Things haven't been too good for Esprit. As we reported, earlier on this month stocks in the company plummeted by 22 per cent despite the fact that they had enlisted the help of Gisele to help with a big re-branding effort.
Since that didn't work, for their fall 2012 campaign they've decided to use Erin Wasson, who has fronted their campaigns before, on her own. In the shots the model appears sporting simple parkas and staple knits oozing the laid back, painstakingly cool aesthetic that she's become known for. If they're trying to appeal to a more fashion conscious customer, Wasson seems like the perfect choice. After all, look how well she did as the face of Zadig & Voltaire.
Last night Esprit hosted a party to launch their new store on London's Regent Street but despite the expansion effort, it looks like things aren't going particularly well for the retailer.
Last year they brought Gisele and Erin Wasson on board to front their campaigns as part of an effort to shake things up but according to reports out yesterday, it hasn't had the affect that they had intended. CEO Ronald Van der Vis resigned at the beginning of the week and was followed by chairman of the board Hans-Joachim Körber, who stepped down yesterday.
Both departures have 'caused the company's stocks to plummet 22 percent on the Hong Kong stock exchange not that they were doing swimmingly beforehand,' The Cut reports. Analysts told WWD that the company is underperforming despite the big turnaround plan making its future look bleak.