According to Ronald Van der Vis, CEO of Esprit Holdings Ltd, the company is the third largest apparel retailer in Asia in terms of market value. The company is going to switch more sourcing orders from southern China to Bangladesh.
Swedish apparel retailer Hennes & Mauritz AB, Spain's Inditex SA and US group GAP Inc are the major competitors of Esprit. The company registered a decline of 21 percent in its net profit from a year ago and touched HK$2.14 billion ($275 million) over the period of six months from July to December, 2010.
The company missed the average estimate of HK$2.16 billion made for the period from July to December, 2010. It is likely to continue its efforts in expanding its retail selling space.
Fibre2fashion News Desk - India
marketing@alchempro.com
