Bruno Sälzer
Encyclopedia
Dr Bruno Sälzer is the CEO of Escada
, the international luxury fashion group. He was born into a solid farming family. He has always been interested in fashion more than fertiliser, and has been quoted in saying, "I can't explain this. There was no one in my family like this. I have checked back several generations." He is the father of four sons.
Sälzer started out at Hugo Boss as one of the members of the Managing Board, but steadily worked his way up to CEO position. He was the first to introduce the womenswear line at Hugo Boss. He saw the company boost its income to €
154m in 2007. During his time with the company, he described his management style as old-fashioned, he favored a system where you learn how to think, how to combine things, how to set priorities. He was not a fan of MBAs. Following a dispute with the company's private equity company Permira
, Sälzer left Hugo Boss and took up the CEO position in Escada, replacing Jean-Marc Loubier
.
At Escada, Sälzer was employed to save the brand, which has steadily declined after the death of its co-founder Margaretha Ley. In 2008, he invested €
3m, only to lose it, as the brand filed for bankruptcy. Megha Mittal
, a member of an Indian steelmaking company, bought Escada and saved the company in 2009. Sälzer was retained as CEO.
Escada
Escada is an international luxury fashion group in women's designer clothing. The company has a presence in about 60 different countries. Its main sales markets are North America, western and eastern Europe and Asia. It filed bankruptcy in August 2009, and was acquired by Megha Mittal, in November...
, the international luxury fashion group. He was born into a solid farming family. He has always been interested in fashion more than fertiliser, and has been quoted in saying, "I can't explain this. There was no one in my family like this. I have checked back several generations." He is the father of four sons.
Career
Timeline:- 1986-1991: Director of International Sales Coordination, BeiersdorfBeiersdorfBeiersdorf AG is a multinational corporation based in Hamburg, Germany, manufacturing personal care products. Its brands include Elastoplast, Eucerin , Labello, and Nivea....
- 1991-1995: Managing Director of Hairdressing International, SchwarzkopfHenkelHenkel AG & Co. KGaA is an multinational company headquartered in Düsseldorf, Germany.The company operates in three business areas: Home Care , Personal Care ,...
- 1995-2008: CEO, Hugo BossHugo BossHugo Ferdinand Boss was the founder of clothing company Hugo Boss.-Early life:Boss was born in Metzingen, Germany. After completing his apprenticeship and one year of employment, he founded his own company in Metzingen in 1923.-Support of Nazism:Boss joined the Nazi Party in 1931, two years before...
- 2008-present: CEO, EscadaEscadaEscada is an international luxury fashion group in women's designer clothing. The company has a presence in about 60 different countries. Its main sales markets are North America, western and eastern Europe and Asia. It filed bankruptcy in August 2009, and was acquired by Megha Mittal, in November...
Sälzer started out at Hugo Boss as one of the members of the Managing Board, but steadily worked his way up to CEO position. He was the first to introduce the womenswear line at Hugo Boss. He saw the company boost its income to €
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
154m in 2007. During his time with the company, he described his management style as old-fashioned, he favored a system where you learn how to think, how to combine things, how to set priorities. He was not a fan of MBAs. Following a dispute with the company's private equity company Permira
Permira
Permira is a United Kingdom-based private equity firm with global reach. The firm advises funds with a total committed capital of approximately €20 billion....
, Sälzer left Hugo Boss and took up the CEO position in Escada, replacing Jean-Marc Loubier
Jean-Marc Loubier
Jean-Marc Loubier is chief executive officer of Escada, an international luxury fashion group, since June 2007. He succeeded Frank Rheinboldt. Jean-Marc Loubier worked at LVMH for 16 years, including 10 years as executive vice president of Louis Vuitton. From 2000-2006 he was CEO of Celine, a...
.
At Escada, Sälzer was employed to save the brand, which has steadily declined after the death of its co-founder Margaretha Ley. In 2008, he invested €
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
3m, only to lose it, as the brand filed for bankruptcy. Megha Mittal
Megha Mittal
Megha Mittal is the Chairman and Managing Director of the German fashion luxury brand Escada.She graduated from the Wharton School of Business in 1997, with a B.S. in Economics with concentration in Finance. She subsequently joined the investment bank Goldman Sachs as an analyst in the research...
, a member of an Indian steelmaking company, bought Escada and saved the company in 2009. Sälzer was retained as CEO.