The Indian billionaire's wife Megha Mittal has found a buyer for the ailing fashion brand Escada. For months, Mittal had been looking for a buyer for the company based in Aschheim near Munich. Now she has found something.
According to information from manager magazin, the contract was awarded to US financial investor Regent, LP, based in California. A purchase agreement has already been signed. The deal will be completed this year. Escada did not want to comment on that.
Read the whole story here on manager magazin premium .
Mittal joined Escada in 2009. However, she had failed to revive the once-shining brand. The operating result (Ebit) of Escada was negative in 2018.
photo gallery
10 pictures
Escada: pictures of a declineThe once popular fashion brand among supermodels and Hollywood stars has long struggled with problems. Read about the decline of the fashion house here the analysis: Female, new rich - and from yesterday.