Guess?, WHP Global To Acquire Fashion Brand Rag & Bone

(RTTNews) - Guess?, Inc. (GES) announced on Friday a definitive agreement to acquire the New York-based fashion brand rag & bone, with the assistance of global brand management company WHP Global.

The financial details of the agreement were not disclosed.

According to the terms, Guess? will obtain all of rag & bone's operational assets and take over the associated operational debts of the rag & bone business.

Furthermore, a joint venture split equally between Guess? and WHP Global will acquire rag & bone's intellectual property (IP).

Guess? and the joint venture will then engage in a licensing agreement that grants Guess? the exclusive right to utilize rag & bone IP for producing licensed goods worldwide and selling them in specified regions, in return for a royalty fee paid by Guess?.

The acquisition is anticipated to be finalized in the first quarter of Guess?' 2025 fiscal year.