BERLIN — Esprit suffered a second major management setback Wednesday with the resignation of the company’s chairman and independent non-executive director Hans-Joachim Körber. Esprit chief executive officer Ronald Van der Vis stepped down from his post on Tuesday, sending Esprit’s shares into a tailspin.
Prior to the announcement of Körber’s departure, the Hong Kong-listed company suspended trading from 1:30 p.m. Wednesday, June 13, to 9 a.m. Thursday, June 14, Hong Kong time. Shares dropped 22 percent to close at 10.54 Hong Kong dollars, or $1.36 at current exchange, prior to trading being suspended.
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EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)