HONG KONG/MADRID (Reuters) - Esprit Holdings' chief is doubling down on a bet to fix the struggling clothing retailer he took charge of a year ago by revamping its existing business model and recreating it in the image of his former employer-now-rival, Zara. Jose Manuel Martinez Gutierrez, 44, has stacked his management suite with veterans of Zara owner Inditex (ITX.MC), the world's biggest retailer whose model of rapidly changing fashion analysts say is among the best in the industry. The former McKinsey consultant and supply-chain whiz has laid the foundations for Esprit's recovery over the next 12-18 months with his nuts and bolts overhaul - he cut 10 percent of Esprit staff in the past year - but the real gauge of success will be in growing sales. "Our business figures are extremely far from our goals and expectations," he acknowledged in a letter to shareholders in Esprit's most recent annual report in October.
via Business News - Yahoo Finance http://finance.yahoo.com/news/cut-same-cloth-esprit-tries-211003470.html
0 commentaires:
Enregistrer un commentaire