Guess Inc., which agreed to be taken private by a group of investors this summer, is “shifting responsibility for several business functions” to Switzerland from its headquarters in downtown Los Angeles and laying off 100 employees.
In August, the designer apparel brand was taken over and brought private as part of a $1.4 billion deal by co-founders Maurice Marciano and Paul Maricano, and Guess Chief Executive Officer Carlos Alberini, who partnered with Authentic Brands Group.
Alberini wrote in a letter to the California Employment Department that the layoffs are expected to begin on or about Dec. 8.
“The company is shifting responsibility for several business functions, in part or in full, to its European headquarters located in Lugano, Switzerland,” he wrote in the letter filed Nov. 14 with the EDD.
Alberini did not list any of the positions to be cut in the letter, which is typical with such letters filed under the Worker Adjustment and Retraining Notification process. A WARN notice is required when an employer lays off more than 50 employees or a significant percentage of its staff.
Haley Steinberg, a spokeswoman with Authentic Brands, wasn’t available to comment on whether the Guess headquarters was closing permanently, or downsizing and shifting some or all of the operations to Switzerland.
Prior to the announcement of Guess being taken private, the retailer had headquarters in Lugano and Los Angeles, and more than 1,600 retail stores globally.
New York-based Authentic Brands, which bought 51% of Guess’ intellectual property, owns more than 50 brands and generated roughly $32 billion in annual retail sales, the company said at the time of the Aug. 20 announcement. The group owns popular fashion and lifestyle brands, including Champion, Eddie Bauer and Reebok. Guess is expected to add $6 billion in global sales to the retail giant, according to Authentic Brands.
The Marciano brothers moved to Los Angeles from France to launch their business in 1981. The company offers a range of clothing as well as accessories, including handbags and glasses.
The deal is expected to close in the fourth quarter of fiscal year 2026, subject to regulatory approvals.
Guess is the second major retailer to abandon downtown Los Angeles this year.
In February, the U.S.-based operator of fashion retailer Forever 21 laid off 358 people as it closed its Fashion District headquarters in downtown Los Angeles.
Forever 21 Chief Financial Officer Bradley wrote in a Feb. 18 letter filed with EDD that workers at the company’s headquarters would be laid off permanently from April 21 to May 5.
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