Escada Shuts Bond Street Store

Escada has closed two London franchise stores - one in Bond Street and the other its Escada Sport store in St John´s Wood. The brand is also closing its Escada Sport concession from Harvey Nichols in Knightsbridge.

Bond Street and St John´s Wood were run as franchises by the Ziff family´s Robina International before closing two weeks ago. Director Robina Ziff said they had been hit by a fall in tourists: "It has been difficult for the past two years. Customers felt collections had not moved on and price points were too high."

Escada stated the Bond Street store "had not moved forward along the high levels of corporate identity standards of the Escada group." However, Ziff said she had spent GBP 1m on a new storefit some 18 months ago.

Escada UK director Samantha Cradock was considering alternative sites for a London flagship, possibly in Old Bond Street.

Escada will continue to be sold through its own shop in Sloane Street, its concession in Harrods and via London independents.

Wholesale prices for spring 04 were reduced by 15 per cent and like-for-like sales for the new collection were up 11 per cent on spring 03.