The Guess Corporation Releases Planned Interior Design For Gas/C-stores and Announces Operating Partner Plan
The Guess Corporation is pleased to release the planned interior design for its gas/convenience store chain. The design created by Scott+Cormia features an open layout that is similar to that of a small grocery store. The design allows the company to achieve its objective of an upscale store with a boutique feel for the gas/convenience store market. Each store will have a sitting area along with a dining area for an in-store deli/restaurant and an upper level that overlooks the lower level of the store. The gas/convenience stores will be known as GP Express and employees will be assigned to sections of the store and equipped with mobile payment devices so that customers do not have to visit the main register for check-out. Employees will also wear uniforms with aprons and be required to carry bags to the vehicles of customers. The stores will also offer full-service fueling, attendants will be available to pump gas for customers without them having to get out of their vehicle. "We are pleased to share more information on this exciting undertaking as The Guess Corporation continues working toward revolutionizing the gas/convenience store industry with an upscale experience that we believe customers will welcome," said Cutie Shrestha, Senior Executive Vice-President/Chief Development Officer of The Guess Corporation. Scott+Cormia is The Guess Corporation's exclusive architect and is overseeing its designs for the GP Express and will handle nationwide construction/project management as stores are built or renovated as part of an acquisition.
Today, The Guess Corporation is also announcing that it will begin accepting applications from individuals who wish to become approved operating partners for GP Express locations. Operating partners will be allowed to own up to 40% of a GP Express store location. Operating partners must be individuals and they will only be allowed to own a partnership stake in one store. They will be known as the Managing Partner and will maintain an office on-site and be required to supervise the store's management to ensure that the operation is successful and profitable. Operating partners will receive up to 40% of the profits of the store they operate on a monthly basis. Candidates for an operating partnership with The Guess Corporation's GP Express will need to: (1) have a liquid net worth of $750,000.00 (excluding real estate), (2) have at least five (5) years of experience in the retail industry (3) have a clean background and (4) college degree. Operating partners will be required to participate in an equity contribution program over a specified period of time and must formally apply for the opportunity by filling out an application, submitting an application fee and submitting to a full background check. If approved, operating partners will undergo a rigorous 90 day training program and work with the company's real estate broker on site selection and will oversee construction locally and facilitate the launch of the store in which they will become an operating partner. The Guess Corporation's petroleum unit, Guess Petroleum, Ltd. will cover the majority of the construction and operating costs for each location and will reserve the right to terminate operating partner contracts and appoint a replacement operating partner. All planned 1,000 locations will have an operating partner, The Guess Corporation will accept applications through its Office of Corporate Affairs beginning August 26, 2016. Separately, The Guess Corporation will allow GP Express to develop an EB-5 program for immigrants pursuing viable business opportunities in the U.S. that will allow foreign nationals to become operating partners as part of the U.S. investor visa program.
- North Carolina
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