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Esprit to invest HK$18 bn in its brand over next four years
19
Sep '11
Esprit is to strengthen its brand with a comprehensive investment program over the coming four years. The Board of Directors has approved a transformation plan to re-establish Esprit as an inspiring fashion brand with a clear identity and sustainable profitability. The investments in stores, product design and brand communication are intended to revive customers' awareness of Esprit as an inspiring fashion brand, based on the unique values and heritage of the company.

The company will focus on the most attractive markets with profitable growth in the future and withdraw from unprofitable locations and markets. Esprit plans to invest a total of over HK$18 billion into the future of the company until 2014/15, thereof HK$7 billion to be spent on long-term investments (CAPEX) and HK$11.5 billion on business operations (OPEX).

Mr. Ronald Van Der Vis, Group CEO of Esprit said: "In essence Esprit is a strong and profitable brand, but the brand has gradually lost its soul over the past few years. The heritage of the brand has been neglected and the company lost its customer focus. In 2010 we started addressing this with the launch of the Six Strategic Initiatives. After having defined the new brand direction and having started the first steps with encouraging results, we now step-up our efforts. We are taking bold and decisive steps to rebuild the brand emotionally, inspired by our Californian heritage.

"Going forward Esprit will again be a brand with both a clear identity and a strong personality, returning the company to a high level of sustainable profitability. We will align all our business activities with the needs and expectations of our customers. Everything we'll do will be focused on the Esprit woman, who embraces fashion and style in a confident, relaxed way, caring about her looks as well as the ones around her. She wants Esprit back: a responsible brand that gives her fashion and quality to last. To her that is more relevant than ever before."

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Esprit Holdings Limited

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