Exhibit 10.75


February 20, 2004


Mr.
Michael G. Relich


18468
Santa Alberta Circle


Fountain Valley, CA 92708


Dear Mr. Relich:


I am very pleased to extend to you an offer of employment at GUESS?,
Inc. as Senior Vice  President/Chief
Information Officer.  In this position
you will report to me.  Your start date
will be determined upon mutual agreement at a later date.  This is a very exciting area of the Company
that offers many opportunities, and we feel you would be an excellent addition
to the team.


The terms of your
offer are as follows:


1.               Base salary of
$325,000.00 per year, with exempt status, paid in accordance with the Company’s
normal payroll practices.


2.               You will be
eligible to participate in GUESS?, Inc.’s
Executive Bonus Plan, which currently bases awards primarily on Company
financial objectives.


3.               Medical, dental,
life, disability and vacation benefits commensurate with your position at
GUESS?, Inc. You will be eligible to participate in the GUESS?, Inc. 401k Savings Plan following the completion of your
first year of service.  You will be
provided with a summary and details of these benefit plans.


4.               Subject
to approval by the GUESS?, Inc. Compensation Committee at its next meeting you
will be granted non-qualified options to purchase 60,000 shares of the common
stock of GUESS?, Inc. with an exercise price equal to the NYSE closing price on
the grant date.  Such stock options will
vest over a four-year period as follows: 
one-fourth of your options will
vest on each anniversary of the date of grant until fully vested.









 



5.               Subject to your signing of a restricted stock
agreement with standard terms and conditions for restricted stock awards as
determined by the GUESS?, Inc.’s Compensation Committee at its next meeting,
you will be granted 20,000 shares of restricted stock.  Among other conditions, you will be required
to (a) pay the par value of your restricted stock on the date of grant and (b)
your restricted stock will vest over a three-year period.


6.               If GUESS?, Inc.,
should terminate your employment at any time for any reason, other than for
cause, you shall be entitled (subject to the execution of the Company’s
standard Settlement and Release Agreement) to payments in the amount of four
months base salary (at the rate of the date of termination), paid in accordance
with the Company’s normal payroll practices. 
If you begin full-time employment, part-time employment or consulting
engagements prior to the end of such four month period following your
termination, which includes compensation in an amount equal or greater than
your compensation at GUESS?, Inc., any payments due to you under this
subsequent paragraph shall be forfeited. If you accept and begin employment
prior to the end of the four month period at a salary lower than your base
salary at GUESS?, Inc., GUESS?, Inc., will pay you the difference in
compensation for this period.


In accordance with
government regulation, all new employees must present eligibility to work.  On your first day of employment, please bring
in documents to establish both identification and employment eligibility from
the attached list of acceptable documents (Form I-9).  If you are unable to present these documents,
you will not be able to commence employment.


Please indicate
your acceptance of this offer by signing at the end of this letter and
returning it to me in the envelope provided. The other copy is yours to keep.


We look forward to
your joining us at GUESS?, Inc., and
having a prosperous future together. Please feel free to contact me if
you have any questions.


	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Carlos
  Alberini

  	
   

  
	
  Carlos Alberini

  	
   

  
	
  President /
  C.O.O

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  AGREED &
  ACCEPTED

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Michael
  Relich

  	
  3/5/04

  	
   

  
	
  Michael Relich

  	
  Date

  



 



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