Escada, the luxury womenswear brand from Germany, has been bought by global private equity firm Regent.
This was confirmed by Mittal family recently, which had acquired the brand 10 years back. However, the amount for which the brand was sold remains undisclosed.
Speaking on the same, Megha Mittal, Chairman, Escada, said “It has been a privilege to chair and evolve Escada over the past 10 years.”
Thanking the employees, she added “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 for her leadership. In Regent, we have found the right owner to continue the next chapter of the company.”
Iris Epple-Righi, who works as the CEO of Escada, said that it was a pleasure to have worked closely with Megha.
Chairman of Regent, Michael Reinstein, shared same thoughts and said “We are honoured to build on the hard work of Megha and the very talented Escada management team led by Iris to help take the business to new heights.”
Escada, which celebrated its 40th anniversary last year, lately expanded its social media and digital activities besides upgrading its retail portfolio.
