Esprit Holdings
| Esprit Holdings Limited
|
|
|---|---|
 |
|
| legal form | Limited |
| ISIN | BMG3122U1457 |
| founding | 1968 |
| Seat |
Pembroke , Bermuda
|
| management | Anders Kristiansen ( CEO ) |
| Number of employees | 4910 ( FTE ) |
| sales | HKD 12.93 billion (FY 2018/19) |
| Branch | Textile and clothing industry |
| Website | www.esprit.com |
| As of June 30, 2019 | |
Esprit Holdings Limited is an international fashion group with headquarters in Pembroke , Bermuda and operational headquarters in Hong Kong and Ratingen . It sells clothing, footwear, home accessories, jewelry and furniture with branches in over 40 countries.
history
Esprit was founded in 1968 by Susie and Douglas Tompkins in San Francisco . The couple drove through California in a station wagon and sold self-sewn clothes. Esprit became an independent company as early as 1971 under the name Esprit de Corp. In the same year, the couple founded a subsidiary in Hong Kong with Michael Ying, a former chairman and current shareholder of Esprit .
The establishment of the German subsidiary of Esprit de Corp. followed in 1976 in Düsseldorf. This offered sportswear for a younger target group. Since June 2003 it has been based in Ratingen on Esprit-Allee.
The US branch became independent in the 1970s when the founding shareholders left. Since then, the Esprit headquarters have been in Hong Kong and Düsseldorf.
After Tompkins sold his first company, he and his wife founded the Far East Group . At the end of the 1970s they sold part of their Esprit shares.
The Esprit lettering was designed by John Casado in 1979; In 1986 the first Esprit store was opened in Cologne , before Esprit was only sold in Germany through wholesalers and department stores.
After divorcing his wife in 1989, Doug Tompkins sold his remaining shares in 1990. Doug Tompkins ex-wife Susie Tompkins, Michael Ying and Jürgen Friedrich became the new owners of the company. Doug Tompkins, now known as an environmental activist, founded the Foundation for Deep Ecology , moved to Chile and used the proceeds of over 150 million US dollars to build a national park in South America ( Pumalín Park ). Michael Ying, the owner of the Esprit Far East Group , bought Friedrich's European business in 1997 and in 2002 was also able to secure the entire American rights for 150 million US dollars.
The individual parts of the company merged into the newly founded Esprit Holdings Limited . Red Earth , a cosmetics retailer, was acquired in 2001. Michael Ying withdrew more and more from the group since 2003 and sold a large part of his shares. He held in 2006 only 16 of the former 42 percent of the company that at the 1993 stock market in Hong Kong and since 1998 at the London Stock Exchange listed.
Esprit is struggling with declines in sales and profits and withdrew completely from North America in 2013 . The company announced that it would invest more than 1.7 billion euros in the brand by 2015 and close unprofitable locations.
In the wake of the Corona crisis , several German subsidiaries filed an application to initiate protective shield proceedings at the end of March 2020 . At the beginning of July 2020, the insolvency court initiated insolvency proceedings under self-administration and it was planned to close half of all branches in Germany.
Data
In 1993 Esprit achieved a turnover of 100 million euros, in 2009 Esprit achieved a worldwide group turnover of around 3.1 billion euros. The net profit was around EUR 428 million. In fiscal 2013 Esprit achieved sales of 25.9 billion Hong Kong dollars (2.5 billion euros), 14 percent less than in the previous year and a loss of 4.4 billion Hong Kong dollars (430 million euros), compared to 873 Million Hong Kong dollars in profit last year. The company has the largest retail sales in Germany with 693 million euros. With a turnover of 162.5 million euros in 2014, the Esprit online shop ranks 24th among the largest online shops in Germany.
Esprit Holdings Limited is listed on the Hong Kong Stock Exchange and is included in the Hang Seng Index, the MCSI Hong Kong Index and the FTSE All-World Index for Hong Kong.
The company's chief executive officer was Heinz Krogner from 1995 to 2009, and Ronald van der Vis from 2009 to 2012. From 2012 to 2018 it was Jose Manuel Martínez Gutiérrez, a former manager of competitor Zara . In March 2018, Anders Kristiansen, former CEO of New Look was presented as the new boss.
At the end of fiscal year 18/19, the group had over 400 directly managed retail stores worldwide and sold its products in around 5000 wholesale locations in 40 countries.
