GUESS? continues expansion in Russia
LA based denim giant GUESS? continues its expansion in Russia. Following the opening of its new headquarters and showroom in Moscow by exclusive service company LLC SuperStar, the Brand has confirmed that during the coming S/S 2011 season it will open a total of 10 new stores. This intensive retail roll-out plan includes 4 GUESS Jeans stores and 2 GUESS by Marciano stores. As well as, 2 GUESS Accessories stores, a Footwear store and a Kids store in prestigious shopping malls located in Moscow, St. Petersburg, Rostov, Ekatarinburg and Tartarstan, opened via licensing agreements with important local business partners.
The Brand has also laid the foundations for a thriving wholesale business. With 50 new doors stocking the Brand for the new season, due to the sales structure set up in June 2010, as part of the five-year business plan to develop and consolidate all GUESS apparel and accessories collections (Guess Jeans, Guess by Marciano, Guess Accessories, Guess Footwear, Guess Underwear and Guess Kids) in this key market.
GUESS is also experiencing consistent global growth as evident from its most recent results. Total net revenue for the third quarter of fiscal 2011 increased 17.4% to $613.9 million from $522.8 million in the prior-year quarter. The Brand closed the period October 30th 2010 with a total of 1353 stores worldwide and across all concepts.
Paul Marciano, Vice-Chairman, Chief Executive Officer and Creative Director of GUESS?, Inc. stated, "Our international expansion continues to drive our growth, with Europe and Asia highly contributing our revenue increase. While our Brand already enjoys tremendous recognition around the world, we know that there are many regions where our current business has much more potential. Our success in new international markets validates this conviction. Our strategy is to continue to invest in our Brand and business, developing new markets while building the necessary infrastructure and partnerships to support our growth. Above all, we will protect our most important asset - the Guess Brand - by constantly adapting ourselves to the new world, but always maintaining integrity and staying true to who we are."
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