×
81 100
Fashion Jobs
TAPESTRY
Full Time Sales Supervisor
Permanent · Wrentham
HOMEGOODS
Loss Prevention lp Detective
Permanent · Brentwood
MARSHALLS
Loss Prevention Customer Service Associate
Permanent · New York
MARSHALLS
Loss Prevention Customer Service Associate Downtown Crossing Boston
Permanent · Boston
HOMEGOODS
Loss Prevention lp Detective
Permanent · Wentzville
HOMEGOODS
Loss Prevention lp Detective
Permanent · Kirkwood
MARSHALLS
654 Retail lp Detective - Encino
Permanent · Los Angeles
MARSHALLS
378 lp Detective
Permanent · Los Angeles
MARSHALLS
Loss Prevention Customer Service Associate
Permanent · Philadelphia
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Billings
KOHLS
CRM Campaign Analyst *Remote*
Permanent · Menomonee Falls
H&M
sr. Manager, Strategic Tech Sourcing And Procurement
Permanent · New York
MACY'S
Asset Protection Detective, Livingston - Full Time
Permanent · Livingston
MACY'S
Asset Protection Detective, Westminster - Full Time
Permanent · Westminster
MACY'S
Asset Protection Security Guard, Newport Centre - Full Time
Permanent · Jersey City
MACY'S
Asset Protection Detective, Salinas Northridge - Full Time
Permanent · Salinas
MACY'S
Senior Project Manager
Permanent · Johns Creek
MACY'S
Asset Protection Detective, West Dade Miami Int'l - Full Time
Permanent · Miami
MACY'S
Asset Protection Detective, Culver City Center - Full Time
Permanent · Culver City
FOSSIL
Americas Digital Marketing Manager
Permanent · Plano
ULTA BEAUTY, INC.
General Manager
Permanent · North Greenbush
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · North Greenbush
Published
Jul 3, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Esprit to cut 1,100 jobs as Covid-19 bites

Published
Jul 3, 2020

Troubled retailer Esprit is set to close around half of its stores in Germany and cut approximately 1,100 jobs, with both head office and in-store roles set to go. The company said there will be a further 100 job losses in Asia.


Archiv


The measures are part of a restructuring taking place at the fashion company after receiving court approval to open insolvency proceedings under its own administration.

Esprit filed for self-administration proceedings at the end of March to protect its coronavirus-hit German subsidiaries from creditor claims. 

Management said it will use the next three months to execute the restructuring measures and accelerate the company’s turnaround strategy.

This includes efforts to further reduce costs by re-negotiating contracts with service providers, consolidating processes, and “carefully examining” all expenses.

These initiatives could deliver annual savings of more than €100 million, Esprit said.

CEO Anders Kristiansen explained: “The impact of Covid-19, subsequent government measures and economic crisis have especially impacted the fashion industry. But this unprecedented situation has required us to challenge ourselves to further evaluate our cost structure and preserve opportunities for our great brand. I am really pleased with the stronger Esprit we are now building.”

In parallel, the management team is working on strengthening the brand’s appeal. Founded in California in 1968, Esprit was very popular in the 80s and 90s, but the rise of new brands and trend-led fashion saw it fall out of favour. To counter the decline, the company is being repositioned as an affordable premium lifestyle brand, creating a consistent customer experience across all touchpoints and elevating product quality with a strong emphasis on sustainability.

Copyright © 2021 FashionNetwork.com All rights reserved.