The committee’s establishment by the board comes after more details emerged this week from model Kate Upton of sexual harassment by cofounder Paul Marciano. Marciano has firmly denied the allegations.
Guess disclosed on Friday two independent directors were named to a special committee to oversee law firm O’Melveny & Myers on what the company called “an extensive and impartial investigation into all the facts.” The board established the committee on Wednesday, the same day Upton went to Time to fully report the details of her allegations, which she had hinted at about two weeks prior on social media.
Upton recounted to Time when the harassment began at a 2010 photo shoot during which she said Marciano grabbed her breasts and continued to touch and harass her throughout the rest of the day. The executive, Upton said, continued to harass her ahead of a second shoot, continually calling up to her hotel room. She was dismissed from the shoot the following day. The account was confirmed to Time by photographer Yu Tsai.
“As a leader in the fashion industry, Guess Inc. takes seriously any allegation of sexual harassment,” the company said Friday. “The company does not condone such misconduct in any form.”
Shares of Guess, which operates 982 stores and another 671 through licensees and distributors, were trading roughly flat on Friday for a market value of $1.26 billion.