Esprit Returns to the United States with a Soho Pop-Up Store and Plans for Fifth Avenue Establishment

Esprit, for more United States. The German fashion distribution company, which closed its stores in the country ten years ago, has reinforced its return to the country with the opening of a pop up store in Soho, New York. The establishment will be located on Green Street and will have 278 square meters of surface area.

The company wants to return to the North American market so that the brand “has a global echo”, as explained by the company itself a few months ago. Esprit plans another opening in the country for 2023, which will also be located in New York, specifically on Fifth Avenue.

To achieve its objective and reaffirm itself in the United States, the German company opened new offices in the country in February, where it installed a design and marketing team. The new company headquarters are located at 160 Varick Street and have the capacity to house between 100 and 200 employees. The surface of the offices is 3,530 square meters.

Esprit continues its expansion in the United States with a new opening in Soho and plans a new establishment on Fifth Avenue

The German company closed all its establishments in the country more than ten years ago, but a few months ago it began its return to the United States with the opening of a pop up store in Los Angeles in november. With the California establishment, Esprit returned to her home state, where it was founded in 1968 by Susie and Doug Tompkins.

Currently, the company is looking for more available locations in the country and opening stores around other states. Besides, the German company wants to strengthen itself in Canada and plans to open stores in Toronto and Vancouver.

Esprit is one of the largest fashion distribution groups in the world, but it had been in decline for several years due to the crisis. In 2020, the company established a plan to return to profitability within two years and in 2021 it closed its first year in black numbers in four years.

However, according to the latest data, the German company ended the first six months of the year (ended last August) with a 6% drop in sales and a profit of 13 million Hong Kong dollars (1.4 million euros), a fall of 89% compared to the same period of the previous year.