Product lines
Esprit had restructured its individual product lines into organizational divisions under the management of Jose Manuel Martínez, however, according to product categories (e.g. knitting category, T-shirts, etc.). Esprit offers the following product lines:
- Women Casual - indoor and outdoor clothing for women
- Men Casual - indoor and outdoor clothing for men
- Women Collection - finer clothing for women (business & occasions)
- Men Collection - finer clothing for men (business & occasions)
- Esprit Kids - children's clothing (0 to 7 years)
- Esprit Sports - Fitness, Running, Yoga Fashion and Shoes for Women, Men and Children
- Accessories - bags, leather and textile accessories for men and women
- Shoes - women's, men's and children's shoes, from leather to nylon
- Bodywear - day and nightwear as well as swimwear for women, men and children
EDC by Esprit
In 1998 the young line edc by Esprit (Esprit de corps) was launched for young women between 14 and 24 years of age, which implements current trends from the music scene and from the popular metropolises with twelve collections per year. Due to the success of edc by Esprit, edc men have also been around since 2002. Shoes, accessories and underwear as well as edc licensed products are also offered.
- edc women - modern clothing for 14 to 24 year old girls / women
- edc men - modern clothing for young men
- edc accessories - bags, leather and textile accessories for women and men
- edc shoes - shoes that match edc by Esprit and edc men clothing
- edc bodywear - underwear a. Ä.
- edc youth by Esprit - fashionable clothing for children from 8 to 14 years
Edc by Esprit has been an independent brand since 2007, backed by an independent team. A once planned relative independence should lead to a worldwide establishment of own, pure edc-by-Esprit stores. However, this strategy was abandoned and edc was largely reintegrated into the Esprit stores, as the company claims that the collections complement each other.
Licenses
Esprit has had various license partnerships since 1990. The license partners include B. Luxess, who look after the fragrance and cosmetic series for Esprit, and Falke , the licensing partner for hosiery. TMS produces watches and jewelry.
In the “Esprit Home” area, carpets, home textiles, bathrooms and bed linen are licensed. Licensed accessories include watches, jewelry, glasses, perfume and umbrellas. In 2015 it was announced that Esprit would also license its children's fashion business, and the French children's fashion group Groupe Zannier has been the European license partner for Esprit Kids since January 1, 2016.
Outlet stores / factory sales in Germany
The Esprit company operates sales outlets in Stuhr , Metzingen , Soltau , Ochtrup , Neumünster , Vaterstetten-Parsdorf , Zweibrücken , Sandersdorf-Brehna and Ratingen , in which residual stocks, overproduction and defective goods are offered at reduced prices.
Production sites
The production of Esprit goods in the 2015/2016 financial year was spread across the following countries:
Web links
- Official website (German)
- Esprit world (English)
Individual evidence
- ↑ a b Annual Report 2018/19. (pdf) In: www.esprit.com. Retrieved November 11, 2019 .
- ↑ Esprit brand history. Esprit, accessed January 2, 2014 .
- ↑ The company history of Esprit. Baur, January 18, 2011, accessed January 2, 2014 .
- ↑ a b Esprit with a deep red balance. Handelsblatt, September 10, 2013, accessed on January 2, 2014 .
- ^ Westdeutsche Zeitung: Several Esprit subsidiaries apply for protective shields. Retrieved April 2, 2020 .
- ↑ Also in Franconia? Esprit wants to close half of all branches. In: nordbayern.de. Retrieved July 3, 2020 .
- ↑ Net sales of Esprit stores worldwide in 2013 by country (in million euros). Trade data, accessed January 2, 2014 .
- ↑ Sales of the 100 largest online shops in Germany in 2013 and 2014 (in million euros). Statista, accessed December 19, 2015 .
- ↑ Esprit boss Krogner resigns. Westdeutsche Zeitung, March 29, 2009, accessed on January 2, 2014 .
- ↑ Esprit finds a new boss. Spiegel Online, August 7, 2012, accessed January 2, 2014 .
- ^ Jan Schroder: Esprit: CEO Jose Manuel Martínez resigns. March 21, 2018, accessed July 25, 2019 .
- ↑ Profile. Esprit, accessed January 2, 2014 .
- ↑ ➤ Esprit Outlet 06796 Brehna opening times | Address | Phone. Retrieved July 25, 2019 .
- ↑ Distribution of Esprit's production sites worldwide by region in the 2015/16 financial year. Statista, accessed January 2, 2014 .