HONG KONG/GERMANY: Esprit still sees UK as a "viable" business
Esprit said it still considers the UK market a viable business for the future
Hong Kong-listed fashion brand Esprit has reaffirmed its commitment to the UK retail market, describing it as "a viable business environment for now and in the future".
The company, which is in the midst of a restructuring programme designed to strengthen its long-term profitability, has four self-operated stores and three franchise stores in the UK.
"Esprit still maintains a strong market presence in the UK - particularly through our wholesale and e-commerce business channels, of which both continue to show significant growth, and still considers the UK market a viable business environment for now and in the future," a spokesperson for the group said in a statement sent to just-style today (2 April).
"The closure of these locations will help to resolve the current over-presence of stores in one area and also addresses the challenging market situation and overall situation of Esprit," the spokesperson added.
"We are confident that as a result of our Transformation Plan, our consumers and partners will benefit in future from a stronger brand, enhanced support for our stores and products offering outstanding value for money."
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