Esprit Hires Ex-Zara Product Chief

Esprit Holdings Ltd. (Hong Kong) has named Rafael Pastor Espuch as chief product officer.

Pastor is an 18-year veteran of Zara, one of Esprit’s major competitors in the European market. He replaces Melody Harris-Jensbach, who quit earlier this month and will be a consultant on several projects next year, and rejoins Esprit ceo Jose Manuel Martinez Gutierrez, another former Zara executive.

The announcement precipitated a 7.8 percent jump in Esprit stock on the Hong Kong exchange, its biggest gain in a year.