Esprit relies on 1st German footwear retailer to get back on its feet
The German footwear retailer Deichmann (sales of €5.8 billion in 2018) and the Hong Kong-headquartered fashion brand Esprit (sales of €1.78 billion last year) sealed a new deal to develop a footwear range that will be available online and offline in both Esprit and Deichmann stores. Esprit is in the midst of critical restructuring in response to declining sales in the first half of 2019, with a loss of US$225.5 million. This collaboration is to optimize the “value for money” proposal. Deichmann is the largest shoe vendor in Europe, selling in 25 European countries and in the U.S., with 178 million pairs of shoes sold in 2018.