Exhibit 21.1  Guess?, Inc.
List of Subsidiaries (as of 1/30/10)  Investment In
  
  Location
  
  Owned By
  
  Percentage of OwnershipAix
  Verdi Sarl
  
  France
  
  ONE Sarl
  
  100
  %Avignon
  Le Pontet Sarl
  
  France
  
  ONE Sarl
  
  100
  %Focus
  Europe S.r.l.
  
  Italy
  
  Guess? Europe,
  B.V.
  
  75
  %(1)Guess?
  Apparel Retail, B.V.
  
  Netherlands
  
  Guess? Europe,
  B.V.
  
  100
  %Guess
  Apparel Spain, S.L.
  
  Spain
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Asia Limited
  
  Hong Kong
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Asia Limited (Hong Kong)
  (Taiwan Branch)
  
  Taiwan
  
  Guess? Asia
  Limited
  
  100
  %Guess?
  Bermuda Holdings, LLC
  
  United States
  
  Guess?, Inc.
  
  100
  %Guess?
  Bermuda Holdings, L.P.
  
  Bermuda
  
  Guess?, Inc.
  
  99
  %(2)Guess?
  Canada Corporation
  
  Canada
  
  Guess?
  Euro-Canada, B.V.
  
  100
  %Guess
  Canary Islands, S.L.
  
  Spain
  
  Guess Apparel
  Spain, S.L.
  
  51
  %(3)Guess.com, Inc.
  
  United States
  
  Guess?, Inc.
  
  100
  %Guess?
  Deutschland GmbH
  
  Germany
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Euro-Canada, B.V.
  
  Netherlands
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Europe, B.V.
  
  Netherlands
  
  Guess? Bermuda
  Holdings, L.P.
  
  100
  %Guess
  Europe Sagl
  
  Switzerland
  
  Guess? Europe,
  B.V.
  
  99
  %(4)Guess
  France S.A.S.
  
  France
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Holdings Korea Limited
  Liability Company
  
  Korea
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  IP GP LLC
  
  United States
  
  Guess?
  Licensing, Inc.
  
  100
  %Guess?
  IP Holder L.P.
  
  United States
  
  Guess? IP LP LLC
  
  82.7
  %(5)Guess?
  IP LP LLC
  
  United States
  
  Guess?, Inc.
  
  100
  %Guess
  Italia S.r.l.
  
  Italy
  
  Guess? Europe,
  B.V.
  
  100
  %Guess
  Jewelry Sagl
  
  Switzerland
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Licensing, Inc.
  
  United States
  
  Guess?, Inc.
  
  100
  %Guess
  Macau, Ltd.
  
  Macau
  
  Guess? Asia Ltd.
  
  96
  %(6)Guess?
  Retail, Inc.
  
  United States
  
  Guess?, Inc.
  
  100
  %Guess
  Service S.r.l.
  
  Italy
  
  Guess? Europe, B.V.
  
  100
  %Guess?
  (Shanghai) Limited
  
  China
  
  Guess? Asia
  Limited
  
  100
  %Guess
  Sud S.A.S.
  
  France
  
  Guess France SAS
  
  60
  %(7)Guess
  Swiss Sagl
  
  Switzerland
  
  Guess? Europe,
  B.V.
  
  99
  %(8)Guess
  U.K. Limited
  
  United Kingdom
  
  Guess? Europe,
  B.V.
  
  100
  %Guess?
  Value LLC
  
  United States
  
  Guess?
  Retail, Inc.
  
  100
  %Grupo
  Guess, S. de R.L. de C.V.
  
  Mexico
  
  Guess? Europe,
  B.V.
  
  51
  %(9)Lyon
  Herriot Sarl
  
  France
  
  ONE Sarl
  
  100
  %Marlit
  Sarl
  
  France
  
  ONE Sarl
  
  100
  %Montpellier
  Sarl
  
  France
  
  ONE Sarl
  
  100
  %ONE
  Sarl
  
  France
  
  Guess Sud S.A.S.
  
  100
  %Toulouse
  Blagnac Sarl
  
  France
  
  ONE Sarl
  
  100
  %Ydile
  Sarl
  
  France
  
  ONE Sarl
  
  100
  %  
 (1)The remaining 25% is
owned by Focus Pull SpA, an Italian company (2)The remaining 1% is
owned by Guess? Bermuda Holdings, LLC (3)The remaining 49% is
owned by Depositos Almacenes Numero Uno, S.A. (4)The remaining 1% is
owned by Guess? Apparel Retail, B.V. (5)The remaining 17.3% is owned by
Guess? IP GP LLC (6)The remaining 4% is
owned by Guess? Holdings Korea Limited Liability Company (7)The remaining 40% is
owned by Sebastien Chiche (36%) and Anne-Flor Chiche (4%), individuals (8)The remaining 1% is
owned by Guess Italia, S.r.l. (9)The remaining 49% is
owned by Adivina S.A. de C.V., a Mexican company