Clothing retailer Esprit Holdings Ltd. released its final results for the 2024 financial year on Monday evening, after a considerable delay. The figures were affected by the ongoing insolvency proceedings of almost all international subsidiaries and the resulting one-off effects. As part of the restructuring efforts and a shift in the business model to licensing partnerships, the company has now given up most of its retail and wholesale business and sold the brand rights for the European market.
Traditional business decline
According to the current annual report, consolidated revenue from continuing operations – excluding the shares of temporarily deconsolidated subsidiaries as part of the ongoing restructuring proceedings –…