HONG KONG: Esprit appoints Inditex's Martínez as CEO
Hong Kong-based clothing brand Esprit has seen its share price soar after announcing the appointment of Jose Manuel Martínez Gutiérrez as CEO and executive director.
Martínez will join the retailer, which is in the midst of a turnaround programme, by the end of September, replacing Ronald van der Vis, who left the company for personal and family reasons.
Martínez has held various senior roles at Spanish retail group Inditex, owner of the Zara fast fashion chain, most recently as group director of distribution and operations. Esprit said he was responsible for executing the commercial distribution model and strategy that was a key factor in delivering consistent positive growth for the retailer over several consecutive seasons.
He was also previously Zara's country manager across Scandinavia and spent eight years at McKinsey, where he led the firm's retail and consumer goods practice in Spain.
In September last year, Esprit embarked on a broad transformation plan which saw it exit North America, exit its retail businesses in Spain, Denmark and Sweden as well as closing down under-performing stores worldwide.
As part of the plans, it is working to develop new branding and sourcing strategies, while growing its presence in China.
The company's share price rose 27.98% today to HK$12.76 per share.
Two campaigns carried out over the past two years by two groups of activists have achieved very different results. Whereas Greenpeace has successfully corralled major brands and retailers into its Det...
Spanish retail giant Inditex is sending a joint mission to Bangladesh next week with the IndustriALL global trade union federation following the fire at an unauthorised subcontractor where seven worke...
The most read stories on just-style this week include Inditex suspending two suppliers after a garment factory fire in Bangladesh killed 7 people, labour rights groups urging buyers to commit to worke...
Inditex has reached an agreement to purchase its Finnish Zara franchise, currently operated by the Stockmann Group. ...
Spanish retail group Inditex has suspended two suppliers after it appears that they were illegally subcontracting to the Bangladesh factory that burnt down on Saturday, killing seven people....
At least seven workers were killed and 50 others injured in a fire that raged through an unlicensed garment factory in Dhaka on Saturday (26 January) - just two months after 112 lost their lives in an...
Labour rights groups have stepped up their calls for retailers and brands buying apparel from Bangladesh to take steps to ensure the safety of workers making their clothes....
Apparel company Limited Brands, owner of lingerie brands Victoria's Secret and La Senza, has become the 14th major business to pledge to eliminate all releases of hazardous chemicals throughout its su...
- New wage ladder lifts workers towards living wages
- US retailers to face logistics issues into 2015
- New scenarios driving sustainability in textiles
- African apparel sector needs cooperation to thrive
- UK fashion sector prospects depend on partnerships
- Bangladesh worker dies as factory boiler ruptures
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- US firms eye Vietnam footwear growth ahead of TPP
- J Crew embarks on new expansion phase