Guess says it will shut all mainland China stores amid retail rethink
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Guess will close all of its mainland China stores by the end of March, signaling a retreat from the market. The US fashion brand informed customers of the closures, which include both online and offline locations, via text message in late February. Guess cited plans to reposition itself in the Chinese market under a new business model. This decision follows a trend of international fashion retailers, such as Old Navy and Topshop, withdrawing from mainland China, reportedly due to issues like weak localization. The announcement also comes after Authentic Brands Group acquired a majority stake in Guess in January.
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AI-ExtractedAuthentic Brands Group (ABG) acquired a majority stake in Guess in January.
Guess informed customers via text messages that it would close all its online and offline stores.
Other foreign brands that have withdrawn entirely from mainland China include Old Navy, Topshop, Bershka, Pull&Bear, Stradivarius and Oysho.
Guess will close all its stores in mainland China by the end of March.
A growing number of international fashion retailers retreat from the Chinese market.
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