Mon, 02 Apr 2012 | BUSINESS SALE
Aquascutum, the luxury clothing shop for men and women, may soon have a new owner.
Interested parties are believed to include Hong Kong firm YGM Trading, which owns the rights to the Aquascutum brand in Asia, while several private equity firms are also thought to have made their interest known including the Carlyle Group’s Asian business.
Rothschild is said to be managing the sale process for the retailer, and was initially brought in last year to look over approaches to the business by Aquascutum boss, and owner of Jaeger, Harold Tillman.
Mr Tillman bought the heritage brand with former Jaeger chief executive Belinda Earl from Japanese firm Renown in September 2009. Ms Earl exited Aquascutum recently due to ill health, after serving in the post for over two years.
Aquascutum recorded a loss of £10 million on revenues of £28 million for the year ending February 2010 in its last posted accounts.
Founded in 1851, the firm designed the first waterproof material and raincoat for rainy weather in the UK. It also sells men’s and women’s clothing, handbags, hats, ties, scarves and golf clothing items, with its distinctive check pattern.
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