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Tag: esprit

Retail Asia20/01/2020
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Fashion

New partner signed to manage Esprit Kids range

1min0
Hong Kong-headquartered fashion brand Esprit has signed with Kids Fashion Group (KFG) to manage the firm’s design, production, and distribution of the Esprit Kids collection. The new contract follows the end of a five-year agreement with French childrenswear retailer Groupe Zannier, which has managed Esprit’s childrenswear brand since first signing in 2015. KFG’s first Esprit Kids collection […]
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Retail Asia14/11/2019
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Fashion

Esprit results signal looks promising

3min0
Embattled fashion retailer Esprit believes its first-quarter results prove its restructuring program is on track. The Hong Kong-listed company recorded a year-on-year global sales decline of 10.8 percent in local currency terms. But in a stock-exchange filing, the company said the pressure from falling sales was “more than compensated by significant cost savings which led […]
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Retail Asia02/10/2019
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Fashion

Another huge loss for retailer Esprit

4min0
More writedowns and restructuring costs have seen fashion retailer Esprit post another full-year loss, but the company is adamant its recovery plan is beginning to show results. With fewer stores, sales were down in all of its markets, but executive chairman Dr Raymond Or told shareholders in results filed overnight that the second half-year showed […]
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Retail Asia16/05/2019
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Fashion

Esprit’s restructuring shows first Results

3min0
Esprit’s restructure is beginning to pay off, the company says, despite another quarterly same-store-sales decline. For the three months to March 31, Esprit sales were HK$3.156 billion (US$402.3 million), down 11.6 per cent in local currency on the same period a year earlier. However, the company said that marks an improvement on the 12.4 per […]
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Retail Asia01/03/2019
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Fashion

Esprit’s loss in line with forecast

5min0
Fashion retailer Esprit shuttered 91 stores in the six months to December and recorded a loss of HK$1.773 billion (US$225.876 million). While the loss is massive, it is within the estimates Esprit provided at an investor presentation last November when it unveiled its rescue strategy for the embattled Hong Kong-listed brand. The 91 stores closed during […]
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Retail Asia27/02/2019
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Fashion

Newest Esprit stores reveals new concept

2min0
Two new Esprit stores opened in Europe this month give an insight into the new direction of the embattled brand as it rebuilds. In the historic centre of Liege in Belgium a new 400sqm boutique stocks only womenswear. According to an understated news release issued in Germany, the “modern and bright store design creates a […]
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Retail Asia04/12/2018
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Fashion

Esprit appointed new chief product and brand officer

2min0
Struggling fashion retailer Esprit has tapped a former Burberry and Tommy Hilfiger executive to become its chief product and brand officer. Mia Ouakim will take up the new role – a crucial post in the brand’s turnaround plan – in February, reporting to the group CEO.  She will be responsible for managing the product creation […]
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Retail Asia30/11/2018
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Fashion

Esprit revamp to sacrifice staffs, stores

13min0
Esprit plans to axe 40 per cent of its non-store workforce as part of a radical restructure repositioning the brand for future growth. The embattled Hong Kong-listed fashion retailer is set to incur up to US$217 million in one-off charges as it shutters stores, revamps its stock range and embarks on a new marketing campaign, […]
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Retail Asia30/10/2018
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Fashion

Esprit sales continues to dive

3min0
Esprit sales slumped further in the first quarter as the embattled fashion brand’s store network continued to shrink. In a stock exchange filing on Friday, Esprit said group revenue for the quarter to September 30 slumped 16.2 per cent year on year in local currency while its own offline store sales area reduced by 10.6 […]
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Retail Asia24/09/2018
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Fashion

Esprit confirms to experience heavy loss

7min0
Struggling fashion label Esprit is looking to a new CEO and incoming chairman to turn the business around after a horror year. The Hong Kong-listed company posted a loss of HK$2.554 billion (US$325.5 million) for the year to June 30, pretty much in line with a profit warning issued early last month. On the plus side, the […]
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Retail Asia09/08/2018
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Fashion

Esprit shares shrinks after earning decrease

2min0
After another profit warning, the Esprit share price tanked to just US 25 cents yesterday. The ever-shrinking, one-time fashion giant has delivered more bad news to beleaguered shareholders with an “update on profit warning” foretelling even greater losses this year. In June, Esprit said it expected a loss of HK$2.2 billion (US$280 million) based on write-downs, market exit […]
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Retail Asia19/07/2018
Real Estate

Nike to fill former Esprit flagship space

1min0
Sportswear brand Nike will take over a 7000sqft shop in the Leighton Centre for a monthly rental of HK$1.5 million (US$190,000). The space formerly housed an Esprit flagship, with the local fast-fashion brand reportedly paying rent of HK$2 million (US$255,000). Esprit vacated the space, located in one of the world’s busiest and priciest shopping districts, […]
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Retail Asia06/07/2018
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General

Alibaba Says Its AI Copywriting Tool Passed the Turing Test

4min0
Alibaba’s digital marketing arm Alimama has unveiled an artificial intelligence-powered copywriting tool. Tapping the huge pool of content on Alibaba’s e-commerce sites Tmall and Taobao, the AI copywriter uses deep learning and natural language-processing technologies learn from millions of top-quality existing samples to generate copy for products. Brands and advertisers can insert a link to […]
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Retail Asia25/06/2018
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Fashion

Esprit HK suffers a huge loss

3min0
Distressed fashion chain Esprit has warned of a massive HK$2.2 billion (US$280 million) loss based on write-downs, exit costs – and a continuation of falling sales. The Hong Kong-listed company filed a profit warning with the Hong Kong Stock Exchange in which it said, based on the first 11 months figures for the year – […]
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Retail Asia04/05/2018
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Fashion

Esprit to close down Australia and New Zealand stores

4min0
Esprit is to close its Australian and New Zealand stores after years of mounting losses. The Esprit Australia and New Zealand network comprises 67 directly managed retail stores, including 38 concessions in department stores and 13 discount outlets. The announcement came just a few hours after the embattled fast-fashion retailer warned shareholders its third-quarter performance […]
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Retail Asia27/04/2018
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Fashion

Esprit to quit Causeway Bay flagship Store

3min0
Hong Kong-listed fashion brand Esprit Holdings will not renew the lease for its flagship store in Causeway Bay, local media reports. Expiring in June, the lease for the 7000sqft (650sqm) store in Leighton Centre has cost Esprit about HK$2 million (US$254,862) a month since 2014. Esprit chairman Raymond Or says cost saving is not the […]
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Retail Asia23/03/2018
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Fashion

Esprit Holdings to announce new leader

3min0
Leadership changes have been announced by apparel brand Esprit Holdings in Hong Kong. Jose Manuel Martínez Gutierrez will step down as group CEO and executive director of the company on June 1, with Anders Kristiansen appointed as his successor. As a precursor to the change of CEO, chairman Dr Raymond Or Ching Fai will assume […]
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