After the amazing turnover of staff in recent years, clothing retailer Esprit Holdings Ltd. hopes to have found a stable management team. On Tuesday, the Hong Kong-based group presented its current top management – and ambitious plans: The new management will “launch a multidimensional business strategy that will strengthen the products and experiences and offer them through a new omnichannel ecosystem with additional customer interfaces,” explained the company in a statement. The aim is to help the brand make an “international comeback”.
Esprit had already announced two weeks ago that William Pak would continue to lead the group: at the beginning of March he was appointed permanent CEO, having previously held the post on an interim basis since leaving Mark Daley last October. Sang Langill, who was introduced as Chief Product Officer shortly before the turn of the year, remains part of the management quartet.
Completing the leadership team are Brian Wong as Chief Financial Officer and Larry Luk, who has assumed the role of Chief Digital and Marketing Officer. He previously held various management positions in the marketing departments of cosmetics company L’Oréal and fashion brand Calvin Klein.
The management wants to “breath new life into the brand” and expand in Asia
“I am delighted that we now have the entire team on board. This means we can now move forward with our much-anticipated comeback at top speed,” said CEO Pak in a statement. “We have now laid the foundations for breathing new life into the brand.” Under the new management, the company is now on its way “to a new era of growth”.
The company sees the return to profitability as the first milestone in the ongoing transformation efforts: After years of losses, Esprit was recently able to present itself in the black again. This was preceded by an extensive austerity program and various attempts to reposition the brand.
The group now expects the next steps from the current executives: “The Board of Directors trusts in their abilities to drive Esprit’s return to the Asian market, among other things through the ambitious expansion of the online business,” says a statement.