The Guess Corporation was founded in 2012 by Jerry D. Guess and Willie L. Guess. A privately-held North Carolina corporation, the company was started to acquire other businesses. The Guess Corporation commenced operations in September of 2014. The company completed acquisitions valued at over $7 million within one year. One of the acquired companies was a retail and wholesale perfume chain generating over $23.5 million in annual revenue. In 2016, The Guess Corporation expanded its focus to launch luxury-oriented businesses. The company introduced an upscale convenience store and restaurant chain. The Guess Corporation's ventures have been covered by national media including: USA Today, The Wall Street Journal UK Daily Mail Vice and Money.
In October of 2017, The Guess Corporation reorganized and became a social enterprise company. While we remain a for-profit company, our business model has changed to allow us to be a mission-driven organization. Through our operating companies, we have established quotas to employ disadvantaged persons: individuals with criminal records, individuals with disabilities and welfare recipients. We are proudly an equal opportunity and second chance employer.
Our parent company is The Guess Corporation Holding Co., Inc., a North Carolina corporation. We are headquartered in Miami, Florida. Jerry D. Guess controls 45% of the company through a personal holding company and Willie L. Guess, Kyra A. Anderson and Lauren E. Peddycord are our largest individual shareholders. We are governed by a Board of Directors and day to day operations are managed by senior officers of the company. As of August 2019, we have no long-term debt obligations.
As part of our commitment to social responsibility, The Guess Corporation Holding Co., Inc. has two private charitable foundations: The Guess Corporation Foundation and The T.G.C. Law Foundation. We contribute 25% of our net profits to our foundations for the purpose of providing grants and assistance to crime prevention, at-risk youth and re-entry assistance.
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