive Chairman of the Board and will continue serving as Chief Creative Officer. Maurice Marciano will remain a director and has been named Chairman Emeritus by the Board of Directors, according to the statement.