Esprit Holdings Reports 16% Drop in Revenue for 2024, Gross Profit Increases Despite Insolvency Challenges

Reuters07-01

Esprit Holdings Reports 16% Drop in Revenue for 2024, Gross Profit Increases Despite Insolvency Challenges

Esprit Holdings Limited has announced its consolidated financial results for the year ended December 31, 2024. The company reported a revenue of HK$42 million, a decline compared to the HK$50 million recorded in the previous year. The cost of sales significantly decreased to HK$1 million from HK$19 million in 2023, resulting in an increased gross profit of HK$41 million, up from HK$31 million the prior year. Staff costs were reduced to HK$102 million from HK$147 million, and occupancy costs decreased to HK$2 million from HK$4 million. Despite these improvements, the company is transitioning to an asset-light, licensing-focused business model following the cessation of most retail, wholesale, and E-shop operations due to Insolvency Proceedings. Esprit remains committed to maintaining its brand presence and enhancing its brand equity globally.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Esprit Holdings Limited published the original content used to generate this news brief on June 30, 2025, and is solely responsible for the information contained therein.

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