GUESS?, INC. (NYSE:GES) Files An 8-K Other EventsItem 8.01. Other Events.
In early November 2017, an entertainment website notified Guess?, Inc. (the “Company”) that it was seeking to post separate allegations that Paul Marciano, the Company’s Executive Chairman and Chief Creative Officer, had acted inappropriately toward two women. The website posted the allegations yesterday evening.
Upon being contacted in November 2017, the Company immediately investigated the claims with the assistance of outside counsel, and at this time, the Company has determined the following: One allegation was taken from a publicly available lawsuit that was filed in 2009. Mr. Marciano denied the allegation at that time, and a contemporaneous investigation conducted in 2009 by the Company and outside counsel did not corroborate the plaintiff’s claims. The second allegation concerns an aspiring model who is quoted anonymously in the story claiming inappropriate conduct in March 2016. Mr. Marciano also denies this allegation. To date, the current investigation has not corroborated either allegation, and the Board of Directors has been unable to determine that either accusation has merit.
Through a social media post made yesterday, the Company also became aware of concerns expressed by Kate Upton, previously a model for the Company, regarding prior conduct by Mr. Marciano.Mr. Marciano denies any misconduct toward Ms. Upton. As Ms. Upton’s concerns were just disclosed, they were not part of the Company’s current investigation, but the Company will fully investigate her claims once they are known to determine if they have any merit. As of today, no specific allegations have been made by Ms. Upton.
About GUESS?, INC. (NYSE:GES)
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of apparel and accessories for men, women and children. The Company operates through five segments: Americas Retail, which includes its retail and e-commerce operations in North and Central America and its retail operations in South America; Europe, which includes its wholesale, retail and e-commerce operations in Europe and the Middle East; Asia, which includes its retail, e-commerce and wholesale operations in Asia; Americas Wholesale, which includes its wholesale operations in the Americas, and Licensing, which includes licensing operations of the Company across the world. Its product lines include a range of clothing, including jeans, pants, skirts, dresses, shorts, blouses, shirts, jackets, knitwear and intimate apparel. Its apparel is marketed under various trademarks, including GUESS, GUESS?, GUESS U.S.A. and GUESS Jeans. It also grants licenses to manufacture and distribute a range of products.