Germany’s largest shoe retailer Deichmann has acquired the trademark rights of insolvent fashion company Esprit. It has taken over the shoe trademark rights of Esprit in Europe and the USA, but not the operational company’s shares, the shoe retailer announced in Essen. “We believe in the versatile brand,” a spokesperson said.

The spokesperson added that Esprit shoes fit excellently into the portfolio. Since 2020, the company has been developing and sourcing shoe collections together with Esprit.

Deichmann has acquired the complete trademark rights but intends to focus on the footwear product segment, it explained. According to Deichmann, it’s been Esprit’s licensee since 2019. The trademark rights for the Esprit textile sector are going to the Theia Group of Companies, a service provider specialising in brand management. The respective sale prices were not disclosed by the companies. 

The Düsseldorf District Court opened insolvency proceedings under self-administration for the seven German Esprit companies at the beginning of August. The trademark rights for Europe were initially supposed to go to British financial investor Alteri Partners. Then, Deichmann made an offer that received the approval of creditors, Esprit management, and Esprit Holding (Hong Kong).

According to Esprit, the process of winding down business operations at the insolvent German companies is proceeding according to plan. “As things currently stand, nearly all of the 56 remaining German Esprit stores should be closed by the end of November this year following the completion of sales measures.”