Victor Herrero, formerly at Inditex, becomes Guess CEO | RetailDetail

Victor Herrero, formerly at Inditex, becomes Guess CEO

Victor Herrero, formerly at Inditex, becomes Guess CEO

Former head of Inditex' Asia - Pacific region, Victor Herrero, will become Guess CEO from August onward. He will replace Paul Marciano, who will become chairman of the board and remain the company's creative director.

Improve results

Maurice Marciano, Paul's brother and co-founder, had been the company's chairman up until now and both have shared CEO responsibilities since the company's foundation. Since 2007, Paul Marciano led the company on his own, but August 2015 marks the date that the company will - for the first time ever - have another name as its CEO.

 

Herrero is charged with bringing Guess' results back up, as these were below analyst expectations in the first quarter - mainly because of weaker North American sales. Guess says it will be below analyst expectations for the second quarter as well.

 

The Italian-American jeans brand celebrates its 35th anniversary next year, but has faced increased competition from fast fashion brands like Zara, H&M and Forever 21. It has kicked up a gear in Europe, where its expansion started last year.

Questions or comments? Please feel free to contact the editors


Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.

Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.

AB InBev joins forces with Efes in Russia

12/07/2018

In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.

Jumbo appoints new head of Belgian branch

11/07/2018

Dutch Jumbo Groep Holding has made a management reshuffle, with Peter Isaac becoming the new managing director of the group's Belgian branch. Bart van den Nieuwenhof meanwhile is set to leave the group's restaurant chain La Place.

Snacks boost Pepsico’s sales

10/07/2018

Snack and beverage giant Pepsico has recorded a slight revenue growth of 2.4 % in the second quarter of this year. Net profit however went 14 % lower, due to rising taxes.