Esprit shares jumped nearly 40 percent in intra-day trading on Tuesday on news that it had hired a senior executive from rival fashion retailer Inditex – distributor of the Zara and Bershka brands – to implement its HKD18 billion (USD2.32b) transformation plan.
The announcement that Jose Manuel Martinez Gutierrez, the former group director of distribution and operations at Spain-based fashion retailer Inditex, would become Esprit’s new chief executive was enthusiastically welcomed by investors.
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(Source: scmp.com)