Esprit forms partnership in China establishing a strong base for accelerated growth

In order to create a strong base for growth and expansion in China – one of Esprit’s most crucial markets – the fashion company signs a joint venture agreement. The partner, Mulsanne Group Holding Ltd. (MGH), is an experienced apparel distributor with proven competence in China.

Both companies contribute capital, with MGH holding 60% and Esprit 40% of the joint venture entity. The deal covers mainland China and excludes Hong Kong, Macau and Taiwan.

Anders Kristiansen, CEO of Esprit Group says, “We are exceptionally happy with the deal. MGH has a proven track record of success in China and an already significant apparel business. With local knowledge and a very clear understanding of the Chinese consumer, MGH is the ideal partner for Esprit’s ambitious plans in this important market.”

Mr. Yu Yong, the CEO of MGH says, “Esprit is an iconic brand with a unique heritage and authentic founding values. We are thrilled to have Esprit in our portfolio and are looking forward to building a bright future for the brand in China.”

Over the coming months, Esprit and MGH will work out a detailed plan on the arrangement going forward. The transaction is subject to China Antitrust approval.