Esprit Exits the German Market: Closure of All Retail Outlets Confirmed

Esprit, the once-popular fashion retailer, is set to close all its stores in Germany by the end of January, marking the end of its presence in the country. A spokesperson for the company confirmed this development to the press, stating that the final closures are in line with previously announced plans.

Initially, the company intended to shut down its remaining 56 stores by the end of November. However, nearly 30 locations were kept open longer to capitalize on the holiday shopping season.

The decision to close all German stores follows Esprit's declaration of insolvency in May 2024 due to financial difficulties, including insolvency and over-indebtedness. Despite efforts to find a buyer, no viable solution was established. In August 2024, it was officially announced that all German branches would be closed and the company would be liquidated, resulting in approximately 1,300 employees losing their jobs.

The rights to the Esprit brand in Europe have been acquired by Deichmann, a well-known shoe retailer that has been a licensee of Esprit since 2019. Deichmann plans to focus on the footwear segment of the brand. Meanwhile, the rights to Esprit's textile division have been handed over to Theia Group of Companies, a specialist in brand management. While Theia Brands has expressed intentions to collaborate with Deichmann to revitalize Esprit in Europe, specific details regarding future product availability in Germany remain unclear.

At its peak, Esprit operated over 1,100 stores worldwide. However, by 2023, this number had dwindled to just around 150, alongside various franchise outlets. Many of the independently operated stores in Germany either closed or transitioned to different brands amid the insolvency proceedings.

Esprit's main corporate entity, Esprit Holding, is headquartered in Hong Kong, but Germany has historically been one of its most important markets. At one point, the company operated about 170 stores in the country, with its first location opening in Cologne in 1986.

The closure of Esprit's stores in Germany signifies a notable shift in the retail landscape, particularly for a brand that once held a significant cultural status in the fashion industry.