Find in the news:
BY COUNTRY

Esprit gives up fast fashion and returns to Asia



Esprit will focus on developing high-quality clothing.
Esprit

Esprit Holdings Ltd., a major manufacturer and retailer of casual wear, plans to return to Asian markets. The company will also depart from fast fashion strategy after failing to succeed against such giants as Zara and H&M.

As part of its new strategy, Esprit will focus on developing high-quality clothing. The retailer will move to a higher price point and pay attention to sustainability in its fabric selection and manufacturing processes.

In the new wave, Esprit expects to reopen stores in major Asian markets. The brand was forced to close all 56 stores in the region after losses suffered in 2020 amid pandemic and restrictions.

Esprit already opened its first pop-up store in Seoul this spring. In August, it will launch a flagship monostore on Causeway Bay in Hong Kong. The company aims to open at least one flagship store each in major Asian metropolitan areas. The main focus of sales will be on online platforms launched in South Korea, Hong Kong, Taiwan and the Philippines. By the end of 2022, the brand will also expand into Thailand and Singapore.

Esprit aims to use the new strategy against the background of how the global market is increasingly criticized fast fashion - for the use of raw materials from dubious sources, the irrational use of electricity as well as social and environmental problems.

Now Esprit, which has been working in global markets since the 1980s, expects to build a new "clean and young" brand and reach double-digit growth.

Following a new strategy of rejection of the fast fashion, Esprit has already reduced the cycle of updating collections from 12 to 4 a year, supplementing them with laminated lines in collaboration with partners. In addition, the company moved its headquarters to Hong Kong to save on logistics and communications with suppliers. In 2021, the brand made its first net profit in five years, which was almost $50 million.

More about shopping malls in Hong Kong



YESTERDAY, USA:
Canadian commercial real estate owner and mall developer Triple Five has defaulted on an $8.8 million payment on American Dream debt.
Aug 5, 2022, India:
Reliance Brands has signed an exclusive agreement with Kering Group.
Aug 4, 2022:
Luxury fashion house announced the opening of a menswear pop-up store in Beverly Hills.
Aug 3, 2022, USA:
The deal could amount to more than $3 billion.
Aug 2, 2022, United Kingdom:
Britons are significantly overpaying for products from European brands.
Aug 1, 2022, USA:
The first "General Store by Walmart" will open in August at Getaway Hill Country in Wimberley, Texas.
Friend
and Follow
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us