×
4 454
Fashion Jobs
DR. MARTENS
Finance Accounting Manager, Korea
Permanent ·
VIVIENNE WESTWOOD
Accounts Payable Assistant
Permanent · LONDON
MULBERRY
Warehouse Administrator
Permanent · SHEPTON MALLET
FRASERS GROUP
PR Manager - Flannels
Permanent · LONDON
EVERLAST GYMS
General Manager - Everlast Gyms
Permanent · EPSOM
BOOHOOMAN
Menswear Buyer
Permanent · MANCHESTER
PRIMARK
Business Analyst - Checkout Management Epos
Permanent · READING
PRIMARK
Business Analyst - Checkout Management Mpe
Permanent · READING
HOLLISTER CO. STORES
Hollister CO. - Brand Representative, Stratford (Westfield)
Permanent · London
LEVI'S
Keyholder - 30 Hours Per Week
Permanent · Norwich
L'OREAL GROUP
Prada Beauty Deputy Business Manager, 1.0, Harrods London
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Marks & Spencer - 15 Hours
Permanent · London
ESTÉE LAUDER
Clinique - Account Manager - Boots - 30 Hours
Permanent · Berkshire
ESTÉE LAUDER
Clinique - Consultant - John Lewis - 13 Hours
Permanent · High Wycombe
AESOP
Retail Consultant | Aesop Piccadilly Arcade, London | Full Time
Permanent · London
TK MAXX
Security And Loss Prevention Advisor
Permanent · Preston
TJX EUROPE
Brand & Marketing Administrator
Permanent · Grand Londres
TK MAXX
Loss Prevention Advisor - Glasgow And Surrounding Area - Full-Time- Permanent
Permanent · Glasgow
TK MAXX
Loss Prevention Officer - Permanent - 2 x pt 20hrs Bedford Town
Permanent · Bedfordshire
FARFETCH
Senior Performance Marketing Executive (DACH Region) – Affiliates And Growth Partner Marketing
Permanent · LONDON
RALPH LAUREN
Sales Professional
Permanent · London
RALPH LAUREN
Sales Professional
Permanent · London
Ads
By
Reuters
Published
Nov 4, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Decision on Escada sale by end of the week

By
Reuters
Published
Nov 4, 2009

FRANKFURT, Nov 4 (Reuters) - Bidding for insolvent German luxury fashion house Escada (ESCG.DE) is in its final stages and a decision is expected by the end of this week, two sources familiar with the matter said on Wednesday 4 November.

Escada
Photo: AFP

Three to four bidders were left in the process, a source close to the negotiations said, adding that concrete talks were only being held with three of them.

A decision could be made by the insolvency administrator any time before the end of the week, the source said.

One of the bidders is Sven Ley, son of Escada founder Wolfgang Ley. He said on Tuesday 3 November he had teamed up with the former head of Gucci, Giacomo Santucci, and Italian investment group Borletti to mount a rescue bid.

Megha Mittal, daughter-in-law of ArcelorMittal (ISPA.AS) Chief Executive Lakshmi Mittal, has also expressed an interest in Escada. A source close to the family told Reuters Mittal had made an offer.

Another source with knowledge of the matter said Los Angeles-based Oaktree Capital remained involved in the process and had spoken to the insolvency administrator, but it was so far unclear whether it would make a serious bid.

The crux of the bidding war is who will manage Escada in future.

The consortium around Ley has said it would replace the current CEO, Bruno Saelzer, with Santucci.

Mittal, on the other hand, supports Saelzer's approach of turning Escada into an affordable luxury fashion brand, offering more day-wear rather than the glamorous evening gowns Escada was once known for, the Mittal family source said.

Mittal would take a supervisory board seat, the source said.

Mittal has been looking for an investment in the fashion industry for about a year and has also expressed interest in Italian fashion brand Gianfranco Ferre (ITH.MI).

Escada said negotiations were continuing but declined to comment on individual bidders. (Reporting by Eva Kuehnen and Christian Kraemer in Germany, with Tom Freke in London; Editing by David Holmes)

© Thomson Reuters 2023 All rights reserved.