Iconic American fashion brand Guess Inc. announced that its chief executive officer and director, Victor Herrero, is leaving the company effective February 2, 2019. Carlos Alberini, who served as Guess’s president and chief operating officer more than ten years ago, will replace Herrero.
“On behalf of the Board of Directors, I want to thank Victor for his contributions during his tenure and wish him well in his endeavors,” said Maurice Marciano, chairman of the board.
Alberini has been appointed as the new CEO and a Director of the company, “effective upon his separation from his current employer,” said Guess in a press release detailing the new hire on January 28.
Alberini served as COO for the Californian company from 2000 to 2010. He was co-CEO of Restoration Hardware until 2014, and a director on the board of Restoration Hardware from 2010 until present.
More recently, Alberini has been the Chairman and CEO of Lucky Brand, a role he took on from 2014.
“I am very excited to have Carlos coming back as CEO at Guess. He was instrumental in building the international business in Europe and Asia during his 10-year tenure with the company,” said Maurice Marciano.
The company also announced that Marciano has agreed to remain as Chief Creative Officer. His employment will be “at will”, according to Guess.
During the transition, Marciano will be acting as interim Chief Executive Officer.
In 2017-2018 financial year, Guess witnessed a steady growth track in Asia, notably in China.
In March last year, the brand said it planned to open 60 stores in Asia, after also opening its first subsidiary in Singapore.
In same financial year, the group said it improved its gross margin in Asia by 470 base points, with sales up 40 percent.