Paul MarcianoCREATIVE DIRECTOR

Leslie Oki-YoshimuraART DIRECTOR

Esther KimJennifer Lee

Christine LinJason Ward

GRAPHIC DESIGNERS

Lisa Sullivan GuerreroApril Klimack

EDITORS

Karen DickinsonMaria Ferrari

Rachael GreeneJennifer Hoen

Tricia MarinaroLee McClellan-Karp

Steve NicholasJenna RodighieroLilit Shaghoian

Todd SilverCONTRIBUTORS

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6MUCHMUSICVIDEO AWARDS

11GUESS BY MARCIANOAD CAMPAIGN

22INTERNATIONAL /ASIA

CORPORATE PHILANTHROPY24

4G BY GUESS LAUNCH

MARIE CLAIRE8

10M LOYALTYPROGRAM

20INTERNATIONAL /EUROPE

WHOLESALESEMINAR14

16DIVISIONALMEETINGS

GLOBALGUESS12

CONTENTS

SUMMERINTERNSHIP19

18FACES TO WATCH

Maurice Marciano Paul Marciano

Aft er a record-breaking 2006, GUESS is poised to reach even greater heights in 2007. As we enter the Back-to-School season, we remain committ ed to investing in the global growth of the brand and the strength of our product and image.

Th e global reach of GUESS is evident through our international retail expansion, the globalization of the GUESS website, as well as our worldwide philanthropic eff orts. Giving back to our community, protecting the environment, and assisting humanitarian eff orts are only some of the ways in which GUESS is making a diff erence.

Our products and advertising campaigns showcase the exceptional quality and style for which GUESS is known the world over. Especially exciting is the launch of GUESS Collection timepieces, an upscale line produced exclusively in Switzerland. Another important launch is that of G by GUESS. Th e store is a retro yet modern space showcasing fashion for the aspiring GUESS customer – we are excited to witness its birth.

Th e evolution of GUESS over the past 25 years would not be possible without the devotion of our customers. Retaining and rewarding them is a crucial priority and with that, we are proud to debut the M Loyalty Program in Fall 2007. A similar program is in development for the GUESS retail stores.

You have undoubtedly heard us use the term “Dream On” throughout the year. It is with this focus that we dream bigger and aim higher. Our success has everything to do with our dedicated employees and partners worldwide who share our passion. Th e GUESS family is the foundation of every achievement and we are thankful for your talent, drive, and dedication.

We look forward to the months ahead and another fantastic year.

LETT ER FROM

MAURICE & PAUL MARCIANO

GAZETTE FALL 2007 / G BY GUESS

LAUNCH

BY GUESS

With the lights turned down and music turned up, the G by GUESS store entices

its customer with a cool, comfortable environment complete with everything they

need for a night out. The images throughout the store make each customer feel like they, too, just

stepped out onto the pool deck somewhere in the Hollywood Hills.

The G by GUESS concept was created to off er young, fashion-forward customers modern, sexy fashion at an attainable price. Still in its test phase, 28 stores have been rolled-out in key retail locations throughout the country. The store setting has a lounge feel with retro-style furniture and a modern twist that includes the latest technology. The customer is drawn in by monthly, custom-developed videos projected behind the cashwrap.

G by GUESS is centered on staying in touch with its customer and monitoring what’s exciting

in each store’s particular community. Every store has a “Pulse” board in its stockroom

where associates post information about the latest buzz-worthy products, events,

and issues important to their customers. The marketing imagery is unique in

its illustrations, rather than using photographs of models. The

campaign was created by Monsieur Z,

a French illustrator known internationally for his streamlined characters, architectural forms, and elegance.

Special grand-opening events, complete with local DJs and models showcasing current looks, set the stage for an exciting future for each store and the G by GUESS brand.

North County G by GUESS store

North County G by GUESS store

G by GUESSLakewood Grand Opening Party

Darin Skinner and Store Manager Kim Walker

Guests at the Grand Opening parties were treated to G by GUESS Gift Bags and logo cookies

G by GUESS District Managers David Hart, Amy Torres, Denise Frontera and Sarah Czar

On June 16 and 17, 2007, GUESS teamed up with On3 Productions for one of the most popular music events of the year – the MuchMusic Video Awards! Held annually in Toronto, over 6,000 fans gathered to sneak a peek at their favorite musicians and celebrities hitting the red carpet and performing on stage.

Music07GUESS Rocks the MuchMusic Video Awards

Actress Amber Tamblyn loving her new GUESS booties backstage at the MuchMusic Awards in Toronto, Canada.

GUESS Footwear was the sole brand gifting shoes to celebrities and tastemakers alike at the offi cial backstage gift lounge at the MMVAs. Trendsetting GUESS Footwear such as the Danella, Merri, and Clancy were given to presenters, performers and celebrity guests including Amber Tamblyn, Avril Lavigne, Emilie de Ravin, Fergie, Joss Stone, and renowned blogger, Perez Hilton! Hit pop/rock bands such as Alexisonfi re, Finger Eleven, Maroon 5 and Sum 41 also scored some of the hottest styles of the season from GUESS.

