Guess Inc. is bringing the head of one of its longest-standing licensees inside.
This story first appeared in the July 18, 2012 issue of WWD. Subscribe Today.
Frank Rescigna, most recently president of Viva International Group, has been appointed to the new post of president of licensing worldwide at Guess Inc. The appointment is effective July 23.
Viva has held the worldwide rights to Guess eyewear for 21 years, and its current license, which includes the Guess by Marciano subbrand, extends through 2020 with renewal options.
Rescigna, who earlier served as chief executive officer of Marcolin, will report to Paul Marciano, ceo and creative director of Los Angeles-based Guess. Domestic and international licensing had previously reported directly to Marciano.
Marciano said Rescigna “brings a wealth of experience from strong global brands. Over the past several years, we have built a very strong management team around the world, and we are continuing to enhance that with top talent from prominent companies.”
In 2011, licensing generated $121.4 million in revenue for Guess, 5.4 percent higher than in 2010 and corresponding to 4.5 percent of the firm’s total revenues of $2.69 billion.
In the midst of the celebration of its 30th anniversary, Guess has been among the global apparel brands hurt by the recent slowdown in Europe. While it exceeded analysts’ expectations with a 37.6 percent drop in first-quarter profits, to $26.6 million, and a 2.2 percent decline in revenues, to $579.3 million, its royalties for the quarter eked out a 0.2 percent increase to $28.9 million.