German footwear retailer Deichmann has acquired the brand rights for Esprit’s shoe collections in Europe and the United States. The acquisition, which is part of Esprit’s ongoing insolvency restructuring, marks an expansion for Deichmann as it seeks to strengthen its footwear portfolio.

While Deichmann will focus solely on Esprit’s footwear products, the brand management company Theia Brands has obtained the textile rights to Esprit’s apparel. The finalised deal with Deichmann followed an initial agreement with British investor Alteri Partners, which was ultimately not completed.

Deichmann’s relationship with Esprit began in 2019, and the two companies have since collaborated on shoe collections. The acquisition will allow Deichmann to integrate Esprit’s shoe lines into its operations while leveraging the brand’s appeal in European and American markets.

The acquisition follows months of financial difficulties for Esprit, which have led to extensive restructuring. Earlier this year, Esprit announced the closure of multiple stores across Europe, including Belgium, the Netherlands and Germany. Approximately 56 stores are expected to close in Germany alone by the end of the year, affecting around 1,300 employees.

The Düsseldorf District Court opened proceedings for several Esprit subsidiaries, resulting in efforts to sell brand rights and other assets to cover debts. The sale of Esprit’s shoe brand rights to Deichmann aims to optimise the brand’s existing market presence in footwear while discontinuing direct retail operations.