US clothing giant expanding in Russia – media ...News

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US clothing giant expanding in Russia – media
Guess is consolidating its business in the country, Kommersant reports American fashion brand Guess has reacquired its stake from a Russian partner in what experts have described as an unusual deal for the fashion market in the sanctioned country, Kommersant reported on Thursday.   The clothing manufacturer and retailer reportedly bought back its 30% share from local partner Vyacheslav Shikulov for €8 million ($8.5 million), and has consolidated 100% of its Russian business after the deal was approved by the US Treasury Department.    At the end of 2015, the parties signed a ‘put option’ agreement which provided S

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