Esprit Europe provides first insights into its strategic plan to return to a global presence. Efforts are focused on North America and the Asia-Pacific region. Just a week ago, the Hong Kong-based company announced that it was moving its creative headquarters to New York City, the country where Esprit was founded by entrepreneurial icons Doug Tompkins and Susie Buell. After moving to the new office space, Esprit intends to open new stores in the most important cities in North America and create a comprehensive omnichannel offer based on a new store concept.
Better quality, increasing brand value
In Esprit’s currently strongest market, the EU region, the company wants to “exploit its full business potential by moving away from dependence on marketing,” according to the press release. Instead, the focus will be on improved quality and increasing brand value. The product range is to be further developed in terms of aesthetics, design, fit and fabrics. The brand also sees potential for further growth in Europe.
This also includes the expansion of the D2C business and the continuation of the “important relationships with the wholesale partners”, emphasizes the company.
William Pak, Chief Executive Officer of Esprit, said: “I am very proud of the passion and dedication of our teams, which share a common goal of preparing Esprit for the next chapter of successful growth. Last week, the leaders and I held a summit at our global headquarters in Hong Kong. Together we have continued the excellent momentum that we started at our strategy meeting in Amsterdam in early January. Guided by our new vision for Esprit, the foundation is laid for our goals: we will elevate the brand by offering the best in accessible, casual luxury fashion on a global scale.”
The Ratingen site is to be realigned
Esprit is headquartered in Hong Kong, with product design and tech hubs in Amsterdam and New York. The previous German location in Ratingen is to be realigned, according to Hong Kong, but so far without any concrete plans. According to the company, the aim is to create the most efficient structure possible to serve regional needs without duplicating global tasks.