It’s hard to believe that Escada, which has been in existence for over 30 years, filed for bankruptcy last August. Until August, the collection was designed by Eva Herzigova, and has been worn by countless celebs, including Katie Holmes and Daffy.
Now Italy’s Borletti Group (the group was recently in the running to buy Christian Lacroix and was considered to have the most serious bid until Hassan bin Ali al-Nuaimi stunned the fashion work with a $70 million bid), is working on a bid for the iconic German label. Borletti insists that he isn’t making a bid for Escada, but rather that the Borletti Group is in contact with one of the bidders who asked the group for support in preparing his bid. If the bid goes through, they would consider it “a small investment.”
