Harold Tillman is poised to grow Aquascutum via the international wholesale route, new product categories and a transactional website.
Jaeger owner Tillman, along with Jaeger chief executive Belinda Earl - who together bought Aquascutum from Japanese owner Renown today - both spoke to Drapers about their early plans for the luxury brand.
Tillman and Earl said that there was considerable opportunity to grow both the wholesale and retail arms at Aquascutum and to expand into new markets in Europe, the Middle East, North America and Russia.
Earl said: “We will also focus on growing the business via ecommerce. Aquascutum does not currently have a transactional website so we will launch one as a matter of priority.”
Tillman expressed confidence in Aquascutum’s market position. He said: “The company has had considerable investment and is an outstanding brand which punches above its weight. We plan for it to maintain a luxury position. There’s still growth in the luxury market.”
Earl said that pricing would be assessed over the next few weeks and added: “There’s scope to broaden the target market.”
She said there was potential to grow both the menswear and womenswear collections but added that accessories and giftware were the categories with the greatest growth potential.
The new owners said that costs will be cut by sharing back office functions with Jaeger. Earl said: “We will have increased buying power and economies of scale.”
Tillman and Earl added that they would begin implementing any necessary changes to manufacturing and staffing within weeks. They could not confirm which members of the Aquascutum team would stay with the new company but said they are committed to keeping Aquascutum’s UK factory in Corby open.