Escada
German company of women’s clothing. It was established in 1976 by Margaretha and Wolfgang Ley and named after a famous thoroughbred. The headquarters is in Munich. During the 1980s, new offices were opened in London, Milan, Canada, Japan, and France.
The firm celebrates its 20th anniversary with a spectacular fashion show presented around the world and with the inauguration of an internet web-site.
In collaboration with the Diamond Trading Company, which is part of the De Beers Group, and with the Pluczenik Group, the firm creates a diamond collection inspired in shape by the Escada heart. Also on sale are the Escada Accessories line of bags and shoes and a new fragrance, Sentiment.
The owner of Escada, Wolfgang Ley, receives the Bambi, the most important German media award, previously given to Giorgio Armani and Jill Sander for the fashion sector.
Escada Lingerie goes on sale, rounding out the accessory lines. In New York, a single-brand boutique opens on Fifth Avenue.
There is a reduction in turnover of 8.7% to €772.9 million, and sales fall 3.7%, but profits grow.
The firm negotiates the acquisition of production plants in Slovenia as part of an ongoing strategy to become more competitive and reduce costs. With the closing at the end of 2002 of the last German production plant, the entire production of jackets, trousers, and shirts has been moved abroad.
After opening a boutique in the Rappongi Hills neighborhood of Tokyo, Escada adds to its number of stores with an opening in Paris in July 2003 and one in Düsseldorf in August. In autumn, it is the turn of Moscow, St. Petersburg, Kuwait City, Glasgow, and Vancouver.