Published cases
ESCADA was founded in 1976 and was one of the leading luxury fashion houses in the 1980s. Deficits in manner statements and unremitting mismanagement marked its way from the beginning of the 1990s and finally led ESCADA to file for insolvency in 2009. In November 2009, Megha Mittal, daughter-in-law to steel magnate Laksmi Mittal, acquired the brand, signalling a new era for the house. This case discusses the (a) brand’s historical background (b) its pre-acquisition financial and management situation, and (c) various change strategies and restructuring processes guided by ESCADA’s management, particularly, its current CEO, Bruno Sälzer in order to return to profitability following its insolvency filing.
SOM, A. (2011). Escada: made of steel ? ESSEC Business School.