Guess Closes Purchase of Its Italian Licensee

Guess Inc. said it had completed the purchase of its Italian licensee, including 10 stores that will help the apparel retailer expand its presence in Europe in the next few years.

The Los Angeles-based company and its unit Guess Italia bought the 90% of Maco Apparel shares that it did not already own from Fingen and Fingen Apparel. Previously, Guess Italia owned 10% of Maco, the European licensee of Guess jeans.

The acquisition included the leases and assets of stores in Rome, Paris, London and other European cities.

Guess shares rose 4 cents to $13.38 on the New York Stock Exchange.

Leslie Earnest