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CST: 16/10/2019 01:42:50   

The Business of Second Chances: the Guess Corporation Revamped Into a For-Profit Social Enterprise

7 Days ago

The Guess Corporation’s Principal Founder and President Sets Goal to Employ 10,000 Individuals Released From Prison Over the Next 10 Years

MIAMI, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Each year there are over 600,000 people released from prison. It is important that released individuals obtain gainful employment to ensure successful re-entry following incarceration. The Guess Corporation has been revamped into a for-profit social enterprise committed to operating businesses that provide second chance employment opportunities to individuals released from prison. As a for-profit company, we are combining capitalism and social responsibility to create and maintain viable businesses that provide sustainable employment to those who really need it. The Guess Corporation has set a goal to employ 10,000 individuals released from prison over the next 10 years through our businesses. The Guess Corporation was launched in 2014 by Jerry D. Guess and his father, Willie L. Guess. Jerry D. Guess served federal prison time and is a convicted felon. He completed his sentence in July of 2017 and vowed to only operate businesses that make a positive impact on society going forward. The Guess Corporation’s Board of Directors approved making the company a for-profit social enterprise and committed to donating 25% of the company’s net profits to its private charitable foundations: The Guess Corporation Foundation and T.G.C. Law Foundation. The Guess Corporation provides products and services to consumers and small businesses directly and through various subsidiaries. The Guess Corporation’s principal business activities include: telecommunications, construction, real estate development, hospitality, food service, advertising, entertainment, petroleum and media. “As someone who has served federal prison time, I know firsthand the challenges and stigma associated with being a convicted felon, and I am committed to helping individuals overcome this as we believe convicted persons work harder than anyone to prove that we are worth the second chance,” said Jerry D. Guess, principal founder, senior deputy chairman and president of The Guess Corporation.

The Guess Corporation is owned by The Guess Corporation Holding Co., Inc. The Board of Directors includes: Willie L. Guess, chairman, Jerry D. Guess, senior deputy chairman and president, Kyra A. Anderson, vice-chairman and Lauren M. Hickman, lead director. The officers include: Jerry D. Guess, president, Lauren E. Peddycord, executive vice-president, chief operating officer, chief financial officer and secretary-treasurer and Mandy L. Hall, senior vice-president, general manager, controller and deputy secretary-treasurer. The company’s principal individual shareholders are Willie L. Guess, Kyra A. Anderson, Lauren E. Peddycord and Mandy L. Hall.

About The Guess Corporation Holding Co., Inc.

The Guess Corporation Holding Co., Inc. and its principal subsidiary, The Guess Corporation together operate a diversified group of businesses that provide products and services to consumers and small business customers.  As a for-profit social enterprise, we have established quotas to ensure that we provide second chance employment opportunities to individuals with criminal records. Our principal business activities include: telecommunications, construction, real estate development, hospitality, food service, advertising, entertainment, petroleum and media.  We are based in Miami, Florida. The Guess Corporation began operating in 2014 and became a for-profit social enterprise in 2017. We donate 25% of our net profits to our private charitable organizations, The Guess Corporation Foundation and T.G.C. Law Foundation.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e5b816b1-df84-43cd-9f21-8bf73f2092c2

https://www.globenewswire.com/NewsRoom/AttachmentNg/dc8c42cc-83ba-4b98-9a77-9ad69f60b7c5

https://www.globenewswire.com/NewsRoom/AttachmentNg/46c259c5-a4b0-48c6-8200-7cc1e3515cc0

https://www.globenewswire.com/NewsRoom/AttachmentNg/f3b6c240-989d-4360-a345-1fd50d9cd419

Media Contact:

Media Relations
media@theguesscorporation.com

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