Background Information about ESCADA
Situation after the Insolvency:
After the Escada stock corporation filed for insolvency in summer 2009, the insolvency administrator Gerloff arranged the take-over of the operational parts of the stock corporation in autumn. For those parts Megha Mittal, or rather the trust of the Mittal-family, that operates in the steel industry, invested about 60 million Euros. The Escada stock corporation, that still owes numerous creditors money, was renamed into “EDOB Abwicklungs AG” and is still administered by Gerloff. The operational business parts became the Escada plc. A plc, i.e. private limited liability company, is a company that counts as a juridical person and can therefore purchase property, make contracts, but also take someone to court or be taken to court itself. The limited liability means, that the associates, that invested the joint stock, are not liable for the plc´s obligations. The joint stock of the Escada plc is 5 million Euros. The stockholders´ meeting of the former Escada stock corporation is replaced by the general meeting, that only associates can attend.Company Management:
At the top of the Escada plc is the management. The operative part of the management consists of Dr. Bruno Sälzer, Michael Börnicke and Dr. Werner Hans Lackas, that have all been in the board of management of the former Escada stock corporation, too. The two new management members Megha Mittal and Harak Chand Banthia are authorised to solely represent the company. Megha Mittal is seen as a committed person, that tries to safeguard employment and make a successful restructuring process possible. In spite of many new ideas, that were expressed by Megha Mittal, she leaves the operational management to Bruno Sälzer and his colleagues.Economic Details:
Because of the changing from the Escada stock corporation to the Escada plc there are is no information on the current sales (as at April 2010). But however in the last years half of the sales was made through the brand Escada, about one third through Escada Sport and about 10 % through accessories. In the headquarter in Aschheim near Munich there are currently 400 employees located, but all over the world there are many more.Locations:
The main brand Escada is sold in own shops , in outlet stores as well as other locales (concession areas, shop-in-shops etc) and through multi-label customers such as department stores. There are about 240 Escada stores worldwide, mainly in Europe, Asia and North America and a few in Australia, Africa and South America.Contacts:
If you like to contact the company and management and tell them what you think, here you have the contact. You can either send them a letter, a fax, an e-mail or make a phone call. Please note these contacts are for educated protests only.ESCADA GMBH Einsteinring 14-18 85609 Aschheim Deutschland Tel: + 49 (0) 89-9944-0 Fax: + 49 (0) 89-9944-1111 Mail: info@de.escada.com
Corporate Governance:
Bruno Sälzer, management: Bruno.Saelzer@de.escada.comWerner Lackas, management: Werner.Lackas@de.escada.com
Megha Mittal, management: Megha.Mittal@de.escada.com
Michael Börnicke, financial director: Michael.Boernicke@de.escada.com
Reinhard Pöllath, supervisory board chairman: RP@pplaw.com
Lars Schmidt (authorised signatory) Lars.Schmidt@de.escada.com
Rainer Fleck (authorised signatory) Rainer.Fleck@de.escada.com
Design and Retail:
Miriam Holleczek, Head of Retail: Miriam.Holleczek@de.escada.comHans-Peter Gabrielli, Head of Wholesale: Hans-Peter.Gabrielli@de.escada.com
Daniel Wingate, Director Brand Management Escada: Daniel.Wingate@de.escada.com
Ilka Bennewitz, Director Brand Management Escada Sport: Ilka.Bennewitz@de.escada.com
Jeffery Kong, Design Director Escada Sport: Jeffery.Kong@de.escada.com
Public Relations:
Natalie Groeger, Manager Fashion Shows & Celebrity Dressing Natalie.Groeger@de.escada.comAlexandra Valtin, Celebrity Dressing: Alexandra.Valtin@de.escada.com
Christina Pollack, International PR Coordination: Christina.Pollack@de.escada.com
Carrie Crecca, Public Relations USA: Carrie.Crecca@escadaota.com
Elsner Kommunikation, Corporate Communications: office@elsner-kommunikation.de