RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Subscribe
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
RetailDetail EU
Europe - EN
  • België - NL
  • Belgique - FR
  • Nederland - NL
  • Europe - EN
  • About us
  • Contact
  • Sign in user
  • News
    • Food
    • Fashion
    • Home
    • Electronics
    • Beauty/Care
    • DIY/Garden
    • Leisure
    • General
  • RetailDetail Plus
  • Events
  • Hunts
  • RetailHub
  • Advertising & Partnerships
    • EVENT PARTNERSHIPS
    • PRINT ADVERTISING
    • ONLINE ADVERTISING
thumb
Written by Pauline Neerman
In this article
  • Companies Esprit
  • Topics Financial results
Share article
  • facebook
  • instagram
  • twitter
  • linkedin
  • email

After years of losses, Esprit reacquaints itself with profit

icon
Fashion15 March, 2022

For the first time since 2017, Esprit has managed to make a profit again. The difficult years seem over, under a new management the company prepares for a return to Asian markets.

Back to black

Esprit has finished its financial year 2021 in the black, with a net profit of 370 million Hong Kong dollars (more than 40 million euros): not the biggest of profits, but certainly a huge turnaround for the company that has been constantly below zero since June 2017.

Improved gross margins and a rise in sales pushed profits above zero again, after Esprit spent the past period cutting costs, improving stock management and focusing on e-commerce. However, it is hard to compare annual figures exactly, as Esprit moved its financial year by six months.

Back to Asia

Still, the preliminary results are enough to boost Esprit’s confidence: a new management sees current CEO ad interim William Pak appointed to full-time CEO, assisted by a new Chief Financial Officer, Chief Product Officer and Chief Digital & Management Officer. The aim to revitalise the brand and lead its return to the Asian markets.

Just two years after closing all of its Asian stores, except those in China, the company says it is ready to return. More good results are expected to follow because of the company’s new and ambitious e-commerce strategy and new, improved collections.

Stay up-to-date

Receive our free newsletters and do not miss out on the latest retail news.

Subscribe
logo

For the first time since 2017, Esprit has managed to make a profit again. The difficult years seem over, under a new management the company prepares for a return to Asian markets. Back to black Esprit has finished its financial year 2021 in the black, with a net profit of 370 million Hong Kong dollars (more than 40 million euros): not the biggest of profits, but certainly a huge turnaround for the company that has been constantly below zero since June 2017. Improved gross margins and a rise in sales pushed profits above zero again, after Esprit spent the past period cutting costs, improving...

More on Fashion
See more
  • icon
    Fashion19 September, 2023
    H&M ends free returns

    H&M has started charging for returns, with concrete rules varying by country. While in the Benelux going to a store to return an online order remains free, British customers will have to pay for that as well.

  • icon
    Fashion15 September, 2023
    Second-hand sales eat away at online fashion retailers

    Which fashion retailers dominate online? Cross-Border Commerce Europe figured it out in its annual European top 250. Striking: the retailers are facing a lot of heat from… consumers.

  • icon
    Fashion15 September, 2023
    H&M Group flatlines this summer

    The past third quarter delivered a flat line for H&M. Sales rose 6%, but in local currency terms no growth remained. However, margins were said to be "moving in the right direction".

Events
  • 19
    Oct
    Category Management Congress
  • 23
    Nov
    RetailDetail Night
Most read
  • icon
    Fashion29 August, 2023
    Ace & Tate needs to cut costs as losses mount
  • icon
    Fashion13 September, 2023
    Inditex achieves record margins in inflationary times
  • icon
    Food8 September, 2023
    Carrefour exposes “shrinkflation” in stores
  • icon
    Fashion19 September, 2023
    H&M ends free returns
Follow RetailDetail
  • socialFacebook
  • socialTwitter
  • socialInstagram
  • sociallinkedIn
footer-logo
RetailDetail, the leading b2b-retailcommunity in the Benelux, keeps retail professionals up-to-date by means of online & offline publications, retail events, inspiring retail hunts and the unique co-creation platform retailhub, where retailers and their suppliers can experience the future of shopping.
RetailDetail Mailing Address:
Kolveniersstraat 7, bus 26 
2000 Antwerp
Visiting address:
Stadsfeestzaal – Meir 78 
2000 Antwerp
How to reach us:
Directions
© 2023 RetailDetail
general conditions | privacy policy
+32 3 500 89 59 info@retaildetail.be
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies.
Accept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT