Why Esprit’s Ambitious Rebrand Fell Short

Esprit is closing stores and laying off staff in its US division as a global rebranding campaign appears to have faltered, The Business of Fashion has learned.

The company, which is publicly traded in Hong Kong but majority owned by a group of investors based in the city, said Wednesday it is in talks with potential investors to help the brand carry on with restructuring efforts.

Earlier this month, Esprit filed for insolvency for its Belgian…