US fashion retailer Guess Inc. on Tuesday name Victor Herrero new CEO, succeeding Paul Marciano, effective in August 2015. Paul Marciano will replace Maurice Marciano as Executive Chairman of the Board and will continue serving as Chief Creative Officer. Maurice Marciano will remain a director, and has been named Chairman Emeritus by the Board of Directors.
Victor Herrero joins Guess with over twenty years of global experience spanning Europe and Asia. Before joining Guess, Herrero served as the head of Asia-Pacific for the world’s largest fashion retailer Inditex Group where he started his career and spent twelve years with the business. Prior to Inditex, he was a management consultant working for Arthur Andersen in Asia.
Guess will celebrate its 35th anniversary next year. The board has been looking for a successor for Marciano for over a year.
"We believe that Victor is the perfect top executive because, in addition to his entrepreneurial spirit, he has unparalleled experience in building a large business in Asia, he has a deep understanding of the current world of retail, and he is extremely knowledgeable in best in class sourcing and supply chain," said Paul Marciano.
As of May 2015, Guess directly operated 470 retail stores in the US and Canada and 361 retail stores in Europe, Asia and Latin America. The company’s licensees and distributors operated an additional 836 retail stores outside of the US and Canada.