MUCH MUSIC7

Musician Joss Stone became obsessed with her new GUESS shoes backstage at the MuchMusic Awards. She left with seven pairs!

Pop sensation Fergie was very excited with her new animal-print pony hair pumps from GUESS backstage at the MuchMusic Awards. She couldn’t decide which shoe to choose, so she took two styles!

On Wednesday, July 18, 2007 GUESS partnered with Marie Claire magazine to host the SUPER ROLE MODEL event – a New York City gallery event toasting some of fashion’s most famous faces. Held at the Big Apple’s renowned MILK Gallery, the event’s exclusive guest list included GUESS VIPs, New York’s fashion elite, local tastemakers, celebrities and of course supermodels!

Helena Christensen, acclaimed model and photographer, was featured as a “guest photographer” for Marie Claire’s August issue, shooting an attractive photo spread of some of today’s hottest supermodels in denim, including high-profi le names such as Naomi Campbell, Lydia Hearst, Iman, Liya Kebede, Petra Nemcova, Molly Sims and Christy Turlington. Leading up to the event, each participating supermodel was gifted a stunning GUESS Collection timepiece, personally engraved with her initials.

A retrospective of 25 years of photos from past GUESS advertising campaigns were also exhibited and auctioned, with all proceeds benefi ting the non-profi t organization Invisible Children. These iconic GUESS images were an eye-catching part of the show, generating approximately $3,450 for the chosen charity. Alongside the GUESS images, a selection of Helena’s Supermodel Photographs were showcased on the gallery walls, with the proceeds benefi ting the respective models’ favorite charities.

The star-studded charity event attracted phenomenal guests including Marie Claire’s Editor-In-Chief, Joanna Coles, and VP/Publisher, Susan D. Plagemann, as well as Helena Christensen, Liya Kebede, Iman, Sean Penn, Diego Garcia and Leven Rambin.

GAZETTE FALL 2007 / A STARRY NIGHT

Classic, yet adventurous GUESS images displayed on the gallery wall were a show-stopping hit throughout the night.

STARRY NIGHT9

Jessica Fels and Stephanie Jungbluth, from the GUESS corporate team, took a minute to pose with Executive VP/Chief Marketing Offi cer of Hearst, Michael Clinton, Marie Claire’s Editor-In-Chief, Joanna Coles, and VP/Publisher, Susan D. Plagemann.

Supermodel Liya Kebede made an appearance in honor of her featured image.

VIP actor, Sean Penn, posed with guest photographer, Helena Christensen, once inside the party.

GAZETTE FALL 2007 / GUESS.com

On June 13, 2007, a new, global GUESS.com was launched with an abundance of exciting advancements. Features such as the ability to choose multiple language translations, the addition of regional news and events, as well as local store fi nders add to the site’s global experience. The overall goal of the new GUESS.com is to provide a common platform to showcase and support existing company initiatives, as well as foster future global expansion opportunities.

The design is clean, stylish, and beautiful. It elegantly showcases the brand and lifestyle through a story of images that are uniquely GUESS. Built with state-of-the-art technology, the site’s design and content can

be updated quickly and translated into more than eight languages. Depending on the country a visitor selects, he or she will have the opportunity to view the site in English, French, Quebec French, Italian, Russian, Spanish, Traditional Chinese, Simplifi ed Chinese, or Korean languages. Plans for 2008 include adding translation into German, Japanese, and more.

Over a quarter of a million people residing outside of the United States and Canada visit GUESS.com every month. Although currently online purchases are only shipped to the U.S. and Canada, the new

site provides a more personal and relevant brand experience for those visitors who want to interact with the GUESS brand.

In addition to the country-specifi c content sites, GUESSkids.com was revamped and incorporated into the new GUESS.com. GUESSadvertising.com was consolidated into GUESS.com; soon all of GUESSinc.com will be merged into the site.

The natural next step to ONE WORLD | ONE BRAND was One Website. The new GUESS.com is one global network of websites, complete with everything GUESS!

]GUESS.com13

www.GUESS.com Global Home Page

“About GUESS” Section on the Russian Site

GAZETTE FALL 2007 / AD CAMPAIGNGUESS

GUESS

GUESS

GUESS

GUESS

GUESS

GUESSTRA INING

CAMP

BACK-TO-SCHOOL

DIVISIONAL MEETINGS

Jeff Frost, Chuck Benson, David Chiovett i, Greg Moreau and David Metz

Factory Platinum Managers put their sailing skills to the test

MARCIANO SETS ITSELF APART

David Chiovett i, Director of Stores, US Retail and Marciano; Greg Moreau, Director of Stores, Canada Retail and Marciano; and Francine Puro, Regional Director of Marciano hosted the fi rst Marciano Division Meeting at Th e Standard Hotel in Los Angeles, California. Att endees included district managers, district managers-in-training and select store managers from the Marciano division.

Att endees heard from the Marciano Design, Merchant and Visual Merchandising teams about fall product, holiday strategies and visual standards. Skill-building workshops focused on eff ective scheduling and recruiting, while clienteling prepared att endees to deliver the Marciano Customer Experience to their teams. Att endees were also introduced to the M Customer Loyalty Program which will be launched in all Marciano stores later this year.

