Esprit to Close Bluewater Store

Hong Kong-based fashion conglomerate Esprit Holdings Ltd has confirmed it will close one of its two Esprit stores in the UK. The shop in Bluewater, trading since September 2001, will be closed due to "distance problems", as the London location is in a prime area on Regent Street.

Both stores have been experiencing trading problems and struggling with turnover, similar to the trading difficulties in Britain five years ago. With Zara and Mango as their high street competitors, Esprit has been failing to meet the consumer demands. Esprit plans to restructure its UK business, focussing on wholesale and franchise operations. A new UK headquarters is to be opened in Clerkenwell in the near future.