Esprit — iconic 90s fashion brand collapsed in Europe, 1,650 jobs lost

Esprit began as a San Francisco sportswear label in 1968 and became a global phenomenon in the 1980s and 1990s with its bold logos and relaxed Californian aesthetic. Its first German store opened in Cologne in 1986, and Germany grew into Esprit's largest market, with nearly 170 stores at its peak. The brand expanded across roughly 40 countries through owned stores, concessions, and wholesale, building a reputation as affordable fashion with a distinctive identity.

By the 2000s, Esprit lost its fashion relevance as competitors like Zara and H&M captured younger shoppers with faster trends at lower prices. The Hong Kong-listed parent company, Esprit Holdings, struggled for years, closing hundreds of stores across Asia and Europe. After exiting much of Asia in the early 2020s, the European arm faced mounting losses from pandemic disruption, rising costs, and a store network still too large for the brand's diminished appeal.

In early 2024, Esprit Europe GmbH and six German subsidiaries filed for insolvency at the Düsseldorf District Court. Self-administered proceedings opened on 1 August 2024. All 56 company-owned stores in Germany closed by end of 2024, cutting ~1,300 jobs. The Belgian subsidiary filed bankruptcy in April 2024, closing 15 stores with 148 jobs at risk. Operations in Switzerland, Austria, the UK, and other markets also ceased. The European trademark rights were sold to British investor Alteri. The brand continues as a licensing asset owned by the Hong Kong parent, with no European retail presence.