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Staff cutbacks at Aquascutum

Luxury brand Aquascutum has made redundancies as it revamps its senior management team.

The brand is believed to have made up to 12 people redundant across departments including sales and design.

Michael Whitby-Grubb, international menswear wholesale manager and Susan Augustas, UK concession area manager, are understood to be among those affected.

A spokesman for the brand said: “We have sharpened our team structure to ensure it reflects our future needs.”

Aquascutum boss Kim Winser is reportedly preparing to lead a management buyout of the business. It is unclear whether the restructuring is linked to a sale of the business.
Aquascutum operates more than 40 wholesale accounts around the world and wholesale sales account for 20% of its turnover, but there are plans to increase this to 50% in the next five years.

Japanese firm Renown bought Aquascutum in 1990 for about 20 billion yen (£113.2 million). In 2006, Renown drafted in Winser to help turnaround the business.

Aquascutum is sold through its flagship store on London’s Regent Street and by stockists including Bergdorf Goodman in New York and London’s Harvey Nichols.

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