Sven Ley, the son of Escada founder Wolfgang Ley, has teamed up with the former head of Gucci, Giacomo Santucci, and Italian investment group Borletti to mount a rescue bid for the German luxury fashion house.
The administrator for Christian Lacroix hopes owners Falic Group can reach an agreement with Italian businessman Maurizio Borletti on a rescue plan for the French fashion house by the end of the month.
Shoe-mania has well and truly invaded the Boulevard Haussmann in Paris. Printemps has transformed its store windows into a gallery of shoes that have almost become items of jewellery rather than clothing.
The judicial administrator of failed French fashion house Christian Lacroix said a bid by Italian group Borletti, associated with the Rinascente department store group and the designer himself, was "serious".