Despite a growth of 8.5% in sales in the Asia-Pacific region, Esprit has seen its revenue drop in total by 2.1% in the past year.

Esprit

In the face of this, wholesale sales for the brand have reached $14.76 billion, a rise of 54.3% and retail sales climbed by 41.6% to reach $12.1 billion. This result allowed the brand to increase its takings by 6% over the course of the year, a figure which is closer to 6.9% in Europe. Furthermore, whilst turnover in the USA only increased by 0.4%, it saw a rise of 3.5% in Europe.

These results come in a few weeks after the departure of Heinz Krogner, who handed general control of the brand to Ronald van der Vis; a departure which shook shares of the Sino-German group to a plunge of 9%. The former CEO had suggested that Esprit could afford to abandon between “five to seven” of its markets without severe damage. According to him this would allow the group to focus on design and creations that were “more varied, but with less deviation than today”.

By Jonathan Fulwell (Source: Matthieu Guinebault)