Esprit Holdings Limited (traditional Chinese: 思捷環球控股有限公司 SEHK: 330) is a publicly owned manufacturer of apparel, footwear, accessories, jewellery and housewares under the ESPRIT label. The company is headquartered and managed from Kowloon, Hong Kong, and Ratingen, Germany. In the 2007–2008 business year, Esprit Holdings Limited generated a worldwide group turnover of around EUR 3.25 billion (as of 30.06.2008). The Group operates more than 770 directly managed retail stores worldwide and distributes its products via more than 15,150 wholesale locations around the globe. The company has more than 1.1 million square meters of retail space in more than 40 countries.
The ESPRIT brand name is also licensed to other manufacturers. In addition, the group owns the Red Earth cosmetics brand. Red Earth was popular in the 1980s, especially with suburban teenagers.[citation needed] It remains well-known with people of the middle-class income, especially in its largest market—Germany.[citation needed]
The Esprit flagship stores feature both current Esprit fashion lines and license products under one roof. Esprit has its own architecture department that is responsible for the worldwide design of its stores.
History
While hitchhiking in California in the mid-60s, Susie Russel was here[where?] on the road with her convertible. She picked up a hitchhiker from the roadside: Douglas Tompkins. Russel and Tompkins later became a couple and got married.
The first joint fashion line of Susie and Doug Tompkins was sold from a VW bus. Esprit’s headquarters was the Tompkins’ apartment in San Francisco. Susie assumed the creative role and Doug Tompkins took care of the financial side of things.
In 1978, the Esprit logo was developed by John Casado.
In the 1980s, the “Real people campaign”, which was shot by photographer Olivero Toscani, caused quite a stir. Esprit was always able to recruit interesting architects and designers for its projects: starting with the Italian, Ettore Sottsass, who developed the first Esprit Europe Headquarters in Düsseldorf and the overall concept of the stores in the style of the Memphis design movement and the language of the Esprit brand. The list keeps on going with architects and designers such as Aldo Cibic, Antonio Citterio, Norman Foster or Shigeru Uchida, who all designed flagship stores in various countries, from the architecture to the interior design. To date, the design of the Esprit offices is characterised by an open atmosphere that supports teamwork and communication. All Esprit stores always feature a light, spacious atmosphere. Today, too, there are also constantly new developments in the fields of design and architecture. For example, in 2006, the Esprit Academy, an initiative for the promotion of creative young design talents, held an architecture competition for the design of a new, global look for all Esprit stores.
Ex-president Michael Ying stepped down as executive director in 2002 and subsequently resigned as the Chairman in 2006.[1]
An Esprit outlet which consists of four floors was opened at Pavilion Kuala Lumpur in Kuala Lumpur.
Product lines
Esprit has split its individual product ranges into organisational divisions, which act as independent business units.
- Women Casual – sporty and fashionable indoor and outdoor styles
- Men Casual – uncomplicated sportswear with a high wearing comfort
- Women Collection – high-quality, feminine business looks
- Men Collection – elegant, trend-oriented business fashion
- de.corp ESPRIT URBAN CASUAL – young, urban and feminine, addresses 18 to 25-year-old female customers who are in search of a casual, urban look
- Esprit Kids – current, child-oriented trends (0 to 7 years old)
- Esprit Sports – skiwear, fitness fashion and streetwear for women, men and kids that harmoniously combines fashion and function
- Accessories – bags, leather and textile accessories for men and women
- Shoes – women’s, men’s and children’s shoes from fashionable to classic, from leather to nylon
- Bodywear – day and night underwear, as well as swimwear for men, women and kids
In 1998, the young range edc by Esprit was founded. The range for girls from 14 to 24 years brings out 12 monthly basis new product lines a year. Based on the success and growth of edc by Esprit, edc men was established in 2002. The edc portfolio is completed by its own shoes, accessories and bodywear ranges, as well as edc licenced products.
- edc by Esprit – very trendy instant range for 14 to 24-year-old girls
- edc men – cosmopolitan trends for young, fashion-conscious boys
- edc accessories – trendy bags, leather and textile accessories for girls and boys
- edc shoes – shoes that match the trends of edc by Esprit and edc men
- edc bodywear – trendy underwear for an individual look
- edc youth by Esprit – brand new styles for little rebels between 8 and 14
Since 2007, edc by Esprit has been an independent brand with its own team.
