LONDON — The Munich-based fashion brand Escada, a powerhouse of the Eighties and Nineties, has been sold to the private equity firm Regent, confirming reports in WWD earlier this week.
The Mittal family, which purchased Escada in 2009 after a bidding war, confirmed the news alongside Regent’s chairman Michael Reinstein. The terms of the deal were not disclosed.
Megha Mittal, Escada’s chairman, said it was a privilege to guide and evolve the brand over the past 10 years.
“I would like to thank all the company’s employees for the passion and dedication they have shown in reimagining Escada for today’s customer. I would also like to thank Iris [Epple-Righi, the chief executive officer] for her leadership. In Regent, we have found the right owner to continue the next chapter of the company.”
Under the Mittal family’s ownership, Escada sought to modernize its fashion direction, invested in upgrading its retail portfolio and expanded its social media and digital activities.
Last year the company celebrated its 40th anniversary with a show at the Armory during New York Fashion Week. This year it named Rita Ora as the face of the brand.
Mittal began looking for a buyer for Escada earlier this year, hiring the U.S. investment bank Lazard to
The Mittal family, which purchased Escada in 2009 after a bidding war, confirmed the news alongside Regent’s chairman Michael Reinstein. The terms of the deal were not disclosed.
Megha Mittal, Escada’s chairman, said it was a privilege to guide and evolve the brand over the past 10 years.
“I would like to thank all the company’s employees for the passion and dedication they have shown in reimagining Escada for today’s customer. I would also like to thank Iris [Epple-Righi, the chief executive officer] for her leadership. In Regent, we have found the right owner to continue the next chapter of the company.”
Under the Mittal family’s ownership, Escada sought to modernize its fashion direction, invested in upgrading its retail portfolio and expanded its social media and digital activities.
Last year the company celebrated its 40th anniversary with a show at the Armory during New York Fashion Week. This year it named Rita Ora as the face of the brand.
Mittal began looking for a buyer for Escada earlier this year, hiring the U.S. investment bank Lazard to