Escada Original

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Escada Original

Bankruptcy since early August, chronic difficulty for years, the German manufacturer of ready-to-wear has been bought by Mittal Megha, step-daughter of Lakshmi Mittal, boss. and principal shareholder of ArcelorMittal, the world's steel. Aged 33 years and mother of two young children, Megha is married to Aditya Mittal, chief financial officer. father, whom she met while studying at the American University Wharton. They were married in India, there are about ten years, while Megha began a career. realized that the investment bank was not for her. She preferred a more creative profession, "says one of his relatives. After resuming the study of architecture. and design, she tried for a year of investment opportunities in fashion. His role within the company is not yet fully determined. She sits on the board. administration, while Bruno Sälzer should remain CEO. The transaction includes the transfer to the family trust of all assets of Escada, including employees, human rights. brand, distribution network, with the exception of the U. S. subsidiary. In total, the Mittal family has promised to invest "several hundred million euros". The new. has boosted the Escada share of over 50% during the session. But the title is less than one euro, against more than 30 two years ago. The company has lost about 100 million euros. struggled to survive the death of Margaretha in 1992. A succession of managers and shareholders failed to redress the balance. Megha Mittal's arrival represents a. surprise worthy of a fairy tale for the company was thought doomed. But the stepdaughter of the strong man of steel will have to show exceptional qualities to the management. . .
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