Esprit is a Hong Kong based publicly owned manufacturer of apparel, footwear, accessories, jewellery and homewares under the Esprit label. The company is headquartered in Kowloon, Hong Kong, and Ratingen. In the 2007–2008 business year, Esprit Holdings Limited generated a worldwide sales of around EUR 3.25 billion. Esprit operates more than 770 retail stores worldwide and distributes products to more than 15,150 wholesale locations around the globe. Esprit has more than 1.1 million square meters of retail space in 40 countries. The ESPRIT brand name is licensed to other manufacturers. In addition, the group owns the Red Earth cosmetics brand. The Esprit flagship stores feature both current Esprit fashion lines and licensee products under one roof. Esprit has an architecture department that is responsible for the worldwide design of its stores. In September 27, 2011 Esprit Holdings Ltd. valued at just $1.4 billion or loss more than 90 percent from a $20 billion company 4 years ago, but according to Credit Suisse, Esprit’s brand is valued at $3.4 billion. Esprit has outlets in all the leading shopping malls in Dubai.