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Aquascutum sold to Asian brand owner YGM Trading

Aquascutum has been sold to its Asian brand owner YGM Trading.

Hong-Kong based YGM Trading, which owns the Aquascutum brand in 42 countries across Asia, has taken control of the brand and assets including Aquascutum’s UK stores, concessions and head office operations. It will keep over 100 jobs.

YGM emerged as the frontrunner for the business after entering into an exclusivity agreement with administrator FRP Advisory on May 2.

Discussions are also taking place in relation to the concessions operated in Spain and Canada. Negotiations to secure a separate buyer for Aquascutum’s Corby factory continue. A sale is expected in the next two weeks.

James Eden, boss of menswear business Cooper & Stollbrand, which emerged as a bidder for Aquascutum and its Corby plant days after the British heritage business’ collapse, told Drapers last week he was “extremely disappointed” and “devastated” at being put out of the bidding race by YGM’s exclusivity.

Eden expressed concern that YGM would move Aquascutum production out of the UK but said he would still bid for the Corby plant. This will depend, though on YGM’s commitment to UK manufacturing, he said.

Andrew Chan, executive director and general manager, Aquascutum International and YGM Marketing, told Drapers he would “look to retain the business in the UK”.

 

 

Readers' comments (3)

  • Why do you keep giving column inches to James Eden when this is his only motive in his continued "interest" in Aquascutum? He never had the money or ability to run the brand and doesn't have the motive to run the factory. He has a dump in Manchester that makes a load of rubbish, so why would he take on another unit (perhaps only to learn how to do it properly, to strip it, then shut it down!!!). Unfortunately, the "made in England" label has become an opportunity for a few culprits to churn out inferior quality at inflated prices and cooper stollbrand have been the main exponents of this for many years. Mike Stoll wouldnt recognise a good quality jacket if he was chain stitched to its lapel! Very successful PR exercise James, let your dad go home, and let the men get on with the job.

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  • I think the person who made the comments above is jealous of what he cannot do. Well done James and keep up the good work. I was in manufacturing in Manchester which still does produce good products but it is shame that the UK government cannot spell,pronounce or understand what is manufacturing that is why we are in the service sector. Another brand goes out of the country which is a true shame. I also feel that his comment about Mike Stoll are both insulting and unfounded. At least they are still doing it where I feel the person making the comments is perhaps not!!

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  • Well said Kate, let's support uk manufacturers.

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