- Catch It While You Can
- This Just In
- If Money's No Object
- State of Independence
- Trend, Treat, Treasure
- If Everyone Jumped...
- STYLE
- Little Black Dress of the Week
- Beauty Under $10
- MEN'S STYLE
- T-Shirt of the Week
- Grooming Under $10
Escada Tries To Escape Financial Woes
by Gabrielle Hennessey
International luxury brand Escada is still in hot water after filing for insolvency this August, but ZSL Partners, a consortium backed by the company founder’s son, Sven Ley, has stepped forward to bid on the fashion house in an attempt to save it from going under.
ZSL Partners is comprised of Ley, former head of Gucci Giacomo Santucci, and Italian investment group Borletti and is backed by several (unnamed) wealthy families. Escada has not yet reached a decision on the final buyer, but a small number of investors have come out of the woodwork to save the ship, with ZSL Partners offering a little over $118 million. An official announcement will likely be made within the next couple days, sources say.
We hope Escada will be able to pull itself out of its financial mire and continue to be the great fashion house we love to watch.
Read the full story {Reuters}
November 3, 2009
More: Borletti • Business • economy • Escada • Escada Tries To Escape Financial Woes • Fashion House • Fashion News • finance • Financial • Giacomo Santucci • Luxury • Market • Newsflash • Sven Ley • Wolfgang Ley • ZSL Partners|
|
Imran Amed's Signature9
The Business of Fashion editor introduces us to his signature style items
Diane Pernet's Signature9
Fashion blogger and film festival creator, Diane Pernet, shares nine of her favorite things
90 Seconds with Carine Roitfeld
In a Signature9 exclusive, we catch up with the Vogue Paris editor-in-chief
Iman Wants an Invitation to Your Home
Sharing Makeup With Strangers: If Everyone Jumped
Apple Launches New iTunes Version Complete With A Social Network
Brian Atwood Steps Into a Larger Market With B Brian Atwood
Bing Comes To Android, But Only If You Have Verizon
J.Crew to Offer Outlet Store Items Online
Troy Polamalu Gets a Hair Raising $1 Million to Protect His Locks
Fashion’s Night Out India: A Sneak Peak
What Are Treggings You Ask? H&M’s Newest Take on Leggings
