Tuesday, May 30, 2023

Esprit accelerates its expansion in the United States and ‘pops up’ in New York

Esprit, more for the United States. The German fashion distribution company, which closed its stores in the country ten years ago, has consolidated its return to the country. pop up store in Soho, New York. The establishment will be located on Green Street and will have an area of ​​278 square meters.

The company wants to return to the North American market so that the brand has a “global resonance”., as stated by the company itself a few months ago. Esprit is planning another opening in the country for 2023, which will also be located exclusively in New York on Fifth Avenue.

To achieve its objective and reposition itself in the United States, the German company opened new offices in the country in February, where it established a design and marketing team. The new company’s headquarters are located at 160 Varick Street and will have the capacity to house 100 to 200 employees. The offices have a surface of 3,530 square meters.

The German company closed all its installations in the country more than ten years ago, but began its comeback a few months ago to the United States with the opening of a pop up Store in Los Angeles in November, With the California setting, Esprit returned to its home state, where it was founded in 1968 by Susie and Doug Tompkins.

Currently, the company is looking for more available locations in the country and opening stores around other states. Besides, The German company is looking to strengthen itself in Canada and plans to open stores in Toronto and Vancouver,

Esprit is one of the world’s largest fashion distribution groups, but was in decline for several years due to the crisis. In 2020, the company established a plan to return to profitability within two years. And in 2021 it closed its first year in four years in the black numbers.

However, according to the latest figures, the German company ended the first six months of the year (ending last August) with a 6% drop in sales and 13 million Hong Kong dollars (1.4 million euros) in profit, a decline of 89% on the previous year. % as compared to the same period.

Nation World News Desk
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