September 27, 06

NEWS / Guess? Teams With Grupo Axo Affialiate For Mexican Joint Venture

Guess? Teams With Grupo Axo
Affialiate For Mexican Joint Venture

Los Angeles-based Guess? Inc. ??” a designer, marketer, distributor and licensor of a branded collection of apparel, accessories and related products ??” has entered into a joint venture with an affiliate of Grupo Axo ??” a Mexico-based developer of international brands in that country ??” to manufacture, distribute and sell Guess? merchandise in Mexico. Guess? owns the majority interest in the joint venture, which so far has opened two Guess? retail stores ??” one in Mexico City and one in Cancun.

???The formation of our new Mexican joint venture is another step forward in our international expansion,??? said Paul Marciano, co-chairman and co-CEO, Guess?, noting the company previously licensed the Guess? brand in Mexico for apparel for more than 20 years. ???We believe Mexico is an exciting opportunity for Guess?,??? he added.

???Our growth strategy for Mexico over the next several years includes the opening of several free-standing stores and over 50 shop-in-shops within leading department stores,??? said Alberto Fasja Cohen, co-CEO, Grupo Axo.

Guess? currently owns and operates 326 retail stores in the United States and Canada, and distributes its products worldwide through better department and specialty stores. Grupo Axo owns and operates 39 retail stores and more than 300 shop-in-shops throughout Mexico.