BERLIN — Escada’s search for a buyer is nearing the final phase, with unbinding offers from six interested parties now on the table and binding offers from these and possibly a seventh to be submitted next week. A signed agreement is expected in the first week of November, a source close to the proceedings said.
Those bidding, the source said, involve more family groups than the typical private equity and investment firms, though some of the latter are in the running. He declined to be more specific.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"