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Esprit's clear cut – almost 500 points must be removed



DThe future presentation of Esprit is pages 117. The Chief Executive Anders Kristiansen shows how he wants to; A badly different banner from Ratingen near Düsseldorf back on the way. And although the large extent of the document could be a mistake of poor location; company. Equal content is very meaningful: Kristiansen wants to close shops, stretch inside structures and, in large part, reduce staffing numbers.

After that, 40 per cent of staff in all areas outside the shop network should lose their jobs. This threatens a clear clear cut in the corporate headquarters in the Rhineland, where around 1200 staff are currently working. After all, nearly 500 jobs would be allowed to recommend the quotas.

Although there are ongoing discussions with their job council. So Kristiansen added up to special statements about the Ratingen place. The Ver.di service union was recently but the worst ones were already scared, especially as the Chief Executive asked within a letter to German staff " recycle just, in the future "and also talk about Esprit's" dramatic economic situation ".

More basic products instead of lively patterns

In fact, the crest in an emergency seems unfinished. For five years now, it has been declining by Esprit, protected by the previous restructuring efforts. Income in the 2017/2018 financial year, which ended in late June, also decreased considerably: with 11 per cent directly € 1.7 billion. A basic loss of almost 250 million. in the bottom.

And in the new fiscal year it has even been even worse. To a large extent of 17%, revenue decreases in the July opening quarter to September, with hot summer to add its part. In Germany and in Europe, at least, Fashionable trades that complain due to the high temperatures of frequency frequencies in stores, but also an inconvenience in online trading.

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Now Kristiansen is going to throw her; skin. "We need a rebuilding business model," said the day-to-day Dane of a company and company in Hong Kong, where Esprit is listed on stock money. According to its display, this includes, for example, a change in the # 39; airport. "We want to have trousers, T-shirts and sweaters in the future," said Kristiansen. Approximately half of the product range will be used to make these key materials in the future.

To this end, Kristiansen is planning to & # 39; attracts much more stringent goods instead of unusual patterns and pictures that are at great risk of fashion. So far, basic outcomes comprise about two dozen percent of the product range, and in the future the department should be around three times higher than 30 per cent.

Give a step to the copy

At the heart of the mind is the real-known retail activities, ie the business with trading partners who sell many branded fashioners under the same roof. "The re-showcase will have an important role in the repository business," named Kristiansen, who was working for a privately owned private company Permira before going to Esprit.

According to the information of the Organization, there are 5400 sales points and there are 3350 in Germany only the market is still important for Esprit. In front of this there are 140 shops in this country – at least anyway. For Kristiansen wanting to close a fall loss business in the coming years, for 28 there are already concrete solutions.

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To continue further, however, hard negotiation may still be necessary. Given that sprit has said many agreements are in many places, as it is called by the business. The problem: Many of these stores are located in locations B or near other branches, which date back to the strong expansion since the time of emergence.

Esprit has been a key indicator – and has not been back to today, as business experts say. "No desire," said fashion manager. "Sprit was spread over. The logo has become irregular." Kristiansen also wants to work on that. Other influences include helping Esprit make it more difficult again.

"That's how Esprit said five years ago"

At the same time, the manager also names the quality of the attack, for what is appropriate. To date, there is no status. So the size L can change its size from collection to collection. Behind this, most of the headquarters do not have most of the duties. "There are many projects that fail due to double and dual duties," said business experts.

Although Kristiansen, José Manuel Martinez, in advance, made many processes and expanded online business to almost 25 per cent of sales. In the administration, he did not change the barriers and staffing levels to their venture industry over the years, say observers.

Kristiansen estimates that the costs for future restructuring will be around 170 million euros in the next two or three years. After this time, the place of prophecy should be reached, so Esprit will receive money again. And then, according to Kristiansen, a new level of emergence, especially in Asia, and especially in China, which the manager has chosen as a critical target market can take. Then it will be opened compared to the new sources in Europe. Spectators, however, are still incredible. "That's how Esprit said five years ago: first restructuring, then new growth."

Financially, Martinez seems to have been successful. After all, Esprit has no debt and there is also a million free flow sum. But since the numbers of square meters in the remaining stores are declining, new shops have been installed; Getting started on the renewal list and everything has to start again. "This is a dangerous spiral down. And that's going to be the start so badly," experts know. of course.

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