Monday, 9 November 2009

Escada Lives On – 9/11/09

Insolvent German brand Escada has finally been purchased by a family company – the Mittals.

In a statement, Megna Mittal said, “Our first priority is to ensure that the great heritage of this iconic company is translated into a strong and successful future. Despite recent difficulties, Escada has the potential to redefine its place in the world of luxury brands and become synonymous with fine quality and elegance.”

According to WWD Fashion, Escada’s current C.E.O, Bruno Sälzer, will remain at the helm of the company.

We’ve been following the Escada insolvency since day one. Click here for our detailed report on August 13.

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,