Global fashion retailer Esprit posted a 40 percent fall in second-half profit, primarily due to its losses throughout its European market. How will the company get out of its slump? Apparently by attempting to expand–already being the world’s No. 6 fashion retailer by market value, it will be interesting seeing the results of growth. Plans for expansion will center around France, Australia, Canada and the U.K.
Reported in today’s Forbes, the company aims to open 60 to 80 stores in fiscal 2009/2010 and plans to spend about HK$800 million on retail expansion, with another 130 to 140 franchise stores set to open in the coming year.
I remember loving and coveting everything that hinted at Esprit 10 years ago–will it make the comeback it’s looking for in the next 10 years?