Esprit appoints adidas exec for China expansion
Hong Kong-based clothing brand Esprit Holdings has appointed Holly Li as the new chief executive of its China operations with effect from February 2012, to head the company’s expansion in China.
Ms Li, currently vice-president and general manager for northern China of sportswear company adidas, would report directly to Esprit chief executive Ronald van der Vis, and her main objective would be the company’s growth in China, the fashion group said in a statement.
Esprit said in September that it aimed to double sales in China to $770 million over the next four years and expand its point-of-sales network to 1,900 from 1,000.
The company added that it was establishing a design centre in China. Esprit said expansion in Asia would be focussed on the growth markets of China, Malaysia, Taiwan and Singapore.
Esprit, which depends on Europe for about 80% of its sales, is withdrawing from some underperforming markets and spending millions of dollars to revive its brand.
