FRANCE: Esprit to cut 150 jobs with store closures
Esprit is to close 17 stores in France over the next year and a half
Fashion brand Esprit is to lay off more than 150 employees in France with the closure of 17 stores over the next year and a half, in an ongoing bid to cut costs.
The Hong Kong based company, which last year tweaked its turnaround plan to focus more on fast fashion, said it will close 17 loss-making stores France, which some reports say is half of its total store count in the country.
"As you know and we announced for a long time Esprit is currently undergoing a transformation process aimed at strengthening its brand and its profitability in the long term," a spokesperson for Esprit told just-style yesterday (12 February).
"Our goal is to offer customers outstanding value for money and win them over with even more attractive products and stores, as well as faster and more efficient structures. This holds especially true for France which is one of our key markets in Europe.
"We are confident that as a result of our transformation plan, customers will benefit in future from a stronger brand, enhanced support for our stores and products offering outstanding value for money."
Last month Esprit's share price rose following the news that it expects to return to profit in the first half. This, the company said, is due to a reduction in operating expenses.
Introduction Footwear in United Arab Emirates industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018......
More than 220 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
Introduction Footwear in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile......
Introduction Footwear in India industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile ......
Introduction Childrenswear in Germany industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2009-13, and forecast t......
- Cheap polyester contributes to cotton import shift
- TPP trade pact in milestone signing by 12 nations
- Under Armour defends questions over strategy
- Combating the new normal – 10 trends for 2016
- US apparel retailers' January 2016 sales roundup
- Bangladesh factory fire renews worker safety fears
- China factory activity continues to deteriorate
- Southeast Asia – a strategic sourcing review
- H&M and Primark price rivalry reaches equilibrium
- PVH to take control of Tommy Hilfiger China unit
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- E-Textiles: Electronic Textiles 2014-2024