FRANKFURT (Reuters) - German luxury fashion brand Escada plans to expand in China, India and Japan as well as unveil new collections as the formerly bankrupt firm aims to get back into profit.
“Maybe we can make a profit this year, if not then 2011,” new owner Megha Mittal told Frankfurter Allgemeine Sonntagszeitung.
“We are thinking about new products, cosmetics for example. A relaunch of children’s fashion is possible and I furthermore dream of a men’s line,” said the 33 year-old daughter-in-law of Indian billionaire and steel magnate Lakshmi Mittal.
Chief Executive Bruno Saelzer has extensive experience with men’s fashion, having served for years as CEO of Hugo Boss .
Mittal added she didn’t plan to acquire any more fashion brands after spending the past two years examining 25 European companies including Ferre in Italy.
Reporting by Christiaan Hetzner
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