The luxury fashion house, ESCADA, today announces that its shareholder, the Mittal Family, has sold the business to global Private Equity firm Regent.
Headquartered in Munich, Escada was purchased by the Mittal Family in December 2009. Over the past decade, Escada has modernised its fashion direction for a more contemporary customer, invested in upgrading its retail portfolio and expanded its social media and digital activities. Last year Escada celebrated its 40th anniversary with a show at the prestigious Armory at New York Fashion Week. This year it announced Rita Ora as the face of the brand.
Megha Mittal, Chairman, commented: “It has been a privilege to chair and evolve Escada over the past ten years. I would like to thank all the company’s employees for the passion and dedication they have shown in reimagining Escada for today’s customer. I would also like to thank Iris for her leadership. In Regent, we have found the right owner to continue the next chapter of the company.”
Iris Epple-Righi, ESCADA CEO, said: “It has been a pleasure to work with Megha, who has been thoroughly committed to the brand’s evolution. I am proud of the milestones we have achieved, and we now look forward to collaborating with Regent and gaining from their vast operational knowledge in running brands and businesses.”
Michael Reinstein, Regent Chairman, said “Escada has been one of the leading international luxury brands since it was first launched by Margaretha Ley in 1978. We are honoured to build on the hard work of Megha Mittal and the very talented Escada management team led by Iris Epple-Righi to help take the business to new heights.”
Founded in 1978, ESCADA is a womenswear fashion brand with two product lines, ESCADA and ESCADA SPORT. The brand produces daywear, workwear, eveningwear and accessories. With a strong heritage in creativity, craftsmanship and female empowerment, the company has a legacy of dressing some of the world’s most iconic women. Recent collections build on the bold and colourful heritage of Escada, whilst injecting a modern, relevant edge.
Regent is a global private equity firm focused on acquiring businesses and deploying its strategic and operational expertise to fuel growth and innovation. Since its inception, Regent has successfully acquired businesses from leading Fortune 500 and large-cap companies around the globe. Their portfolio includes companies in retail, media and technology.
Selected investments include Mavic, DiamondBack, Redline, La Senza, Brands4Friends, Plainville Farms, Sassoon, Sunset Magazine, Lillian Vernon, HistoryNet and Sightline- a media portfolio comprised of 18 newspapers and magazines. Regent is based in Beverly Hills, California.
For more information, please visit www.regentlp.com