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Mittal family to buy insolvent German fashion firm Escada

Source: NewKerala
Frankfurt : Germany | about 1 month ago  
Views: 9
Escada was one of the top names in women's fashion, but a slump in sales forced it to file for insolvency in August. At present it employs 2,200 people around the world, about a quarter of them at its headquarters in Aschheim near Munich. Insiders said Megha Mittal, daughter-in-law of the steel magnate,...
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  • News Source: Channel NewsAsia | 20 days ago
    Megha Mittal stepped into the fashion spotlight Friday with the purchase of troubled high-end German brand Escada, backed by the clout of in-laws who own the global steel giant ArcelorMittal. Megha and husband Aditya Mittal, financial director of the...
  • News Source: The Financial Express | 20 days ago
    Megha Mittal, daughter-in-law of India-born billionaire Lakshmi Mittal, will buy insolvent Escada, an iconic European luxury fashion house, for an undisclosed amount. Megha Mittal confirmed that her bid for Escada has been accepted. "Our first...
  • News Source: The Economic Times | 20 days ago
    The distressed German clothing group Escada has been sold to Megha Mittal, daughter-in-law of Indian steel magnate Lakshmi Mittal, Escada said without providing financial details. An insolvency administrator signed late on Thursday a contract with...
  • News Source: Daily News & Analysis | 21 days ago
    AG signed a sale and transfer agreement with one of the Mittal Family Trusts," the company said in a statement late on Thursday after the preliminary creditors' committee approved the deal. "The Board of Management and the new investor have agreed to...
  • News Source: NewKerala | 21 days ago
    Escada was one of the top names in women's fashion, but a slump in sales forced it to file for insolvency in August. At present it employs 2,200 people around the world, about a quarter of them at its headquarters in Aschheim near Munich. Insiders...
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