From the pure product to the complete service strategy, since 1990 licence partnerships have been emphasising the expansion of the Esprit brand into a global lifestyle group. In cooperation with companies with a strong market presence, a large and partly worldwide pool of Esprit licences was created in the meantime. The more than 30 licence partners include, for example, Coty/Lancaster, which carries out the global management of Esprit’s scent range and Falke, the licence partner for socks and stockings. Under the name “Esprit timewear + jewel”, Egana Holdings Ltd. has been producing watches and jewellery for more than ten years. Esprit has focussed on and expanded two sectors: the sector of Esprit home with a comprehensive selection of furniture, carpets, wallpaper, lighting, living accessories, home textiles and exclusive bathrooms, as well as the kids’ world that ranges from maternity wear to toys and bug-gies to complete nursery furniture. There are plans to further expand the licence business worldwide.
Social responsibilities and charity
Esprit and its employees place an equal focus on worldwide social and ecological developments and the creation of new business fields, jobs, products and fashion lines.[citation needed]
The environmental consciousness was transferred to the Esprit products: for example, as a pioneer[citation needed] for the entire industry, Esprit launched its first Ecollection (Ecology Collection) in 1992. The fashion line consisted of organically grown cotton and wool from sheep bred and raised in a natural environment. Even details such as buttons were hand-painted with natural colours, of course whilst ensuring the optimum conditions for the workers. The manufacturing criteria such as finish, production or dyeing were also subject to ecological standards. Today, all Esprit’s product lines focus on environmentally friendly manufacture and processing of the materials.[citation needed] In addition, Esprit launched a campaign to save the rainforest. To date, the topic has been given top priority by company founder Doug Tompkins in order to conserve the habitat of endangered animal and plant species.
When the topic of AIDS first became relevant, Esprit launched a media campaign in 1985 and organised the first legendary AIDS Walk in San Francisco in 1987. In India, Esprit is currently supporting an extensive family education project of SOS Children’s Village. For years Esprit has been supporting SOS Children’s Village on an international level – for example, by the children’s painting competition on the 50th anniversary of SOS Children’s Village Germany or by the sale of country bracelets, the proceeds of which went towards the fundraising campaign for the FIFA World Cup 2006 “Six Villages for 2006”. To increase the impact, Esprit invited everyone to take part in campaigns. “What would you do to change the world?” asked Esprit in 1992. A controversial print campaign was created from a total of 20,000 replies worldwide.
In 2007, Esprit sponsored the “Chasing the dream” photo exhibitions of the United Nations in Germany. This gave children and youth from around the world a platform to present their thoughts, words and pictures. The company is also active in acute aid projects: for the victims of environmental catastrophes, such as the 2004 tsunami in South East Asia or the 2008 earthquake in China, Sichuan, Esprit organised fundraising campaigns. Many of these social aid measures are based on foundations that Esprit established in the last few years in various countries. All aid campaigns focus on projects for children and youths in need.
The company is also characterised by a wide range of initiatives, from social to humanitarian to ecological through to cultural promotion measures. For education and culture, Esprit founded the so-called Culture Club with the purpose of giving every Esprit employee the opportunity to culturally educate themselves and subsidise visits to concerts, cinemas or exhibitions.[citation needed]
The company became a member of the Business Social Compliance Initiative (BSCI) established by the Foreign Trade Association (FTA) and have communicated to vendors the significance of BSCI certifications as the appropriate accreditation to signify their compliance with human rights and minimum social standards.
During the 2007 financial year, employees responded to a variety of relief initiatives organized by charitable organizations. These included the participation of Hong Kong staff in “Walks for a Million” organized by the Community Chest and ribbon-selling in stores to raise funds for the National Breast Cancer Foundation.
In response to the South Asian tsunami, Esprit launched a global fund-raising campaign calling for employee donations to help victims affected by the disaster. The company also made matching donations to support and promote active participation in the campaign.
In May 20, 2008, Esprit Holdings Limited designated May 18, 2008 as the “Sichuan Earthquake Relief Day” where the sales proceeds generated from all stores in Hong Kong and Macau were donated to assist the victims in Sichuan. Esprit experienced overwhelming support from customers and successfully raised around HK$3.3 million.
For ethical reasons and as a contribution towards maintaining animal diversity, only fake fur is used in the manufacture of Esprit clothing.
