Guess opens doors to its first store in Uruguay
March 21, 2019 in News
The iconic fashion brand is driving an impressive global expansion, using help from SkillNet to deliver connected customer experience.
Guess launched itself in the Uruguayan market this January, opening its first store at the newly renovated Punta Carretas mall in Montevideo. The latest move underscores the growing importance of Latin American markets for global retailers. The Los Angeles, California-based firm operates more than 1,200 stores in 80 countries around the world. Specifically in Latin America, the firm has a presence in countries such as Chile, Peru, Bolivia and Mexico.
Guess believes it needs to be pulling in even more from the regional markets. As part of an ongoing turnaround strategy launched in 2016, Guess has been aggressively pursuing omni-channel growth and new international store openings. In a story published in Chain Store Age in 2016, Victor Herrera, the then CEO of Guess laid out his plan for adding another $800 million to company’s topline:
“This $800 million increase is expected to be driven by growth in e-commerce, retail expansion and positive comp store sales. In terms of regional growth, we expect $300 million of this increase to be driven by the Americas, $300 million by Europe and $200 million by Asia.”
Looking back, this strategy has been quite successful. According to the latest financial reports, the company’s revenues have steadily increased over the past several quarters. Guess closed its 2019 fiscal year with a revenue of US$ 2.6 billion, a 10.4% increase from 2018, and a 19.2% increase from 2017 numbers. You can read more about its 2019 results here.
SkillNet is proud to be closely working with Guess in its international growth. Leveraging Oracle Retail as a foundational platform, SkillNet continues to help Guess deploy a modern infrastructure in its stores, and tailor it to specific needs of the regional markets in Asia, Latin America and Europe.
Guess Inc. Q4 Fiscal 2019 Results
Guess Uruguay launch announcement