Esprit news and archive

Esprit reduces annual loss following restructuring

Apparel provider Esprit presented its financial results for the first fiscal year following its major restructuring on Monday. After divesting the majority of its operational business, the parent company, Esprit Holdings Ltd., is now focusing entirely on a licensing model for the once-popular brand. Consequently, losses were significantly lower...

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Esprit leadership resigns: William Pak and Christin Su Yi Chiu to exit group

Esprit continues to face turmoil. Following the insolvency of its European entities and a shift away from its traditional retail model, Esprit Holdings Limited has announced further significant changes to its senior management just before the year's end. The Hong Kong-listed fashion group has announced that chairwoman Christin Su Yi Chiu and...

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Esprit 2024 financial results: Focus shifts to licensing after losses

Clothing retailer Esprit Holdings Ltd. released its final results for the 2024 financial year on Monday evening, after a considerable delay. The figures were affected by the ongoing insolvency proceedings of almost all international subsidiaries and the resulting one-off effects. As part of the restructuring efforts and a shift in the business...

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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...

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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...

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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...

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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...

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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...

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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,...

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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...