South China Morning Post: Clothing Giant Esprit To Shut Down All 56 Stores In Asia Outside Mainland China As Coronavirus Ravages Sales

Apr 27, 2020

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Esprit Holdings will close all its stores in Asia outside mainland China as part of its effort to cope with challenges posed by the Covid-19. “Apparel is one of the retail sectors which is hardest hit by Covid-19, revenue decline in the sector so far this year is enormous and there is no recovery in sight, not even in China where stores are open again but spending is still significantly below normal levels,” said Imke Wouters, partner at Oliver Wyman. The story syndicated to Today and Yahoo Finance.

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