We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.

The global fashion business journal

Apr 8, 20201:53pm

Esprit sales drop by 14.6% in first quarter amidst restructuring process

The fashion retailer has ended the period with a revenue of 2.8 billion Hong Kong dollars (357.3 million dollars).

Nov 6, 2019 — 4:15pm

Esprit sales drop by 14.6% in first quarter amidst restructuration process



Esprit starts the year on the low. The fashion retailer has ended the first quarter of the year (closed on September 30) with a revenue of 2.8 billion Hong Kong dollars (357.3 million dollars), down 14.6%. Despite the result, the group has moderated the fall in sales compared to the end of last year, when it fell 16.3%.


The company, led by Anders Kristiansen, has explained that the fall in its revenues is due to the implementation of the first phase of its restructuring plan, which is to “rationalize” its distribution network and reduce discounts.


The company’s new plan, launched in November 2018, also focuses on the Chinese market, one of the most important regions for the group. However, in the first quarter, Esprit sales in Asia have fallen by 44.4%.





In Europe, where it concentrates 85% of its revenue, the company has reduced its revenue by 11.6%. As of September 30, the group had 243 points of sale, 28 stores less than in the same period of 2018.


By distribution channels, sales in its directly operated stores have decreased by 22.9% in the first quarter, due to closures, as explained by the company. Revenues in the multibrand channel also declined during the period, with a 7.2% drop. However, thanks to the new strategy, the company has reduced the fall in wholesale, compared to the 15.5% decline last year. Esprit said in a statement that its goal for the rest of the year is to continue implementing its strategic plan “rigorously” and “implement measures when and where necessary.”

Participation rules



Validation policy for comments: 

MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment