Former L'Oreal HK CMO Larry Luk heads over to Esprit

Former L'Oreal Hong Kong's CMO Larry Luk has joined Esprit as chief digital and marketing officer. Luk joined Esprit after spending about five years at L'Oreal Hong Kong.

In his new position, Luk will be responsible for pushing forward Esprit ’s eCommerce expansion through customer experience strategies and deeper storytelling marketing campaigns. He has extensive experience in the fashion industry, as he was vice president, eCommerce for APAC at Calvin Klein from March 2015 to April 2017. Prior to this position, he worked for Ralph Lauren for more than five years, where his last position was senior director, merchandising, eCommerce.

He also worked for adidas Group and Louis Vuitton in the earlier stage of his career. 

“I am excited to join this distinguished team to enhance the Esprit experience and offerings. It is an honour to be part of this iconic brand and to play an active role in the international comeback. The power of digital in branding and marketing is truly limitless. I am excited to be taking the brand even further and accelerate our next phase of growth with a new brand experience,” said Luk.

Speaking of this appointment, William Pak, CEO of Esprit said, "It is a delight to have him on board. He is a native brand builder who is not afraid to break new ground. His extensive experience in retail marketing fits perfectly with our roadmap to introduce the revitalised brand internationally, and his contribution will be invaluable as we move forward into a new era."

Recently. Pak was given the role of CEO effective from 1 March 2022, after approximately four months as he became interim CEO of the company with effect from 26 October 2021. In September, he was appointed as executive director and COO of the company. After the re-designation, Pak's appointment as executive director and COO of Esprit remains unchanged.

According to the company, Pak is experienced in identifying and revitalising underperforming areas and driving favourable results while ensuring sustainable growth. Prior to embarking on a career in the financial industry, Pak was a lawyer in the investment funds practice at White & Case’s New York and Hong Kong offices. Before joining White & Case, Pak worked in the mergers and acquisitions department in the San Francisco office of a major international firm where he provided transactional tax advisory services for mergers and acquisitions, reorganisations and spin-offs. Pak is entitled to a salary of HK$1,800,000 per annum, which has been determined by reference to his background, qualifications and industry experience, as well as duties and responsibilities with the Company’s global operations.

Currently, the brand is looking to revitalise its image. In an earlier financial statement released by the group, it said that the COVID-19 pandemic continued to generate “unparalleled disruption and constraints” within the company’s markets throughout the six months ended 30 June 2021. For the majority of the period, many Esprit stores were shuttered due to government-enforced restrictions. Additionally, Esprit has also announced a positive profit alert. The company said it was expected to record a profit after of about HK$370 million (US$47.26 million) for the twelve months ended on 31 December. This is the first financial year recording a profit since the financial year ended 30 June 2017.

The company said there were several reasons for business improvement. For example, it attributed to the improvement in sales with higher gross profit margin; the positive results of the implementation of efficient cost control measures by the group; improved inventory management; and growth in the eCommerce channel.

Related articles
Esprit names new COO as it eyes revamp of brand and digitisation