HONG KONG, Dec 29, 2021 - (ACN Newswire via SEAPRWire.com) - ESPRIT HOLDINGS LIMITED ("Esprit", "the Company" or "the Group"; HKEx: 00330) is pleased to announce that it has several exciting developments in the pipeline, which clearly hints at the return of the "Esprit" brand to the Asian market. After relocating its headquarters back to Hong Kong earlier this year, the Group is delighted to announce the appointment of its new Chief Product Officer ("CPO"), Mr. Sang Langill ("Mr. Langill"), who joined the Company in September 2021, spurring the creation of a series of new capsule collections and adjusting the Group's strategy to focus on its e-commerce expansion. For the six months ended 30 June 2021 ("the Period"), during which time the Group underwent a number of operational changes, Esprit recorded a turnaround from loss to profit for the first time since the annual results for the year ended 30 June 2017, highlighting the success of its ongoing restructuring activities. Unaudited profit attributable to the shareholders of the Company was approximately HK$121 million, as compared with the unaudited loss attributable to the shareholders of the Company of approximately HK$3,661 million for the prior corresponding period. This positive result was partly due to the stringent cost control measures implemented by the Group, as well as a significant reduction in losses for exceptional items and the improvement in sales, particularly from its e-commerce channels.Additional noteworthy financial highlights for the six months ended 30 June 2021 (unaudited) include: 1. EBIT turned positive to HK$164 million, a substantial improvement in performance reversing the HK$3,119 million LBIT for the comparable six months period ended 30 June 2020. EBIT margin was reported at 4.2%;2. Net profit attributable to shareholders for the six months ended 30 June 2021 was reported at HK$121 million with net profit margin of 3.1%, reversing the HK$3,661 million net loss for the comparable six months period ended 30 June 2020; and 3. Inventories as at 30 June 2021 was reported at HK$1,249 million, representing 1.2% reduction compared with HK$1,265 million reported as at 30 June 2020, and 32.3% reduction compared with HK$1,845 million reported as at 30 June 2019 as a result of rationalisation of inventory management efforts.Adhering to the Group's motto - "We want to make you feel good to look good" - Esprit has continuously been enhancing its products in terms of design and quality, focusing on apparel that last longer and in turn, are more environmentally friendly and sustainable. Having developed into a brand coveted by people around the world, Esprit is now excited to announce that it will be launching a series of new capsule collections throughout 2022 via omnichannel. The pieces in these collections are not just apparel products; they have been lovingly designed around themes infused with Esprit's DNA, ultimately aiming to ignite a sense of nostalgia with the customer and to evoke memories of love, joy and happiness that they shared with Esprit. By focusing on the brand's story back in the late 70s through the 90s, the team hopes to bring its colorful heritage and successes into the modern age, reminding customers of Esprit's long history as a leader in fashion, encouraging them to feel the same way that its designers do about the brand and their creations.The limited edition capsule pieces have been curated and designed by members from garment and product design, merchandising, branding, and concept to consumer teams, located in different regions including Germany, Seoul, New York, Los Angeles, and, last but not least, Hong Kong. Together, these teams form Esprit's global design hub, led by the Company's CPO, based in Hong Kong. Mr. Langill says, "I am excited and honoured to be part of a brand with such a strong heritage. Furthermore, I am impressed by the passion and dedication exhibited by the teams throughout all our regions. I am confident that our love and passion for Esprit will be reflected in our upcoming collections."Going forward, e-commerce will be Esprit's key strategic pillar for its global ambitions. The Group is now looking into leveraging its e-commerce partnerships and expansion of its own proprietary direct-to-consumer e-commerce platform to accelerate this growth driver in Asia. Meanwhile, the Group is also accelerating its first-party data capture and smart use of data to increase brand awareness and strengthen customer loyalty.Ms. CHIU Christin Su Yi, Chairman, concluded, "Sang will take on the global leadership of the product and merchandising side of the business. I have great confidence and expectations for Sang and his team