Company
In the 2007/2008 business year, Esprit Holdings Limited generated a worldwide group turnover of around EUR 3.25 billion (as of 30 June 2008). The shares of Esprit Holdings Limited are listed on the Hong Kong stock market and is included in both the Hang Seng Index, in the MCSI Index Hong Kong, as well as in the FTSE All World Index for Hong Kong., S&P/HKEx LargeCap Index and S&P Asia 50 Index.
The Group operates more than 770 directly managed retail stores worldwide and distributes its products via more than 15,150 wholesale locations around the globe. The company has more than 1.1 million square metres of sales area in more than 40 countries.
Its shares are a component of the following stock market indices:
Milestones
The 1960s
- 1968, San Francisco: Susie and Doug Tompkins begin to sell the first fashion line from the boot of their estate car
The 1970s
- 1971, Hong Kong: The Esprit Far East Group is born when Susie and Doug Tompkins meet Michael Ying, the former Group Chairman and Shareholder of Esprit
• San Francisco: The company is founded and registered under the name of Esprit de Corp. • 1976, Düsseldorf: Esprit starts out in Germany under the name Esprit de Corp. with young sportswear and rapidly develops into one of the most successful lifestyle brands on the European market. CEO Jürgen Friedrich establishes the Esprit European Headquarters in Düsseldorf • 1978, San Francisco: For the first time ever, turnover exceeds 100 million US dollars. Independent Esprit companies are founded in Germany and Hong Kong • New York: John Casado designs the famous Esprit logo with the interrupted lettering
The 1980s
• 1986, Cologne: Esprit opens its first German store in Cologne. The revolutionary design line for architecture and interior design in the Memphis design is the inspiration of Ettore Sottsass • 1987, San Francisco: Susie and Doug Tompkins draw attention to the growing AIDS epidemic with an AIDS campaign • 1989, San Francisco: The Japanese art publisher Robundo publishes “Esprit, the Comprehensive Design Principle”, the corporate design manual
The 1990s
• 1992, San Francisco: Esprit initiates the worldwide campaign “What would you do to change the world?” • 1993, Hong Kong: Esprit Holdings Ltd is listed on the Hong Kong stock exchange • 1995, New York: The Esprit licences Esprit eyewear, timewear, bath+bed, socks+tights complete the Esprit lifestyle world • 1996, USA: Esprit is voted 28th in the USA’s 100 most recognised brands • 1998, Düsseldorf: Launch of the young line edc by Esprit
2000 to date
• 2000, Hong Kong: Esprit Holdings Ltd is among the shares listed in the Morgan Stanley MSCI Hong Kong Index • 2001, Düsseldorf: Esprit’s brand recognition grows to 84 per cent in Germany • 2003, New York: Esprit Holdings Ltd completely buys back the American brand rights and has since been one of the few global companies with 100 per cent worldwide ownership of a brand • Düsseldorf: Heinz Krogner is appointed Deputy Chairman and Group CEO of Esprit Holdings Ltd. A global strategy for Asia, Australia, Europe, South America, USA and Canada is passed – the bundling of global functions in wholesale, retail, licences, visual, image and design. The Global Business Headquarters in Düsseldorf is the worldwide business centre of excellence and the Hong Kong financial centre has global responsibility for the brand • Ratingen: The company moves into the Global Business Headquarters Ratingen • 2004, Ratingen: An exhibition is held in honour of Ettore Sottsass at the Global Business Headquarters. The designer and founder of the Memphis style shaped the design and the architecture of the Esprit stores and showrooms worldwide • 2005, London: Esprit establishes the first Esprit Academy for the promotion of young junior talents from various fields. This is kicked off by a cooperation with the London School of Fashion • Hong Kong: Esprit appoints Thomas Grote President Esprit Brand • 2007, Hong Kong: Heinz Krogner is appointed Chairman and Group CEO • Ratingen: edc by Esprit becomes an independent brand with an independent team and its own strategy. edc by Esprit mono-brand stores present the complete edc product range • Berlin/Ratingen: MTV Networks International and edc by Esprit announce the extensive partnership with MTV Europe Music Awards 2007 • Berlin: Esprit sponsors the United Nations photo exhibitions “Chasing the dream” • 2008, Ratingen: Esprit launches the new label de.corp ESPRIT URBAN CASUAL young, urban and feminine • From 2008, India: Esprit is supporting a family education project in India for SOS Children’s Village
See also
References
External links
