Aquascutum Finds a Buyer
After recently filing for bankruptcy, British heritage brand Aquascutum has been bailed out—by Chinese firm YGM Trading.
YGM, which owns Guy Laroche and distributes Charles Jourdan and J. Lindeberg throughout Asia, plans to buy the struggling British company and already has licensing deals in place with Ittierre SpA to produce Aquascutum’s men’s and women’s ready-to-wear and accessories, Women’s Wear Daily reports. (Ittierre is also the manufacturer behind several other high-end fashion lines, including Tommy Hilfiger, Pierre Balmain, Costume National, and more).
RELATED ARTICLES |
| Could Li & Fung Bail Out Aquascutum? » |
“It is YGM Trading’s long-term strategy to continue Aquascutum’s successful position as a prestigious, classic European label with a flair of high fashion,” said YGM in a statement to WWD.
The deal is expected to be completed next week.
