Esprit Global (00330) announced that on April 17, 2024, the company signed a non-legally binding memorandum of understanding with interested investors regarding potential investments and cooperation. According to the memorandum of understanding, a special purpose company will be established to manage and operate the Group's European business; interested investors will assist the company in restructuring the Group's European business; and interested investors plan to obtain financial benefits from the company.
The interested investor is an international private equity group. Realizing that the company's previous brand direction had not met expectations, the company decided to embark on a rebranding journey with a new partner. The Group believes that potential investments and collaborations are consistent with the Group's growth and restructuring strategy. If potential investments and partnerships are implemented, the Group will be able to focus on its key strategic markets (including North American and Asian markets) and future development. At the same time, the company anticipates that it will gain substantial advantages from potential investments and potential synergies of cooperation, and that the company will continue to benefit from the brand's European operations.