Guess, WHP Global Acquire Rag & Bone

Guess Inc. and brand management firm WHP Global teamed up to acquire Rag & Bone, the companies announced on Friday.

Guess will acquire all of Rag & Bone's operating assets, while Guess and WHP Global will each own 50% of the New York-based fashion brand's intellectual property in a joint venture.

"I am thrilled about this new relationship with Guess? and WHP Global," Andrew Rosen, chairman of the board at Rag & Bone, said in a statement. "Today marks the beginning of an exciting new chapter as Rag & Bone joins forces with a much larger international fashion company. It's a great opportunity for our team to take the brand to the next level, blending our unique styles and respective expertise to create new possibilities for Rag & Bone on a global scale."

Guess will contribute $56.5 million to acquire Rag & Bone, and there is a potential for a maximum earnout of $12.8 million. The deal is expected to close during the first quarter of Guess' 2025 fiscal year.

Back in July 2023, Rag & Bone's co-founder Marcus Wainwright stepped down from his position as chief brand officer after 21 years with the brand. Wainwright remained a shareholder and a member of the board of directors.

"Rag & Bone is a brand I have always loved and respected," Paul Marciano, Guess co-founder and chief creative officer, said in a statement. "It is a brand well known for its pre-eminence in American fashion that over the years has stayed true to its roots and founding values, with an unwavering commitment to quality and authenticity. This acquisition is the first one in the 43-year history of Guess, and I am thrilled to welcome Rag & Bone to our family. I look forward to working with Andrew Rosen and the talented team at Rag & Bone to pursue the brand's product and market expansion internationally."

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