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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…
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…
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…
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…
Sands Cotai Central has opened phase four of its retail offer, adding almost 100,000sqft of retail space and 25 retailers. At the heart of the expansion is an Apple store, which opens today. The new space is home to several brands new to Macao: Calvin Klein…
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…
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…
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)…
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…
Trading conditions have continued to be challenging for clothing company Esprit Holdings. With the industry changing rapidly, the company says it has had fewer customers in its brick-and-mortar retail stores as well as increased competition in the e-commerce…
Esprit Holdings swung to a net loss in the first half, hit by weak sales at its brick-and-mortar retail stores and goodwill impairment due to a decline in its China business. The fashion group is in the midst of an ambitious multi-year revamp that has…
Fashion group Esprit Holdings has issued a warning it expects a net loss for its first half, to the end of December. Based on a preliminary review of its unaudited consolidated management accounts, the net loss is expected to be in the range of about HK$950…
Former Esprit Holdings chairman Michael Ying Lee-yuen has transferred all 211.8 million shares he owned in the fashion group, worth HK$900 million (US$115 million), to his two daughters. Ying, the husband of former movie star Lin Ching-hsia, transferred the…
A special capsule collection for women and men featuring recycled-plastic fabric has been launched by Esprit. The Good Collection includes classics like a denim jacket, pencil skirt with straps, oversized sweatshirt with school logo, culottes, rain cape,…
Asia Pacific revenue fell 17.5 per cent year on year for Esprit Holdings for its fiscal year to the end of June, offset by a 43 per cent e-commerce boost. The drop was 18.8 per cent in the first half, easing to 16 per cent. Esprit says it faces “certain…
Fashion group Esprit Holdings expects to more than double its net profit for its financial year to the end of June, it has announced in a profit estimate for The Stock Exchange of Hong Kong. In a preliminary review of its unaudited consolidated management…
