Authentic Brands Group (ABG), a global brand development and licensing platform, and fashion brand GUESS have announced they have completed the transaction to take GUESS private.

Authentic now owns 51% of substantially all GUESS intellectual property, and existing GUESS shareholders, Maurice Marciano, Paul Marciano, Nicolai Marciano and Carlos Alberini and certain of their respective trusts, foundations and affiliates, now own 49% of all GUESS intellectual property. With $6 billion in global retail-equivalent sales, GUESS becomes Authentic’s second-largest brand, bringing its portfolio-wide annual retail sales to $38 billion globally.

Current GUESS management now owns 100% of the operating company and will continue to run the operating business. GUESS operations in Switzerland will continue to serve as a central hub guiding the global strategic and commercial direction across design, creative and distribution.

For more information, visit authentic.com.