FTC GIVES MARCIANO OK TO BUY YES
WASHINGTON — The Federal Trade Commission said Tuesday it has given Georges Marciano the antitrust go-ahead to buy an 80 percent stake in Yes Clothing Co., Los Angeles.
The FTC did not elaborate on its decision. The agency reviews most large deals to see whether competition would be hindered.
As reported, Marciano — who resigned as chairman of Guess in August 1993, selling his 40 percent stake for $220 million — plans to become chairman of Yes, when the deal is completed. He also plans to negotiate a long-term license with Yes for two new labels he has developed: Misfits, a better denim collection, and GMSurf, a junior and young men’s surf-inspired sportswear line.
The deal for Yes was announced in December. — Fairchild News Service