Escada, a premium luxury company, had always been a name synonymous with the red carpet and royalty, luxury for the privileged and the elite. However, by 2009, after the death of its founder Margaretha Ley, the company had seen its near demise, owing to the changes in the management, various fashion faux pas, and rapid expansion. When the company filed for bankruptcy, Megha Mittal bought the German company. Since then, Megha Mittal and CEO Bruno Sälzer has implemented turnaround strategies to reposition the brand as a lifestyle brand. At the same time, the management of the company has also seen a stir, with the top executives changing every year. The industry is still speculating about the results of the company’s changing tactics, and is wondering how the company will tackle its problems, especially after the exit of Bruno Sälzer in 2014.
SOM, A. (2016). Escada: A Phoenix in the Rising. ESSEC Business School.