The German fashion house may have had to file for insolvency last year, but Escada‘s new owners the Mittal Family Trust are planning for a speedy recovering this year by expanding overseas into China, India and Japan as well as launching menswear and kidswear to turn a profit this year or in 2011. “Maybe we can make a profit this year, if not then 2011,” new owner Megha Mittal to German national newspaper Frankfurter Allgemeine Zeitung. “We are thinking about new products, cosmetics for example. A relaunch of children’s fashion is possible and I furthermore dream of a men’s line.” [Reuters, Drapers]