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Who will save Escada?
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With the famous fashion house Escada collapsing, there are several suitors wishing to resurrect the struggling european fashion brand. This line as well as several other top fashion houses have filed for bankruptcy protection as a troubled economy takes its toll.
There is currently a bidding war with some very powerful players. So who are they? Beirut based M1 group which bought Faconnable from Nordstoms for $210 million is one. The founders son Sven Ley is another. Vestar Capital Partner's which is a group that owns the St. John knit line is interested. Megha Mittal, who is the daughter of steel magnate Lakshimi Mittal ( one of the richest people in the world ) has her eyes on Escada.
Escada is a favorite of celebrities walking the red carpet. Escada has 182 shops and 225 franchises in 60 countries. There is tremendous interest in the brand and bets are the brand will continue in some FASHION!
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