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Esprit is again in China

International fashion brand Esprit has refocused its business in mainland China. The company recently announced its joint venture with investment holding company Mulsanne.

Esprit in China
Figure: Esprit recently announced its joint venture with investment holding company Mulsanne to refocus its business in mainland China. Courtesy: Esprit 

This decision has come at a time when stores are not doing really good and struggled to drive meaningful growth with mainland China sales only made up less than 4% of its total and fell in double-digits.

It is ideal for Esprit, as Mulsanne works with brands to operate over 2,000 stores in China with strong experience in the fashion market.

“The mainland China is an important pillar of our strategic growth plan,” said Patrick Lau Yiu Pong, Secretary, Esprit.

Patrick also said, “The directors believe that the deal creates a strong base for the Esprit brand to improve the relevance and accelerate growth.”

Though the venture will need some time to come in fruition due to regulatory approvals within China. Also, Esprit will shut some of its underperforming mainland stores before the new joint venture kicks in.

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