Esprit, the global fashion retailer, recently announced a revitalization plan with several exciting developments on the horizon. With the appointment of Sang Langill as the new Chief Product Officer (CPO), Esprit is set to launch new capsule collections that pay homage to its rich history and brand heritage. This shift in focus coincides with the company’s decision to move its headquarters back to Hong Kong earlier this year, signaling its renewed emphasis on the Asian market.

The hiring of Sang Langill as CPO has sparked the creation of these innovative capsule collections and prompted Esprit to adjust its strategy to prioritize e-commerce expansion. Chiu Christin Su Yi, the Chairperson of Esprit, expressed confidence in Sang and his team, highlighting their role in bringing innovation and creativity to Esprit’s product offerings. The aim is to drive sales and establish meaningful connections with customers.

Esprit has been continuously improving its product designs and quality, particularly with a focus on sustainability and eco-friendly practices. As a result, the company plans to introduce a series of new omnichannel capsule collections throughout 2022. These collections will not only feature apparel but will also revolve around themes that reflect Esprit’s DNA, evoking feelings of nostalgia and cherished memories associated with the brand.

By emphasizing its brand story from the late 1970s to the 1990s, Esprit aims to bring its vibrant heritage and past successes into the modern era, reminding customers of its status as a fashion industry trailblazer. The company views e-commerce as a crucial pillar in its global ambitions, intending to leverage partnerships and expand its direct-to-consumer e-commerce platform in Asia to drive growth. Additionally, Esprit is prioritizing the collection and strategic utilization of first-party data to enhance brand awareness and foster customer loyalty.

Despite facing challenges in the years leading up to the pandemic, Esprit’s recent financial results indicate signs of improvement. In the first half of the year, the company achieved a turnaround from loss to profit, marking the first time this has occurred since 2017. This positive outcome can be attributed to stringent cost control measures, a decrease in losses from exceptional items, and boosted sales, particularly through e-commerce channels. Esprit’s positive EBIT further demonstrates a significant performance improvement compared to the corresponding period last year.

Overall, Esprit remains optimistic about its future prospects and has a host of exciting developments in the pipeline. The company’s efforts to revitalize its brand, focus on sustainability, and expansion into the Asian market position it for success in the ever-evolving fashion industry.

Useful Links:
1. Esprit Official Website
2. Esprit’s Financial Results on Reuters