The company said that it is re-evaluating -- and could be axing -- its couture business. After presenting two haute couture collections for the house, Mispelaere put on his first ready-to-wear show last spring, but his collections have received less than glowing reviews. The house's read-to-wear sales hover around $45 million a year, without about half of the turnover in the U.S. market.

Last July, Escada and Secon of Holland teamed up to form a joint venture to acquire Louis Feraud, founded in 1950. Mispelaere, a Prada and Valentino vet, was already part of the team, and clashes between the designer and his bosses have been rumored for some time. His spring 2002 runway show was cancelled last September as a result of the ownership changes.

Louis Feraud expects to name Mispelaere's replacement by late next month, in time to prepare a spring 2003 collection. In other staffing news, the company has named a new CEO: Francois Xavier de Monts, former director of worldwide distribution at Yves Saint Laurent Rive Gauche.