There must not have been enough closet space in his humble abode.
Paul Marciano, co-founder and former executive of Guess, sold his Beverly Hills estate on Hartford Way in an off-market transaction valued at $18.25 million, the Los Angeles Times reported. The property hit the market in February 2016, asking nearly $20 million.
The Mediterranean-style gated home includes six bedrooms and six bathrooms spread out over nearly 9,150 square feet of living space. A landscaped yard, swimming pool, motor court, and cigar and wine rooms complete the estate.
Records show he bought the property nearly 20 years ago for $5.125 million. The estate recently rented for as much as $55,000 a month.
Marciano, who co-founded Guess Jeans with his brothers in 1981, left his post as chief executive of the denim giant two years ago. He and his brothers have since launched GM Studio, a new fashion brand founded in collaboration with Italian designer Cinzia Simone. [LAT] – Natalie Hoberman