Esprit appoints new COO and MD of Europe ops

Fashion brand Esprit is engaged in a turnaround effort, and has recently hired a new senior executive to spearhead its European operations and international expansion. In November, Konstantinos Balogiannis joined Esprit, which is based between Hong Kong – where it is listed on the local stock exchange – Germany and the USA, as COO/Managing Director Europe & Global Business Development, as Balogiannis himself announced on LinkedIn.

“I will concentrate [on] contributing as much as possible to [Esprit’s] new elevated global strategy,” he also posted on LinkedIn. Balogiannis had been working for German outdoor apparel brand Bogner since 2017, having been in charge of its wholesale business for the last four years. Previously, he worked from 2009 to 2017 at German fashion retailer Tom Tailor, where he held various positions, including head of international sales and COO Asia.

Under the aegis of its boss William Pak, Esprit is trying to reinvent itself by drawing more heavily on its Californian roots, and by moving some of its products into a more upmarket segment, as Pak told FashionNetwork.com in Paris this autumn.

Esprit’s latest business results do not yet reflect these efforts. In H1 2023, which closed on June 30, the company, which was founded in 1968, reported a 17% revenue shortfall, down to HK$3.25 billion, or €383 million. Esprit’s net loss amounted to HK$714 million, compared to the HK$13 million profit recorded in the same period last year.