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esprit news and archive

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...

Jul 10, 2020

Report

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...

Jul 1, 2020

Retail

Store reopenings in Germany and Austria indicate what awaits UK and US retailers

The first stores in Vienna and Berlin are open again, after they were forced to close about a month ago due to Covid-19. Now, fashion retailers are mainly concerned with how sales and footfall will develop over the coming weeks and months. Here are the impressions from the first days of the shop reopenings. The green shop concept Glore “In terms...

Apr 24, 2020

Fashion

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...

Mar 12, 2020

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,...

Mar 10, 2020

Management

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...

Sep 18, 2019

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...

Sep 10, 2019

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.

Jun 25, 2019

Fashion

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,...

May 7, 2019

Report

Esprit optimistic about restructuring plan despite fall in sales

Despite sales at Esprit falling 11.6 percent to 3,156 million Hong Kong dollars (402.3 million US dollars) for the first three months of the year, the company remained optimistic about its ongoing restructuring plan. The company said the large drop in sales was to be viewed “favourably” considering its 12.4 percent reduction in selling space...

Apr 30, 2019

Management

Esprit continues to struggle as first half revenues slide 14.4 percent

For the six months to December 31, 2018, Esprit Holdings Limited reported revenue of 6,766 million Hong Kong dollars (861.9 million dollars), representing a decline of 14.4 percent in local currency terms. The decline in Hong Kong dollar terms, the company said, was slightly higher at 15.8 percent due to the weakness of the euro against the Hong...

Feb 26, 2019

Fashion

Fashion giants sign UN charter to fight climate change. Will it work?

Can the biggest players in the fashion industry unite to stop global warming? The United Nations thinks so. During a conference in Katowice, Poland, UN Climate Change has announced the launch of the Fashion Industry Charter for Climate Action, a series of targets with the aim to reduce greenhouse gas emissions by 30 percent by 2030 and achieve...

Dec 10, 2018