ESCADA pursues global restructuring with major renovations of its stores
Ailing German luxury brand ESCADA, which was saved from bankruptcy from Indian group Mittal, has announced major plans for restructuring. Over EUR 12 million will be spent on renovating the majority of the Escada stores worlwide. Sales at ESCADA have been improving, particularly in the key markets. For instance, in Spain, Escada’s second most important market have registered a 7% increase in the first quarter of this year. The company’s CEO Mr Bruno Salzer believes business will stabilize this year and will see a strong recovery in the coming years, especially for the Escada Sport line.