Escada Is On The Verge Of Bankruptcy After A Crisis Hit.
At present, the famous German women's clothing brand Escada has been hit hard by the economic crisis. In 2008, it lost 70 million euros, facing the edge of bankruptcy, and badly needed new capital injection.
As a top brand of clothing, the global sales of Escada have been sluggish since the financial crisis, and the total sales volume dropped by 15%. Not only the most important US sales decline, but Asian customers' desire to buy. Group 88% sales depend on the international market outside Germany.
At present, Escada has 4000 employees worldwide. The Escada crisis showed signs in the last fiscal year, when 27 million euros were lost.
In 2008, the group hired Bruno Slzer, President of Hugo Boss, as the president of the group, hoping that it could help to change the world. In 2008, the value of Escada shares fell by 80%.
Editor in chief: Xu Qiyun
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