to introduce new innovation and creativity to Esprit's product offering to not only drive sales but to also help our brand better engage with customers in a meaningful way."Please look out for the many more exciting developments to come!About ESPRITFueled by the vision of essential positivity, Esprit was founded in California by couple Susie and Doug Tompkins in 1968. Inspired by the revolutionary spirit of the 60s, the brand developed a clear philosophy - always celebrating real people and togetherness, in line with the brand's promise: "We want to make you feel good to look good". The success story of Esprit is based on two pillars: Delivering joy every day through laid-back tailored, high quality essentials and carefully selected fashion-forward pieces while staying true to its core values of sustainability, equality and freedom of choice. Example: In the early 90s, long before "Eco Fashion" became fashionable, Esprit debuted its first "ecollection" made of 100% organic cotton and featured its own team instead of models in honor of their "Real People Campaign."Keeping this spirit alive since day one, today Esprit has a presence in more than 30 markets around the globe. The Group has been listed on the Hong Kong Stock Exchange since 1993, and Esprit's global headquarters is located in Hong Kong. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE - Singapore will classify countries and regions into four categories, with differentiated border measures for each. Here's a look at the Covid-19 situation as at Aug 19 in regions under Category I, II and III - Category IV refers to all other countries and regions not in the earlier ones - as well as the two countries under the new Vaccinated Travel Lane. Vaccinated travel lane Germany Visitors walk past stands offering the opportunity for free vaccination shots to fans and residents ahead of a German Bundesliga football match in Cologne, western Germany. PHOTO: AFP Over 98 million vaccine doses have been administered, with 57.9 per cent of the population fully vaccinated with Moderna, AstraZeneca, Johnson & Johnson or Pfizer/BioNTech vaccines. The country is seeing 5,223 new infections reported on average each day. There have been 3,837,488 infections and 91,921 deaths. Brunei Brunei has given 214,385 doses of Moderna, Pfizer/BioNTech, Sinopharm and Astrazeneca vaccines, and 11.3 per cent of the population have received both doses. It is reporting an average of 64 new infections each day. It has seen 946 infections and three deaths. Category I Hong Kong People walk past a government banner encouraging the public to take the vaccine in Hong Kong, on Aug 15, 2021. PHOTO: AFP Hong Kong has administered 68.2 million doses of Pfizer/BioNTech and Sinovac vaccines so far, with 39.8 per cent of people having got both doses. It is reporting three new infections on average each day. It has seen 12,042 cases and 212 deaths. Macau Macau has administered 569,000 doses of Pfizer/BioNTech and Sinopharm vaccines, with 37.8 per cent having received both doses. It has so far seen 63 cases with no reports of deaths. China Residents wait at the observation area during a vaccination session for those aged between 12 and 14, in Heihe, China, on Aug 3, 2021. PHOTO: REUTERS China has given 1.88 billion vaccine jabs, with 55.5 per cent of its residents fully vaccinated. It has approved the use of six vaccines, all homegrown. Mainland China is reporting 51 new infections on average each day. It has seen 94,522 infections and 4,636 deaths so far. New Zealand A total of 2,610,013 vaccine jabs have been administered, with 19.4 per cent of the population fully inoculated with Pfizer/BioNTech, Johnson & Johnson or AstraZeneca vaccines. Infections have been rising with four new cases on average each day. There have been 2,936 infections and 26 deaths. Taiwan A medical worker administers a dose of the AstraZeneca vaccine to an elderly at a stadium in New Taipei City, Taiwan on June 25, 2021. PHOTO: REUTERS Taiwan uses vaccines developed by Medigen, Moderna and AstraZeneca. Only 3 per cent of the population has been fully inoculated. It is reporting 11 new infections on average each day. There have been 15,897 infections and 821 deaths. More on this topic Related Story Fully vaccinated travellers can travel to Germany and back without serving SHN from Sept 8 Related Story Fully jabbed travellers to Singapore to qualify for differentiated vaccination measures Category II Australia A healthcare worker administers the vaccination at a drive through testing facility in Melbourne, on Aug 19, 2021. PHOTO: EPA-EFE Australia has administered 15.89 million jabs, and 21.5 per cent of the population has been fully vaccinated