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: Shift to licensing model results in drop in revenue

The former clothing group Esprit recorded a significant drop in revenue in the past six months. This is due to the elimination of licensing revenue from European trademark rights. Esprit continues to shrink Following the global insolvencies and closures of branches and stores last year, Esprit Holdings Ltd. in Hong Kong now only manages the...

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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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Esprit warns of significant annual loss

Apparel group Esprit Holdings Limited has concluded fiscal year 2024 with substantial losses. However, according to current findings, the deficit was not as high as in the previous year. This was revealed in an interim statement released by the company on Wednesday. Net Loss Decreases to Approximately €144 Million The past fiscal year was marked...

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Esprit's US subsidiaries file for bankruptcy

Following the collapse of activities in key European markets, the wave of bankruptcies at clothing retailer Esprit Holdings Ltd. has continued. On Monday, the group announced that its US subsidiaries Esprit US Distributions Limited (USDS) and Esprit US Retail Inc. (USRI) filed for bankruptcy on October 25. According to the company, USDS is...

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German footwear retailer Deichmann acquires Esprit's brand rights for shoes

For weeks, rumors have been circulating that Deichmann is interested in the Esprit shoe brand rights. Now the takeover has become reality. Deichmann has acquired Esprit's brand rights for shoes, the shoe retailer confirmed to FashionUnited on Tuesday. This means that Deichmann will acquire Esprit's shoe brand rights in Europe and the United...

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Deichmann shows interest in footwear trademark rights of bankrupt Esprit

Shoe store chain Deichmann is interested in the brand rights for shoes of the bankrupt fashion brand Esprit. The company confirmed this to a German press agency. "The offer concerns only brand rights and no operational business interests of the company," a spokesperson shared. According to its own statements, Deichmann has been working with...

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Esprit wipes out millions in losses through restructuring

Esprit Holdings Limited has managed to reduce its loss from 714 million Hong Kong dollars to 95 million Hong Kong dollars, the company announced citing preliminary figures. The reason for the reduction can be found in the restructuring and deconsolidation of the European subsidiaries, as read in the statement. In recent months, various...

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Esprit: What does the future hold for the former billion-dollar brand?

The Esprit brand is being taken over in Europe by London-based investor Alteri and its fashion company CBR. What will happen to the once multi-billion dollar brand? Here is what we know and don't know. The Esprit we know no longer exists The business operations behind the Esprit brand in Ratingen are being dissolved, while stores are closing in...

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Esprit rights sold to British investor Alteri, German stores to close

The brand rights of Esprit’s European business have been sold to the British financial investor Alteri, the financial terms of which were not disclosed in a press release. In light of the news, the company confirmed that it would be closing all of its 56 stores in Germany by the end of the year, with around 1,300 people losing their jobs, as...

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Mourning for Esprit: Voices from the Internet

The people behind Esprit have had a difficult week. The clothing group announced last week that it would only focus on the licensing business. Operational activities such as sales and production are to be completely handed over to a licensing partner. The approximately 1,300 employees still in Germany are now worried about their jobs because...