U.S. Markets closed

GUESS Releases FY2020-2021 Sustainability Report with Best Practice for ESG; Achieves Milestone Reasonable Assurance Examination by a "Big 4" Accounting Firm

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

LOS ANGELES, July 20, 2021--(BUSINESS WIRE)--GUESS, a global lifestyle fashion brand, has released "VISION GUESS" - its fourth sustainability report covering fiscal years 2020 and 2021, written in accordance with the Global Reporting Initiative (GRI) and Sustainable Accounting Standard Board (SASB) standards. The publication of VISION GUESS is a milestone achievement for the company, marking its successful completion of a reasonable assurance engagement with "Big 4" Accounting Firm KPMG to examine the metrics and disclosures in its sustainability report. The sustainability report shares the company’s significant progress on Environmental, Social, and Governance (ESG) topics since its first sustainability plan was announced in 2016, and outlines its vision for sustainability going forward.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210720005251/en/

GUESS Releases FY2020-2021 Sustainability Report with Best Practice for ESG; Achieves Milestone Reasonable Assurance Examination by a "Big 4" Accounting Firm (Graphic: Business Wire)

The report covers the three pillars of the GUESS sustainability plan; operating with integrity, empowering people and protecting the environment. The company details its significant achievements since its first sustainability targets were announced, increasing its eco SMART GUESS denim product offerings by 18%; increasing its global, certified sustainable materials across brands; and achieving gender pay parity for both its U.S. Corporate headquarters and U.S. Retail operations. The report also highlights the company’s new "GUESS Sustainability Assurance Framework" - a robust process to collect, review and test sustainability data to ensure the consistency and comparability of nearly 100 ESG-related metrics, before sending to its external assurance provider.

"At Guess, we remain highly committed to our three main goals of our sustainability strategy: 1. Operating with Integrity, 2. Empowering our People, and 3. Protecting the Environment. Our report this year, VISION GUESS, highlights our higher standards and our expanded ESG strategy for the future. We are treating ESG reporting with a rigor typically reserved for financial reporting and we are focused on developing the right system, testing and controls to ensure proper comparability, consistency and accountability. In this year’s report we included important topics related to the environment, diversity and inclusion. In our Company, every decision we make and action we take, are with the long term in mind," says Carlos Alberini, Chief Executive Officer for GUESS?, Inc.

Sustainability targets announced in the company’s new VISION GUESS plan include replacing virgin polyester with recycled materials, increasing sustainable denim offerings to 75% within three years, reducing corporate greenhouse gas emissions by 50% and supply chain emissions by 30% by 2030. GUESS’s ambitious greenhouse gas targets have been approved by the Science Based Targets Initiative, an industry group of over 1,000 businesses leading the way to a zero carbon economy.

For more information about GUESS’s Sustainability Report, please visit sustainability.guess.com.

About GUESS?, Inc.

Established in 1981, GUESS began as a jeans company and has since successfully grown into a global lifestyle brand. Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, eyewear, footwear and other related consumer products. Guess? products are distributed through branded Guess? stores as well as better department and specialty stores around the world. As of May 1, 2021, the Company directly operated 1,041 retail stores in the Americas, Europe and Asia. The Company’s partners and distributors operated 539 additional retail stores worldwide. As of May 1, 2021, the Company and its partners and distributors operated in approximately 100 countries worldwide. For more information about the Company, please visit www.guess.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210720005251/en/

Contacts

Kaitlyn Quail
GUESS?, Inc.
212.852.0568
kquail@guess.com