Guess Inc. is a retail fashion company that was founded by the Marciano brothers, Maurice and Paul Marciano, on 1981 in Los Angeles, California. They’re first product were known as the 3 zip Marilyn jeans which were quickly sold in the department store known as Bloomingdales. They later on opened they’re very first Guess store in Beverly Hills.
Guess has always been known for they’re comfortable and stylish denim. The company’s name continued to grow over the years. Two other brands were related as part of Guess known as Marciano and G by Guess. Guess is for middle class people with a style that is a little more dressier.
G by Guess has reduced prices and offered a more casual and urban style to customers. Marciano is known to be the higher end of Guess and offers alassy and dressier styles for women. It recently started to bring out a men’s collection as well. It began to expand internationally and soon got into e-commerce.
Guess has been around for about 36 years now, and continues to attract people all around the world ranging from different ages. I currently work at a Guess retail store and learned a lot about the company from working there for over three years now. The company has a variety of apparel to offer to their customers. The brand sells apparel from jeans, dresses, accessories, business wear, sports wear, shoes, handbags, watches, etc. From personal experience and what I have seen, the company’s main target are males and females from the ages of 15-50. The range is so big because the company produces multiple styles such as classy, urban, sexy, professional, and casual. The company also has kids collection.
Almost for any age. The main thing most clients ask for are the jeans, Guess is a well known company because of their jeans. Guess has grown a tremendous amount over the years. One reason is because they tend to have collaborations with celebrities to drive in more clients. Two recent collaborations were with A$ap Rocky the rapper, and Jennifer Lopez. I was personally present for the launch of the A$ap collection when it was first launched into stores.
People had been waiting outside stores before the store even opened. Some clients had mentioned they were there since 7 a.m. The A$ap collaboration brought in many young clients who were looking for more of an urban style to clothing. Most of the clients we had were males from the ages ranging from 14-27. Some people started selling the collections product online for about $100 a t-shirt.
The collection sold out within one hour. $1300 was made from 10 a.m. to 11 a.m.
on the day the collection was released at the store I work at. JLo’s collection still hasn’t been released, but we are already getting calls from clients asking more information on when the collection will be released. Guess takes advantage of social media to promote the collection. According to the campaign, the collection will be released for the 2018 spring collection, but no official date has been set yet. Not only does J Lo attract the Latino community, it also attracts females ranging from her own age. The age range itself attracts many clients. Guess is very diverse in style and open to multiple ages.
The Latin community are huge fans of Guess, especially of J Lo. This will be without a doubt a successful collaboration for Guess. The pros of Guess are that it’s a company that is well known to many people and have been around for more than 30 years. It mainly targets young people and can still make collaborations with celebrities. Collaborations always drive in more traffic. Especially someone like J Lo and A$ap Rocky. Another pro about this company is that they are also an international company.
Guess stores can be found in multiple places around the world such as Europe, South America, and Asia. Guess could gain business and popularity from anywhere. Another positive element for Guess is that they are also involved in e-commerce. This generation is known for using technology for berthing, including shopping online.
Guess offers their collections online for customers to order products from home. Many people do not bother going to the mall anymore. Which is why so many people have switched to online shopping. E-commerce allows Guess to expand their business even more. More product is now available to clients through the Guess website. The company also allows clients to put items on hold for them at the closest Guess store for them. They have access to view whether or not an item is available at the closest guess store and to place a hold on that item for 24 hours, the closest guess store the gets a notice on their register to confirm that they do in fact have the item and confirm the hold for the client. Guess takes advantage of technology to increase business.
Of course, not every company is prefect. Over the years Guess has decreased in business. Guess. Stock prices have fallen over the past few years. Fortunately 2017 was a better year for Guess. The price of a Guess stock last year was 12.51.
Today the pre of a Guess stock is 18.22, so it has made some recovery. Back in 2013 the price of a stock was 34.38, business has gone down over the years. Since business has been down, Guess had to cut back a bit. According to an article on Fox business, 60 Guess stores were to close down in 2017 (Barrabi). Here in New Jersey, 3 stores have already closed down. Only 5 Guess stores remain in the state of New Jersey.
And from personally working with the company for four years starlight, Guess decided to cut back on hours and only do inventory once a year. Guess hires a company to help stores with scanning for inventory. Inventory is usually done twice a year, one in January and another in June. In 2017 inventory was only done once in January, and many stores had to cut a lot of hours from employees. Stores went from having 3 closers on the weekends, to only one.
Some employees were even let go. Another cut that was made in the company was from District Managers and Co. Managers. Co. Manager positions were no longer available, and multiple district managers were let go. Each District Manager had about 5-6 stores to manage before, now that some of them were let go, district managers are now in charge of about 15-20 stores.
Also, another aspect against Guess is that the company allows other retailers to sell their merchandise. Other retailers such as TjMaxx, Macy’s, Lord and Taylor sell Guess products as well. Guess is known for being a high end store, so having their. Merchandise doesn’t make it as exclusive anymore. Sure it brings in more profit, but customers expect to get the same deals or merchandise at Guess retail stores which can hurt business. Clients prefer to shop at department stores to be able to get the best deals they can.
At Guess stores, there are always clients asking to price match department stores, and of course employees are not allowed to do that. The actual Guess stores are losing profit by having other retailers sell Guess products. I chose to do research on Guess because I have known that company for many years now. I’ve personally shopped there at the age of 15 and was hired to work for the company at the age of 18. It was my first and only job ever. I am now currently one of the Assistant Managers and I was interested in knowing more about the company and why there have been so many changes over the years that I have worked there. Such as the hourly cuts, store closings, and inventory cancellations.
I was also hearing many rumors about store closing and how many stores were not reaching their daily goals. My home store hadn’t made our monthly goal in over a year since business has decreased. So it did bring even more attention that my home store could have been one of those 60 stores that were closing. I still try to keep up to date with what is going on with the business, rumors go on around saying more stores will be closing down in 2018. Barrabi, Thomas. “Retail Apocalypse: 21 big retailers closing stores.” Fox Business , 4 Jan. 2018.
Hsu, Tiffany, and Shan Li. “New CEO to succeed Paul Marciano at Guess – LA Times.” Los Angeles Times , 14 July 2015.