ESCADA BECOMES A PART OF MITTAL’S FAMILY BUSINESS
November 1st, 2009
BY RAGHAVENDRA VERMA
ESCADA, the bankrupt German luxury fashion brand, is ready to make a new beginning after being bought by Indian steel tycoon Lakshmi Mittal's daughter-in-law Megha Mittal for an undisclosed amount last week. Its future now rests in the hands of a 33-year old Indian lady who has no track record in fashion but possess a strong financial backing and a lot of enthusiasm.
"Escada is a brand with fantastic potential", she said in a statement after winning the auction in Munich, "our first priority is to ensure that the great ...
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