The Esprit trademark rights are transferred to the Deichmann shoe chain. The fashion brand filed for bankruptcy in Germany and other European countries a few months ago.
After the bankruptcy of the fashion brand Esprit, the shoe company Deichmann received the trademark rights. A corresponding contract was signed after the creditors’ committees of the insolvent Esprit companies had given their approval, as Esprit Germany announced on Tuesday. The brand package includes not only shoe brand rights, but also European rights for the fashion brand, patterns and internet addresses. But Deichmann wants to concentrate on the shoe business.
Esprit filed for bankruptcy for its business in Germany and parts of Europe in May. Esprit’s 56 own German branches are to be closed by the end of November.
Deichmann has been offering Esprit shoes since 2019
The British financial investor Alteri, which owns fashion brands such as Street One and Cecil, was initially awarded the trademark rights in August. According to Esprit, this happened within the framework of a “basic agreement that is not yet binding”.
In the meantime, Deichmann submitted an offer as the new bidder, which the management, the creditors’ committees and Esprit Holding, based in Hong Kong, then decided on after renewed negotiations.
From Esprit to Galeria to FTI
These well-known companies have filed for bankruptcy
Deichmann has been offering Esprit brand shoes since 2019 and pays annual license fees for them. According to the information, the company is acquiring the entire trademark rights, but wants to concentrate on the shoes sector. As Esprit explained, the textile division will go to the brand management company Theia Group of Companies.
Source: Stern
