Escada

Escada
Private
Industry clothing industry
Founded 1978
Founders Margaretha and Wolfgang Ley
Headquarters Munich, Germany
Key people
Products Women's fashions
handbags
shoes
fragrances
eyewear
kids fashion
Owner Megha Mittal
Website https://www.escada.com

Escada SE is a German luxury women's designer clothing company headquartered in Munich owned by Indian businesswoman Megha Mittal. As of 2017 Escada SE operates in 80 countries with 600 points of sale worldwide. The luxury fashion label employees around 1,500 employees with international locations in Milan, Paris, London, Beverly Hills, and New York City.

History

Escada was founded in 1978 by Margaretha and Wolfgang Ley in Munich, Germany.[1] Being a former model and having a solid education in tailoring from the Royal Court in Stockholm, Margaretha Ley became known for her bold, feminine designs. 1978 saw the first presentation of the Escada womenswear collection, which featured exquisite inlays and appliqués. The company soon stood out, with its distinctive creations featuring unusual combinations of colors and patterns, exclusive embroidery, and elaborately designed knitted fashions. Escada saw a rapid upswing and continually extended its collections and its creative work.

In the course of its international expansion, Escada SE went public in 1986. In 1994 the company launched the Escada Sport label, established its own accessories collection including bags and shoes and granted major licenses, collaborating with such partners as Procter & Gamble.

In 2007, the artist Stefan Szczesny created a new Escada collection in Saint-Tropez, France. Since July 2008, Bruno Sälzer was the acting CEO with responsibilities for design, marketing, and sales.

In 2009, Escada sold its subsidiary Primera AG, based in Münster, Westphalia which comprised the brands apriori, cavita, and Laurèl, as well as BiBA. On August 11, 2009, Escada filed insolvency at Munich Local Court, as an exchange offer for the outstanding bonds of €200 million was not accepted by the necessary 80% of all bond holders.[2][3] In November 2009, it was acquired by India's London-based billionaire Lakshmi Mittal, whose daughter-in-law, Megha Mittal, is the owner and Director of the Board. She is married to Aditya Mittal.[4]

On 20 February 2014, according to Women's Wear Daily, Bruno Sälzer will step down as CEO of Escada by December 2014.[5]

On September 1, 2016 Iris Epple-Righi joined as the CEO of Escada after 13 years with Calvin Klein and Tommy Hilfiger.

Niall Sloan joined Escada as the Global Design Director on August 1, 2017 after designing for luxury label Burberry and Hunter.[6]

Corporate affairs

ESCADA store panorama inside

Escada divides its business activities in three segments:

  • Fashion with the brands Escada Mainline and Escada Sport.
  • Accessories consisting of bags, shoes, and small leather goods.
  • Licenses which utilizes the Escada brand for fragrances, eyewear.

Notable clients

ESCADA Store front

Diana, Princess of Wales was a customer of Escada, famously wearing an Escada coat for a formal visit to Berlin in 1987. Kim Basinger was awarded the Oscar in 1988 in an Escada gown. Crown Princess Victoria of Sweden is a regular Escada customer. In 2010, she wore Escada to the pre-wedding party at the wedding of Prince Nikolaos of Greece. In 2011, she wore Escada to the Monaco royal wedding, the pre-wedding dinner for the British royal wedding, as well as the state visit to Germany. Sarah, Duchess of York, wore Escada to Elton John's White Tie and Tiara Ball in 2011.

Controversy

On 18 October 2007, the group "Global Network Against the Fur Industry",[7] which is made up of organizations such as Coalition to Abolish the Fur Trade or Offensive gegen die Pelzindustrie, launched a campaign against Escada, in the form of a day of action, in hopes of getting Escada to stop selling fur. According to their website, on October 18, there were 40 actions against Escada in 14 countries.[8] On October 6, 2007, Escada headquarters were vandalized by the Animal Liberation Front.[9] Since that date the campaign against Escada continues with regular pickets in front of Escada-outlets worldwide. In October 2010, Frank Elsner, the representative for press and business communication, confirmed to the campaigners that Escada will go completely fur-free, starting January 2011.

References

  1. ↑ "Escada - Fashion Designer Encyclopedia - women, men, shoes, style, new, body, history, collection, designs". www.fashionencyclopedia.com. Archived from the original on 2016-09-20.
  2. ↑ vgl. Modekonzern Escada muss Insolvenz anmelden Archived 2012-06-28 at the Wayback Machine. welt.de, 11. August 2009
  3. ↑ Sarah Gilbert (13 August 2009). "Escada out of fashion, declares bankruptcy". dailyfinance.com. Archived from the original on 2016-01-31. Retrieved 7 December 2015.
  4. ↑ "404. Page Not Found - Bloomberg". Bloomberg.com.
  5. ↑ Drier, Melissa (20 February 2014). "Bruno Sälzer to Step Down at Escada". WWD. Archived from the original on 21 March 2014. Retrieved 20 February 2014.
  6. ↑ Hays, Kali (14 June 2017). "Niall Sloan joined Escada as the Global Design Directora". WWD. Retrieved 14 June 2017.
  7. ↑ "Archived copy". Archived from the original on 2007-11-13. Retrieved 2007-11-12.
  8. ↑
  9. ↑ "BITE BACK Magazine". www.directaction.info. Archived from the original on 2007-11-27.

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