Esprit, the Hong Kong-listed fashion brand that has suffered a distinct absence of joie de vivre in recent years, is turning its focus to China as its traditional markets in western Europe run out of steam.
“China is our new growth engine,” Ronald Van der Vis, chief executive, tells investors repeatedly. The Dutchman, who joined the Hong Kong-listed casual wear group in 2009, has overseen Esprit’s purchase of its partner’s stake in their Chinese joint venture, a move that gives the company full control in the market.
He is launching an ambitious expansion programme to address Esprit’s absence in China’s fast-growing, smaller cities, and he has raised the possibility of a cheaper, second line designed for China.
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