Esprit will bring its young fashion brand edc by Esprit to the UK as part of plans to open 150 stores worldwide in three years.
Esprit president Thomas Grote expects edc to generate a third of the group’s turnover following the expansion. The Hong Kong retailer will test an undisclosed number of edc stores in London once sister brand Esprit is established in the city.
Esprit wants to open a further 19 shops by July. Edc has 35 stores in Germany, Benelux and Scandinavia.
Grote said: “Long-term, we believe that edc has the potential to become two thirds of the size of the Esprit brand in terms of market volume.”
Group sales for the year to June 30 rose 27 per cent to HK$30 billion (£1.9 billion), with net profits up 39 per cent to HK$5.2 billion (£329.5 million).
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