BERLIN — Escada chief executive officer Bruno Sälzer has acquired a 15 percent stake in Bench and is to become the fashion brand’s ceo and chairman.
In February, Sälzer made it known he would be leaving Escada when his contract expires on Nov. 30. He has been at the helm of the Munich fashion house since 2008. The search for his successor continues.
Prior to Escada, Sälzer spent 14 years at Hugo Boss, where he assumed the ceo post in 2002. At Bench, he takes over from cfo Paul Masters, who was serving as interim ceo.
Founded in Manchester in 1987, Bench was acquired in February by Munich-based Emeram Urbanics Holding Ltd. from private equity firm Hg Capital.
Bench generated sales of 100 million euros, or $132.8 million at average exchange, in 2013, plus additional licensing revenues of about 50 million euros, or $66.4 million.
The casual lifestyle brand is targeted at men and women ages 20 to 30 and is sold in 26 countries in Europe and North America. Its largest markets are Great Britain, Germany and Canada, the latter as a license.
Sälzer remarked that the brand’s target group “is of increasing importance for the fashion industry. What is important for me is that I am able to have a long-term entrepreneurial stake in Bench.”
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18