Esprit inks new watch and jewelry licenses
Esprit has selected Dutch company Versteegh to handle its fashion jewelry license. For its watch and precious jewelry business, the brand stayed closer to home, selecting the Hong Kong-based TMS group.
The collaboration with Versteegh will officially begin on 1 July. With over sixty years of experience, the structure will be able to provide Esprit with a fast and reliable supply of merchandise, according to the brand, which will retail the new collection of fashion jewelry in all its physical stores and on its e-tail site.
VP Head of Global Licenses/Product Maria Pambori expects the new partnership to produce "a product portfolio that reflects the latest trends and interprets them through the philosophy of our brand Esprit."
Based in Houten, Netherlands, Versteegh is an international wholesaler specialized in fashion jewelry and accessories, including bags, sunglasses, watches, hair accessories and gloves. Besides sales and marketing the firm also employs Its own design and styling teams.
The contract between Esprit and TMS Group will also start on 1 July. The supplier will also be responsible for the sale, marketing and related after-sales service of Esprit watch production. TMS is taking over the license from Swiss company Mywa, whose agreement ends on 31 June.
In its first half year ending December 31, Esprit posted € 7.4 million in profits, while sales were down 9.9% to € 1.02 billion. This decline was mainly due streamlining its store network, which reduced its sales floor footprint by 14.3%.
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