Well i am a student as ESCP and i can definitely say that you cannot term it as a school reserved for "Rich kids" that is a very gross and misappropriate statement.
Granted its fees are higher than the german schools, but it is pretty low compared to B schools in US and in the UK.
That is one reason ESCP attracted me in the first place, 1) Affordable tuition fees and 2) It offered great merit scholarships to deserving students.
Secondly, ESCP has a relaly good image in Europe, ofcourse it is the strongest in France but it has considerable pull both in UK and in germany. It having campuses there helps in this. As for how is it perceived by the HR, well we are having a corporate recruitment event at Germany next month and there are companies such as P&G, coke, Bayer, Shell, Google, Mckinsey, EY, Roland Berger and a ton others coming to recruit students from the campus. Well i am pretty sure they would not be showing up if they did not perceive a certain level of quality associated with ESCP students.
Ofcourse ESCP's satellite campus in Londin, Berlin etc wont have much recognition compared to the local big shot colleges, but that is something that is common sense. Those schools have been around for decades and hence have strong relations with local companies. But ESCP does give you a fighting chance to find a job in 5 different countries, so that is something i really appreciate.
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Hope the answer helped.