Bruno Sälzer
| Bruno Sälzer | |
|---|---|
| Born |
June 28, 1957 Bad Rappenau, Germany |
| Education | Doctorate in Logistics |
| Alma mater | University of Mannheim |
| Occupation | CEO, Escada |
Dr. Bruno Sälzer (born 28 June 1957) is the CEO of Escada, the international luxury fashion group.[1] 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.[2]
Career
Timeline:
- 1986-1991: Director of International Sales Coordination, Beiersdorf
- 1991-1995: Managing Director of Hairdressing International, Schwarzkopf
- 1995-2008: CEO, Hugo Boss
- 2008–present: CEO, Escada[1]
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.[1] 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.[2] 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.[1] The row with Permira reportedly centred on special dividends, however the departure was supposed to have been amicable. Upon leaving, he praised the work ethic and unique culture of the company. His departure from the company saw Hugo Boss’ stock fall by 9.2 percent in Frankfurt trading.[3]
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 €3 million from his Hugo Boss severance pay, 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,[1] and thanked for his “relentless efforts” so far at the firm.[3]
On 20 February 2014, according to Women's Wear Daily, Salzer will step down as CEO of Escada by December 2014.[4]
In July 2014, it was announced that Salzer would take up the role of CEO and chairman of the Bench fashion brand on 1 December, commenting, “Bench fashion is an expression of young people’s attitude towards life in the age of the internet and social media: individual, casual and with an eye for their own style. This exciting brand appeals to a target group which 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.”[5]
References
- 1 2 3 4 5 "Bruno Salzer". 13 January 2011. Retrieved 12 March 2011.
- 1 2 Hume, Marion (18 March 2008). "Big Boss". Time Magazine. Retrieved 12 March 2011.
- 1 2 "Bruno Salzer". EuropeanCEO.com. 13 January 2013. Retrieved 20 December 2013.
- ↑ Drier, Melissa (20 February 2014). "Bruno Sälzer to Step Down at Escada". WWD. Retrieved 20 February 2014.
- ↑ "Escada CEO moves to Bench as it announces 'renewed design ethos'". The Drum. 1 July 2014. Retrieved 25 November 2014.