“We’ve lost touch with our audience”: Esprit announces major changes

Esprit wants to be an iconic brand again. While still the third favorite fashion retailer in its home country, Germany, where it registers an impressive 87 percent brand awareness, things don’t look so bright elsewhere and the company has been continuously reporting revenue decline. In a presentation for investors held in Hong Kong this Monday, Esprit recognized that a lot needs to change: “Our brand identity is inconsistent, we don’t know what we stand for”, “we’ve lost touch with our audience due to lack of consumer focus” and “Esprit is not fast fashion” are just some of the harsh realizations the retailer has come to.