FACTORY AND G BY GUESS SAIL THROUGH BACK-TO-SCHOOL

Darin Skinner, Vice President of Operations, Factory and G by GUESS, hosted the Factory and G by GUESS Back-to-School Meetings at the Renaissance Hotel in Long Beach, California. Att endees included regional directors, district managers, district managers in training, area brand managers, lead district training managers and Platinum store managers from the Factory division.

A sailing teambuilding activity required Factory att endees to communicate eff ectively, work as a team and assign roles based on talent and skill. A designing denim teambuilding activity gave G by GUESS att endees an opportunity to design their own jeans in the corporate laundry facility. A fashion show that showcased Factory and G by GUESS fall styles and product rotations, presented by the Factory merchant teams, highlighted big ideas for Back-to-School. Th e meeting wrapped up with both teams strategizing to create a simple, successful and fun Back-to-School season.

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DIVISIONAL MEETINGS

TRA INING CAMP

RETAIL REGION ONE RETAIL REGION TWO

RETAIL REGION THREE

RETAIL CONTINUES TO DREAM ON…

David Chiovett i and Greg Moreau hosted the Retail Back-to-School Meeting at Th e Island Hotel in Newport Beach, California. Att endees included regional directors, district managers, district managers-in-training, area brand managers, lead district training managers and Platinum store managers from the Retail division.

Att endees viewed fall product and learned the strategies of each department during product rotations presented by the Retail buyers, allocators, designers, visual merchandisers and planners. A teambuilding activity had regions going head-to-head in beach volleyball. Teamwork and team spirit were the keys to this activity! Th e fi nal day of the meeting consisted of regional strategic planning sessions which allowed att endees to share best practices and create action plans for third quarter success.

RETAIL CANADA

Faces To Watch winners Samuele Fragiacomo, Darina Cherednichenko, Serinda Swan and Cristiaan de Ravalet

FACES TO WATCH:Ultimate Global Model Search

The fi nalist contenders consisted of 10 men and 10 women and represented over 17 countries including Thailand, Canada, the United Kingdom, Korea, Italy, South Africa, Canada, France, Russia, USA, Brazil, Holland, Australia, Switzerland, Spain, Indonesia and India. Paul Marciano led the panel of judges that included Cindy Livingston and past GUESS model, Bree Condon.

After an impressive runway show boasting solid competition, Paul Marciano commented on the extraordinarily hard task of selecting who would be the next Faces to Watch, making the surprise announcement:

“We couldn’t make up our mind on one winner, we had to pick two winners. So we are choosing two men and two women.” With that, Paul Marciano and Sequel AG announced the next faces of GUESS Watches: Female Winners: Serinda from CanadaDarina from Russia

On the evening of April 15, 2007, the FACES TO WATCH: Ultimate Global Model Search came to a spectacular close in Basel, Switzerland. Over 600 distributors, retailers and international press members crowded under the massive white tents of the BASELWORLD Watch and Jewellery Show to watch the fi nals.

Joined by Paul Marciano, CEO and Creative Director of GUESS?, Inc., Cindy Livingston, CEO and President and John Marcheschi, Senior Vice President International Sales and Marketing of Sequel AG, the international audience enjoyed a champagne reception prior to the GUESS fashion show that unveiled the 20 fresh-faced fi nalists from around the world.

Dressed in exquisite apparel from the Fall ‘07 european GUESS by Marciano collection, the Faces to Watch fi nalists’ looks were completed with GUESS Watches and GUESS Jewellery from the Fall ‘07 “On the Wild-Side” Collections, the same collection featured at the BASELWORLD show.

A NIGHTTO REMEMBER

Basel,Switzerland

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Does the opportunity of a lifetime entice you? Are you passionate about GUESS? Apply for the GUESS summer internship program and jumpstart your future!

The GUESS summer internship program is designed for college students in their junior or senior year looking to gain valuable experience within every major corporate department. Located in Los Angeles, California, positions are offered in various fi elds including Accounting/Finance, Advertising, Design, E-commerce, Human Resources, Legal, Licensing, Merchandising, MIS, Marketing, Production, Recruiting, Buying, and Sales.

Every intern receives a well-rounded experience that includes hands-on projects as well as out-of-offi ce activities that prepare students for their post-college careers. Apply for the 2008 summer internship program and grow with GUESS!

left to right: Joanna Piacenza, Courtney Layne, Brittany Kucera

left to right: Ryan Gish, Jenna Rodighiero, and Brittany Kucera

19Male Winners: Samuele from ItalyCristiaan from Holland

The winners fl ew to Los Angeles in June 2007 and starred in the photo shoot by Yu Tsai, GUESS photographer. They will appear in the GUESS Watches holiday catalog due out later this year.

Paul Marciano and Faces To Watch fi nalists

Faces To Watch fi nalists at the GUESS Watches booth, Basel Fair Watch and Jewellery Show 2007

Faces To Watch fi nalists