Escada went under in August, but insiders say approximately ten to twenty very wealthy parties are interested in reviving the line. A source says “fashion companies, financial investors, and wealthy families from all over the world have handed in non-binding offers to Escada’s insolvency administrator.” Those making the most promising offers will get to study Escada’s books before submitting official proposals. Escada hopes to have a new owner by November. Fellow bankrupt labels Christian Lacroix and Yohji Yamamoto have recently come into new money. If three is a trend and Escada is next, that means that it’s okay if fashion companies go under in this recession. Because there are still many rich people in the world, and several are evidently lining up to bail labels out. Now can one of them go help Veronique Branquinho?
New Chapter [Vogue UK]