×
1 035
Fashion Jobs
CLINIQUE
Clinique Consultant - 18 Hrs - Kelowna, bc
CDI · Kelowna
OLD NAVY
General Manager -Toronto Premium Outlets - Halton Hills, on
CDI · Halton Hills
ESTÉE LAUDER COMPANIES
Operations Manager
CDI · Toronto
ESTÉE LAUDER COMPANIES
Manager, Supply Chain Finance
CDI · Markham
CLINIQUE
Associate Consultant - Clinique - Barrie, on
CDI · Barrie
ADIDAS
Manager, Platform Operations
CDI · Vaughan
ESTÉE LAUDER COMPANIES
Senior Solutions Business Analyst – Mes And Manufacturing Systems
CDI · Markham
CLINIQUE
Clinique - Consultant - Hbc, Park Royal, Vancouver, bc
CDI · Vancouver
CLINIQUE
Clinique - Consultant -Hudsons Bay - Montreal, qc
CDI · Montreal
CLINIQUE
Clinique - Consultant - Lasalle, Montreal , qc
CDI · Montreal
CLINIQUE
Clinique - Consultant -Hudsons Bay - Montreal, qc
CDI · Montreal
CLINIQUE
Clinique - Consultant - Hbc Bayshore in Ottawa, on
CDI · Ottawa
ADIDAS
Senior Financial Analyst, Adidas Brand
CDI · Vaughan
ADIDAS
Senior Financial Analyst, Adidas Brand
CDI · Vaughan
HUGO BOSS
Purchasing & Imports Administrator - Toronto
CDI · Ontario
ESTÉE LAUDER
Business Manager - Estee Lauder - Richmond, bc
CDI · Victoria
CLINIQUE
Associate Consultant - Clinique - Sarnia, on
CDI · Sarnia
CLINIQUE
Hrs - Clinique - Consultant at Hbc Bayshore, Ottawa, on
CDI · Ottawa
CLINIQUE
Clinique Consultant - 30 Hrs - Hudsons Bay Whiteoaks - London, on
CDI · LONDON
CLINIQUE
Clinique Consultant - 18 Hrs - Hudsons Bay Whiteoaks - London, on
CDI · London
CLINIQUE
Clinique Consultant - 39 Hrs - Montréal, qc
CDI · Montreal
ESTÉE LAUDER
Business Manager - Estée Lauder - Toronto, on
CDI · Toronto

Esprit revamps mainland China business with Mulsanne JV

Published
today Dec 2, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Under-pressure fashion retailer Esprit is aiming to reset its approach to China with the launch of a joint venture to take over retail and marketing of the brand in the country.


Esprit



The company, which is listed in Hong Kong, has linked up with Mulsanne Group, another Hong Kong-listed firm. Esprit will hold a 40% stake in the JV through its Million Success subsidiary with Mulsanne holding a majority stake in the business. The deal is for the mainland only and won’t include Hong Kong, Macau or Taiwan.

Esprit company secretary Patrick Lau Yiu Pong said in a stock exchange filing on Sunday that mainland China was “an important pillar” of its strategic growth plan. 

Mulsanne is an investment holding company and works with brands to operate over 2,000 stores in China so has strong experience of the fashion market there.

It will take some time to set up the venture with the launch expected next summer, as long as it gets the required regulatory approvals within China. 

So what will it actually mean for the company? Clearly, the aim is for it to grow faster. But in the short term, Esprit will close some of its mainland stores that are performing below expectations before the remainder of its assets will be transferred to the new JV.

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

And that growth is certainly needed with Esprit having underperformed for some time and struggled to drive meaningful growth. 

Linking with Mulsanne could pay off strongly for the firm whose business in China is still quite small and is struggling. In its latest full financial year, its mainland China sales made up less than 4% of its total and fell in double-digits.

Copyright © 2019 FashionNetwork.com All rights reserved.