Speaking at today’s Drapers Fashion Forum, Esprit’s managing director in Europe and the rest of the world, Christophe Bezu, once again highlighted the value of the omnichannel customer to fashion businesses, reporting that 60% of revenues are from this shopper.
Speaking of the importance of customers shopping on more than one channel to generate further sales, Bezu said omnichannel has been a big focus as part of the German brand’s repositioning in recent years and is one of the areas they expect to continue to grow from in the future.
Detailing the brand repositioning, which Bezu said began in 2012, changes have included realigning the pricing to an upper-mid price point as well as ensuring product meets the brands values of casual fashion that is good quality and value for money. In order to do this, the brand hired a new team of designers to ensure the brand is capturing market trends and newness in colours, fabrics and shapes whilst ensuring they are translated in the casual, relaxed, comfortable Esprit style.
Bezu said the new strategy meant the business needed to move away from an outdated business model that did not have enough speed and efficiency for today’s market. The business had to introduce the right tools, stock management processes and systems to maximise sell-through on multichannel platforms. Bezu said of the approach “Whether it’s retail stores, retail ecommerce or wholesale, the execution must be made consistently across all channels.”
Looking to the future, Bezu said that mobile-first and personalisation would both be key as well as developing click and collect alongside a scan-and-shop app. He concluded that further growth opportunities will come from international expansion, especially in China and also suggested a return to the US market for the brand.