Escada

Business

This Morning’s Fashion Biz News: J.Crew Almost Settled, Burberry and Richemont Leap Again, and Escada Gets Bar-ed

The financial markets in the US were closed yesterday, which in turn made things in Europe--as well as behind-the-scenes here--much more exciting. The most critical news: J.Crew is close to settling a lawsuit regarding its takeover. Some public shareholders felt that J.Crew's Mickey Drexler accepted an offer for the company that was too low--$2.86 billion--and they want to be compensated. Those shareholders will receive $10 million for settling, and J.Crew will entertain other potential offers until February 15. (Although Reuters is reporting that there haven't been any rival bids, which means the deal is likely to go through next month.) Over in Britain, the morning's big stories are Burberry and Net-a-Porter.

Business

Jonathan Saunders Designs for Escada

Last November, when Megha Mittal--daughter-in-law of billionaire Lakshmi Mittal--acquired bankrupt German fashion brand Escada for a reported 30 million euros, onlookers were curious as to what exactly she'd do with the struggling label. Back then, I speculated that Mrs. Mittal was an Escada customer, and that this would be the Wharton Business School graduate's baby. Looks like that has proven true, as Mittal has taken multiple steps to bring the firm out of the red, including new retail stores for Escada and Escada sport, as well as lower entry price points and more daywear. (Because not everyone can be bothered with sequined dresses.) In her latest effort, Mittal has brought on London-based designer Jonathan Saunders to create a capsule for Escada Sport. Saunders, who's best known for his colorful prints, fits well with the brand--or, more precisely, where the brand seems to want to go. The collection will be released for resort 2012.

Shopping

Racked Dealfeed: Nanette Lepore, Tibi, & Escada

Nanette Lepore Deal: Dresses are $145 (were $398), jackets and coats are $195—$275 (were $448—$698), skirts, pants and tops are $95 (were $298). Oonagh by Nanette Lepore cardigans are $95 (were $298), knit dresses are $95 (were $228—$298). When/Where: Tuesday, November 9 to Friday, November 12. Tues—Thurs 9am—7pm, Fri 9am—5pm. 225 West 35th St between Seventh and Eighth Aves, fourth floor (212-594-0012) Escada Deal: Up to 95% off sportswear, gowns, shoes and handbags When/Where: Sunday, November 7 through Tuesday, November 9. Sun—Mon 10am—7pm, Tues 10am—5pm. The Altman Building, 135 W. 18th St between Sixth and Seventh Aves (212-852-5446)

Business

Finding Your Ideal Creative Director Is Tough, So We Offer Some Suggestions

Finding a new creative director for a brand is a painstaking process. Not only do you want someone whose aesthetic lines up with the brand's image, but there's contracts, availability, and a ton of paperwork before a collection sets foot on the runway. In this process, sometimes bad decisions are made. Like Alessandra Falchinetti at Gucci or Marco Zanini at Halston, short lived, unprofitable directorships are plenty in the fashion industry. Not every decision puts a Giles at Ungaro, nor is every rumor about a Pugh at Mugler.