GERMANY. The Supervisory Board of German luxury fashion brand Escada has appointed Jean-Marc Loubier as new CEO as of 1 June, 2007.
In a press released issued on 30 May, the company said: “At its extraordinary meeting on 30 May, the Supervisory Board unanimously decided to replace the CEO of the Luxury Group.
“Given their differing views on the company’s future strategy and business policy the CEO of Escada AG, Frank Rheinboldt (40), and the Supervisory Board decided on a separation by mutual consent, effective as of May 31, 2007.”
The Supervisory Board said it “wished to express its gratitude and recognises the long-serving and successful commitment of Mr Rheinboldt to the Escada Group”.
Loubier (51) has been a member of Escada’s Supervisory Board and chairman of its Strategy Committee since November 2006. He has been a key executive of LVMH for 16 years. From 1990 to 2000 he was executive Vice President at Louis Vuitton, where he repositioned the brand, as well as the product portfolio and the international retail network.
From 2000 to early 2006 he was President and CEO of Celine, where he restructured and re-launched the company and the brand.
Hans-Jörg Rudloff, Chairman of the Supervisory Board of Escada AG said: “We are delighted to have enlisted an internationally recognised and highly-experienced executive from the luxury and fashion industry to head Escada, and one who is very familiar with the company and its strategic challenges. We are confident that under his management, Escada will develop into a leading luxury brand.”
Loubier said: “Escada is a wonderful brand and I am proud to join its team. Together we will define and implement a precise strategy based on the development of a strong brand identity, re-launch Escada ready-to-wear, create a leathergoods business, reorganise the retail network and focus on our core markets”.
About Escada
Escada AG is listed on the Frankfurt stock exchange. In fiscal year 2005/2006, the group with its portfolio of six brands (Escada, Escada Sport, apriori, BiBA, cavita und Laurèl) generated sales of €695 million in over 60 countries with 4,000 employees.
