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Esprit names chief product officer, says ‘exciting developments’ in pipeline

By Huw Hughes

Dec 30, 2021

Report

Image: Esprit, Facebook

Esprit has appointed a new chief product officer and has revealed a number of “exciting developments” in the pipeline to “revitalize” the brand.

Sang Langill, who joined the business in September, has been named the new chief product officer.

The brand is also set to launch a series of new capsule collections “drawing on its rich history and brand heritage” as the group adjusts its strategy to focus on its e-commerce expansion.

The company said its announcement Thursday “clearly hints at the return of the Esprit brand to the Asian market”.

It comes after Esprit relocated its headquarters back to Hong Kong earlier this year, following a major restructuring at the business following several years of falling sales.

New leadership

In October, president and executive director Mark Daley exited the company after less than a year in the top job.

Daley joined last December as part of a shake-up that saw the departure of then-CEO Anders Kristiansen, who had been at the helm since 2018, as well as then-chief financial officer Johannes Schmidt-Schultes.

Following Daley’s departure, William Eui Won Pak, who joined the company in September as executive director and chief operating officer, took on the CEO position on an interim basis.

And the restructuring seems to be bearing fruits. For the six months to June 30, Esprit recorded a turnaround from loss to profit for the first time since the annual results in 2017.

The company reported net profit attributable to shareholders for the period of 121 million Hong Kong dollars, compared to a net loss of 3.67 billion Hong Kong dollars for the same period in 2020.

ESPRIT