Esprit

SHANGHAI — Esprit has unveiled a new management team in its latest attempt to resuscitate the brand, with Mark David Daley now installed as chief executive officer.

Daley, 56, is described by Esprit as a 30-year retail industry veteran and was most recently the ceo at the fashion brand, Billy Reid. He has held the ceo position at a number of premium companies including skin-care label Augustinus Bader, stationery goods maker Symthson of Bond Street, upscale grocer Dean & Deluca, and served as Asia Pacific president of Ralph Lauren.

Daley cut his teeth at DFS Group where he worked for more than two decades, rising to global president of operations and business development. Daley holds bachelors degrees in economics and sociology from Stanford University. Daley’s installment is effective beginning Dec. 24 and he replaces Anders Kristiansen, who had been in the role since mid-2018.

The brand also announced Wan Yung Ting as chief product development officer. Wan, 40, comes from academia, jumping from her former role as an assistant professor for college of art and design at Beijing University of Technology. Wan previously worked at Taiwanese Far Eastern Textile Ltd., focusing on application of functional fabrics and sports brands. Wan obtained a Ph.D. in art theory from Peking University, a master of arts in arts and cultural management from Peking University, and a Bachelor of Engineering in fiber and composite Materials from Feng Chia University. Wan’s official start date was also Dec. 24.

Over the last decade, Esprit has quickly cycled through a number of ceo’s — including Ronald Van der Vis, Jose Manuel Gutierrez and Kristian Andersen — with each restructuring effort seeing only muted effect.

For the year to June, the company recorded a loss of 3.9 billion Hong Kong dollars, or $515 million, widening from the 2.1 billion Hong Kong dollars the year before. Germany, its most important market, was put into bankruptcy protection this past summer, and its venture with Mulsanne Group to relaunch Mainland China was abruptly called off.

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