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Retailer Esprit says China market a priority and big opportunity

People shop at an Esprit Outlet store in Singapore September 10, 2013. REUTERS/Edgar Su
People shop at an Esprit Outlet store in Singapore September 10, 2013. REUTERS/Edgar Su

HONG KONG (Reuters) - Retailer Esprit Holdings Ltd <0330.HK> said on Friday China remains a big opportunity, listing it as a priority over the next two years, even after reporting a drop of 24.5 percent in overall turnover in that market.

The company also said it had hired Bernard Mah, a former executive of Hong Kong-listed Giordano <0709.HK>, as managing director. Mah was chairman of Giordano's China operations for 17 years through 2013.

Earlier on Friday, Esprit said it had swung to its first profit in a year after its new chief executive introduced a plan to cut costs and revamp its supply chain.

(Reporting By Clare Baldwin and Downny Kwok; Editing by Anne Marie Roantree and Clarence Fernandez)

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