Hong Kong clothing retailer Esprit is to shut down standalone stores in the UK as part of its ongoing transformation strategy.

Reports from London suggest Esprit will dispose of four stores in the UK, including its flagship store in Regent St, and that it plans to shift focus to e-commerce and wholesale businesses in the market.

It has already shuttered stores in cities including Manchester, Norwich and Canterbury.

“Esprit is currently undergoing a transformation process aimed at strengthening its brand and its profitability in the long term,” said a company spokesperson.

“Esprit still maintains a strong market presence in the UK through our wholesale and e-commerce business channels. In order to create the necessary parameters for our transformation process, Esprit has, as part of a strict cost-cutting plan, decided to close some loss-making retail stores in Europe, along with other measures.

“The closure of these locations will help to resolve the current over-presence of stores in one area and also addresses the challenging market situation and overall situation of Esprit.”