Esprit to Exit North America

Hong Kong-based Esprit Holdings Ltd. recently announced a restructuring plan that includes pulling out of the North American market and a few other European countries, according to www.wwd.com. The company said it has made a “strategic decision” to divest operations in North America, exit from retail operations in Spain, Denmark and Sweden, and close down certain additional unprofitable stores elsewhere to focus on better-performing markets. The decision will affect 93 directly managed retail stores in North America. The company is “exploring all options” to divest the brand’s North American holdings, according to Ronald Van der Vis, group CEO of