Luxury Women'S Brand Escada Cuts 10% Degrees

Escada, a luxury brand in Germany, has recently been beset with problems and plans to reduce its competitiveness in the luxury sector by laying off 200 people.

At present, the women's clothing brand has nearly 2000 employees around the world, most of whom are in Escada's headquarters in ashheim (near Munich).

At its height, Escada was one of the most famous high-end women's clothing brands in the world, but the company declined and filed for bankruptcy protection in 2009 years. After that, Mittal Megha Mittal, the founder of India iron and steel giant Mittal, bought the troubled company, and Megha Mittal currently holds the position of chairman and CEO.

It has not been published in detail for several years.

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According to Deutsche Presse news agency, the company's interim CEO J o RG Wahlers said on Thursday that the restructuring measures taken by Escada failed to achieve the desired results.

In early August, Escada CEO's Glenn McMahon left office in 7 months after taking office, and the company's COO J o RG Wahlers temporarily took over the post.

At present, Escada is committed to development.

To adapt to the current global consumer new shopping mode.

According to the German newspaper Die Welt, the performance of Escada in Russia and China has declined sharply in the past few months.