with Moderna, Pfizer/BioNTech, Johnson & Johnson or AstraZeneca vaccines. Infections have been rising, with 486 new infections reported on average each day. There have been 40,774 infections and 970 deaths. Canada People exit an Econofitness gym guarded by security amid a protest against the use of a vaccine passport, in Laval, Quebec, Canada. PHOTO: REUTERS Canada has administered over 51.8 million doses and 62.7 per cent of the people have been fully vaccinated with Moderna, Pfizer/BioNTech, Johnson & Johnson, AstraZeneca vaccines or the one from Serum Institute of India (which is an AstraZeneca formulation). Infections have been rising with 2,124 new cases on average each day. It has seen 1,460,175 infections and 26,761 deaths. South Korea A woman gets a Covid-19 test in Seoul, South Korea on July 15, 2021. PHOTO: REUTERS South Korea has given 34.27 million jabs with 20.3 per cent of the population fully inoculated with AstraZeneca, Moderna, Pfizer/BioNTech or Johnson & Johnson vaccines. About 1,802 new infections are reported on average each day. There have been 230,808 infections and 2,178 deaths. More on this topic Related Story S'pore to classify countries, regions based on risk, with differentiated border measures for each Related Story S'pore to watch for rising Covid-19 infections as it gears up to reopen borders: Gan Kim Yong Category III Austria Over 10.21 million doses of Moderna, Pfizer/BioNTech, Johnson & Johnson and AstraZeneca vaccines have been administered, with 56.9 per cent of the people fully inoculated. There have been 936 new infections reported on average each day. The country has had 671,593 infections and 10,757 deaths. Belgium A view of Rue Neuve, the main commercial street of Brussels, Belgium. Face masks are no longer mandatory in Belgium except in some of the main commercial streets, but the rule is less and less respected. PHOTO: EPA-EFE Belgium has administered 15.68 million jabs, with 67.4 per cent of the population fully vaccinated with AstraZeneca, Moderna, Pfizer/BioNTech or Johnson & Johnson vaccines. It is seeing 1,927 new infections reported on average each day. There have been 1,156,620 infections and 25,299 deaths. Denmark Over 8.25 million jabs have been administered, with 67.2 per cent of people fully inoculated with Pfizer/BioNTech, Moderna or Johnson & Johnson. Denmark is seeing 989 new infections reported on average each day. There have been 333,815 infections and 2,562 deaths. Italy Protesters demonstrate against the Green Pass plan in Italy, a certificate that shows if someone has received at least the first dose of a Covid-19 vaccine, has tested negative, or has recently recovered from Covid-19. The pass has become mandatory to access an array of services and leisure activities. PHOTO: REUTERS Over 74.49 million shots have been given, with 59.4 per cent of the population fully vaccinated with AstraZeneca, Moderna, Pfizer/BioNTech or Johnson & Johnson vaccines. It is seeing 6,229 new infections reported on average each day. There have been 4,456,765 infections and 128,579 deaths. Japan People wait in an area to be observed after receiving a dose of the Covid-19 vaccine at Aoyama University in Tokyo on Aug 2, 2021. PHOTO: AFP Japan has administered 113.35 million jabs and 39.1 per cent of the people have had two doses of vaccines from Takeda, Pfizer/BioNTech or AstraZeneca. Infections are at their peak, with more than 18,659 new cases each day. There have been 1,207,315 infections and 15,528 deaths. Luxembourg It has administered 748,777 jabs, with 56.5 per cent of the population fully inoculated with AstraZeneca, Moderna, Pfizer/BioNTech or Johnson & Johnson jabs. It is reporting 51 new infections on average each day. There have been 74,855 infections and 829 deaths. Norway Over six million doses of Pfizer/BioNTech, Moderna and Johnson & Johnson vaccines have been administered, with 42.9 per cent of the country fully covered. There are 537 new infections reported on average each day. Norway has had 145,760 infections and 811 deaths. Switzerland Health workers wait prior to administer Moderna vaccines at a newly-opened vaccination center in Lausanne, on April 19, 2021. PHOTO: AFP Just over 9.3 million doses have been administered, with 50.6 per cent of the people fully covered by Moderna, Pfizer/BioNTech or Johnson & Johnson. There are 2,321 new infections reported on average each day. There have been 747,396 infections and 10,436 deaths. Additional information from Reuters, Bloomberg More on this topic Related Story Limits to the benefits of pivoting to endemic Covid-19 in S'pore Related Story Travel to and from S'pore without quarantine: How the new Vaccinated Travel Lane works