Esprit news and archive

New CEO for Esprit Holdings Limited, rest of management also shaken

The management of Esprit Holdings Limited has been shaken again. The company has, among other things, found a new CEO and CPO, according to a press release. Mark Daley will assume the role of CEO. He takes over from Anders Kristiansen. Daley has over thirty years of experience in the retail industry. He has served as CEO at Billy Reid, the...

PeopleFeatured

Esprit CEO and CFO to step down

Esprit Group has announced that its CEO Anders Kristiansen [pictured] and chief financial officer (CFO) Johannes Schmidt-Schultes are both exiting the company next year. Kristiansen, who was formerly managing director of New Look, has been at the helm of Esprit since June 2018 and has led the group’s restructuring process during what the company...

Business

Esprit subsidiaries get creditor green light for insolvency plans

Apparel retailer Esprit announced Sunday the insolvency plans it developed for its six German subsidiaries have been approved by creditors and confirmed by the Dusseldorf court. The process allows “a complete restart for the group” enabled by substantial debt forgiveness for the six German subsidiaries. The company said that after the final and...

Business

Esprit sees revenue drop 24 percent

Sales at Esprit have plummeted during the pandemic, as the company posted a 23,65 percent drop in revenue. After a promising start to the year, the Hong Kong based retailer saw a tangible shrinking of its sales and profits. The group recorded revenues of 9.87 billion Hong Kong dollars (approximately 1.07 billion euros), with gross profit down...

Business

Esprit’s new shareholder North Point demands directors to resign

Esprit has announced that its new major shareholder North Point Talent Limited has proposed the removal of the company’s executive directors. Having increased its stake by 12.74 percent of Esprit’s total outstanding shares, Hong Kong-based North Point is now the Ratingen-based retailer’s largest shareholder. The company additionally demanded the...

Business

Esprit to layoff 1200 employees, close 50 stores in Germany as part of restructuring

Esprit has announced that it has received a green light from the Düsseldorf District Court for the restructuring process. The company said in a statement that the key elements of the restructuring plan include headcount reductions of approximately 1,200 employees or 20 percent of the workforce, in the range of 800 store employees in Germany, 300...

FashionPress Release

Esprit x PacSun Collaboration

Californian spirit inspired exciting design collaboration with Pacsun Ratingen/Los Angeles - (Friday, March 6, 2020) - Esprit returns to the United States with an exciting design collaboration with Southern California retailer, PacSun. The Esprit by PacSun Spring Summer 2020 collection brings a new twist on 90s silhouettes reflecting an...

Retail

Esprit rolls out new digital platform to Europe

Esprit is rolling out its revamped e-commerce platform to Europe after its successful launch in the UK in January. The new platform, which the retailer has invested around 40 million euros in, offers “a more inspiring way to connect with customers” and will be made available in Austria in the spring or early summer, then Germany in the summer,...

BusinessFeatured

Esprit's annual revenues decline by 12.9 percent

Impacted by the group’s decision to close unprofitable stores and resize the retail store footprint which led to a year-on-year reduction in total controlled space of 14.3 percent and exceptional items totalling 1,493 million Hong Kong dollars (190.7 million dollars), Esprit Holdings Limited reported revenue decline of 12.9 percent excluding the...

Retail

Esprit presents new store concept

The Esprit Holdings Ltd. has introduced its new store concept with a new store in Beijing that was opened last week. The company wants to put the customer at the heart of the shopping experience, combining California cool and a progressive point of view expressed with bold graphics, bright colors and the Memphis Group style championed by...

Video

Video: Esprit + Craig & Karl pride collection campiagn

Presenting the Limited Esprit + Craig & Karl pride collection! Show some love and celebrate the beauty of a colorful and diverse world. Source: Esprit, YouTube.

Fashion Featured

Leading fashion firms call on Cambodian government to improve labour standards

Leading fashion companies including Nike, PVH, Levi Strauss, Esprit, Adidas and Under Armour have signed an open letter to the Cambodian government urging it to improve its labour standards. The companies, who claim to contribute 9.5 billion US dollars (7.26 billion pounds) to Cambodia’s exports through their work with the country’s suppliers,...