US clothing manufacturer and retailer Guess consolidated 100% of Guess? Siayes, after having bought 30% from businessman Vyacheslav Shikulov for 8 million euros, the company must buy back the stake before December 31, 2025, Kommersant learned.
Now Guess owns 44 stores in Russia and acts as a distributor for wholesale partners. In 2022, Russian Guess revenue grew 24% and net profit 3.5 times.
According to experts, at a time when most of the fashion brands in the “middle plus” segment have suspended work, announced their departure or rebranded stores, a favorable situation is developing for Guess to continue working on the Russian market.
- Since the end of February 2022, Zara, Bershka, H&M, Uniqlo and several other brands have left the Russian market amid the Russian special operation in Ukraine. In this regard, a significant part of the niche of modern youth clothing, which Russian brands rushed to occupy, has been vacated. Analysts interviewed by RB.RU predict further expansion of the Russian fashion segment, even if the departed brands return, albeit under a different name. In his opinion, this will not affect the domestic manufacturer much.
Author:
karina pardaeva
Source: RB
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