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Retail Asia26/09/2022

Esprit has announced London and New York as two new locations for its Futura innovation hubs. Futura is part of its digital strategy to “reinvent customer engagement experiences by turning data into insights, fuelling the brand’s global expansion matched to the fast-growing scale of digital change in today’s fashion retail landscape”. As part of its wider […]

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Retail Asia23/08/2022

The Hong Kong-listed fashion retailer says it estimates its profit attributable to shareholders for the year to Dec. 31 to reach approximately $47 million. This would mark the company’s first full-year net profit since 2017. Esprit has changed its financial year, so comparisons are not directly comparable. But for the six months to Dec. 31, […]

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Retail Asia31/03/2022

After flagging an expected return to profitability for the full year earlier this month, Esprit on Wednesday announced its final results and said that revenues rose to HK$8.3 billion (€953m/£808m/US$1bn) in 2021. It didn’t give a comparable revenue figure but said that net profit surged “significantly” to $381 million. The company had made a $414 million loss […]

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Retail Asia28/10/2021

Esprit CEO, president, and executive director Mark Daley has exited the company after less than a year at its helm due to personal family matters. “Mr Daley has confirmed that he has no disagreement with the board and there are no matters in relation to his resignation that need to be brought to the attention […]

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Retail Asia24/09/2021

Hong Kong-listed apparel brand Esprit has appointed an experienced lawyer as its new COO to help continue to drive the brand’s renaissance. After four years of rolling losses exceeding US$1 billion, Esprit issued a shock profit warning last month projecting its first half year in the black since 2017. It lost US$503 million in the […]

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Retail Asia13/08/2021

Apparel retailer Esprit says it is on track to record its first profitable half year since the second part of 2017. In a positive profit alert filed with the Hong Kong stock exchange the embattled retailer – which lost US$463 million in the six months to June last year, mainly through writedowns – says it […]

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Retail Asia25/03/2021

As the world faces this pandemic in unified isolation, we at Fashion Revolution are focusing on how the unfolding situation is affecting the people who make our clothes. Retailers are shutting their doors around the world, encouraging their customers to shop online instead. Yet the reality is that as we are forced to stay in […]

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Retail Asia12/01/2021

Esprit has unveiled a new management team in its latest attempt to resuscitate the brand, with Mark David Daley now installed as chief executive officer. Daley, 56, is described by Esprit as a 30-year retail industry veteran and was most recently the ceo at the fashion brand, Billy Reid. He has held the ceo position at […]

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Retail Asia22/12/2020

Esprit Group has announced that its CEO Anders Kristiansen and chief financial officer (CFO) Johannes Schmidt-Schultes are both exiting the company next year. Kristiansen, who was formerly managing director of New Look, has been at the helm of Esprit since June 2018 and has led the group’s restructuring process during what the company describes as […]

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Retail Asia01/10/2020

Esprit has been facing difficult times much before the pandemic started owing to enfeebled sales and has now warned shareholders that it will be posting a loss of US $ 503.2 million in its annual report slated to release late next month. The European entities of the retailer are already under statutory administration and its […]

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Retail Asia17/08/2020

Enfeebled clothing retailer Esprit has just advised shareholders it expects to post a loss of US$503.2 million when it releases its annual results late next month. With its European subsidiaries operating under a form of statutory administration and its shares trading for 12 cents each in Hong Kong today, many investors must by now be […]

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Retail Asia13/07/2020

Hong Kong-listed apparel retailer Esprit is facing a boardroom stoush seeking the immediate removal of CEO Anders Christian Kristiansen who is leading a restructuring of the long-ailing business. Trading in Esprit shares was suspended yesterday and this morning the company revealed that North Point Talent Ltd, now its largest shareholder with a nearly 13-per-cent stake, […]

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Retail Asia06/07/2020

Apparel chain Esprit will axe 1200 employees globally, including 100 in its Hong Kong office and 800 store employees in Germany as part of its ongoing restructuring program. A permanent reduction in salaries and benefits will be imposed on all remaining staff, except for those working in stores. Esprit has received court approval to open […]

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Retail Asia29/04/2020

Crippled apparel group Esprit is to close all its stores in Asia, except those in Mainland China, by the end of June. The decision follows an appalling slump in sales during the last nine months, which worsened during the March quarter when the Covid-19 crisis hit, forcing retail stores to close or reduce trading across […]

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Retail Asia09/04/2020

Fashion label Esprit has opened its first Esprit Bodywear concept store in an exclusive partnership with Dutch group Van Keulen Retail. Located in downtown Hilversum in the Netherlands, the new 140sqm store showcases the brand’s lingerie, swimwear, sportswear, nightwear and loungewear collections. The first store of its kind for the brand in the world, it […]

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Retail Asia31/03/2020

Hong Kong-listed apparel retailer Esprit has placed six German subsidiary companies in administration to give them protection during the coronavirus crisis, which has decimated sales. The move was finalized at the end of last week while the company’s shares were suspended from trading. The measure, called Protective Shield Proceedings under the German Insolvency Act, allows […]

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Retail Asia19/03/2020

Fast-fashion retailer Esprit says foot traffic into its stores worldwide have evaporated in the wake of the coronavirus pandemic and warned shareholders to expect a “considerable loss”. Public health initiatives enacted in many countries across the world aimed at slowing the spread of the pandemic have resulted in the closure of “a significant number of […]

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Retail Asia18/03/2020

Fast-fashion retailer Esprit says foot traffic into its stores worldwide have evaporated in the wake of the coronavirus pandemic and warned shareholders to expect a “considerable loss”. Public health initiatives enacted in many countries across the world aimed at slowing the spread of the pandemic have resulted in the closure of “a significant number of […]

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Retail Asia28/02/2020

Embattled fashion label Esprit posted another loss in the December half-year, as sales plunged by HK$1 billion – largely due to a major store cull in Asia. Esprit recorded a loss of HK$331 million (US$42.46 million) for the period, compared with a $1.773 billion (US$227 million) deficit in the December 2018 half. The previous year’s […]

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Retail Asia23/01/2020

A key executive hired as part of fashion label Esprit’s turnaround plan has quit unexpectedly after just one year in the role. The company revealed in a stock-exchange announcement that chief product and brand officer Mia Ouakim has stepped down from her role at the group to pursue her career outside the company. The former […]

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