Fashion group Esprit has made Johan Munck head of retail in Europe (excluding Germany), the Middle East and Africa. His position is a new one within the company. With the appointment of Munck, Esprit is clearly aiming towards a more regional approach of its markets.
Region focused turnaround
The new head of the European market was head of the French retail division since the end of 2011. Before that he had worked at Celio, H&M, Sia, Hunkemöller and New Look.
The appointment fits into the reorganisation the new company management wants to do to pull the company out of its slump. In the first six months of the financial year 2012/2013 Esprit made a loss of 465 million Hong Kong dollar (HKD) or 45.7 million euro, mainly due to the economic crisis.
The company reeled in four former managers of Spanish Inditex to help with the turnaround.