End of an era for California cool as iconic retailer files for bankruptcy

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End of an era for California cool as iconic retailer files for bankruptcy

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A retailer once hailed as the epitome of California cool has filed for bankruptcy, becoming the latest casualty of the so-called 'retail apocalypse' gripping the US. Esprit, which was founded in San Francisco in 1968, surged in popularity in the 1980s and 1990s. It was beloved by young Americans for its bright colored clothes and cutting-edge commercials, including one featuring a teenage Gwyneth Paltrow in 1991. But the company struggled to keep up with rising competition into the 21st century, and a last-ditch attempt to revamp the brand in recent years failed to boost sales.
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