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Aquascutum owner in sale talks with Asian licensee

Aquascutum owner Renown is reported to be in talks with its Chinese licensee about selling the British heritage brand.

According to reports in the weekend newspapers, Renown is in talks with Hong-Kong based YGM Trading about a sale of Aquscutum, which is being handled by bank Daiwa Securities.

Japanese manufacturer Renown, which bought Aquascutum 19 years ago, is thought to be experiencing difficult trading and is keen to raise cash.

YGM Trading also owns Guy Laroche, Michel Rene and Charles Jourdan.

On Friday, Aquascutum chief executive Kim Winser left the business after a failed attempt at a management buyout.

Newspapers have linked her as a possible successor to Versace chief executive Giancarlo Di Risio, who is expected to resign from the luxury Italian house within days. She was also tenuously linked as a successor to Marks & Spencer chairman Sir Stuart Rose by The Sunday Times and The Sunday Telegraph. Winser spent 20 years at M&S, rising to the role of head of womenswear.

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