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Esprit set to launch new brand

By FashionUnited

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Following Esprit's last annual report, which reflected business figures that were “extremely far”

from the company's goals and expectations, Jose Manuel Martinez, CEO of the German fashion company, revealed during an interview with German journal Frankfurter Allgemaine Sonntagszeitung, plans to launch a new clothing brand next year.

The new sub-brand will be aimed at a younger consumer age group and will also be priced slightly lower than Esprit in hopes of attracting new customers. The new brand is set to first be launched as a start-up, to improve cost controls and will be trialed in the Netherlands, Belgium, Germany, Austria and Luxembourg.

“Under high pressure, we are working to make the brand more attractive. We want to be faster and strengthen our quality. The high brand awareness and Esprit’s positive image are the foundation on which we can build the future," added Martinez during his interview.

Martinez, who left Spanish company Inditex to join the Esprit team believes that the company will make a come back over the next coming months: “I expect that we will soon- maybe even next year – no longer be loss-making.” For the current 2013-2014 fiscal year, the German fashion company has forecast a further decline in turnover, but believes with its new team of former Zara employees and plans to enhance current technology and current distribution, growth is achievable in the next two to three years.





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