Two of Britain’s most iconic luxury fashion labels are set to unite in a deal signed between the British entrepreneur Harold Tillman and Japanese textile conglomerate Renown. Family owned since 1851, Renown purchased Aquascutum in 1990 and developed the brand successfully for the Asian market (still it’s largest market) particularly in Japan where it’s image remains strong. Despite various attempts to strengthen the brands historical domestic market (the UK) and enter the US luxury market, the brand’s fate was ultimately sealed by years of consecutive losses by the parent company Renown. Aquascutum was put up for sale in 2008, achieving interest from various companies, most notably YGM and a management buyout, which were ultimately rejected.

Details of the deal between Mr Tillman and Renown remain private, however the estimated combined sales are expected to exceed £300m ($497m); under the deal, YGM trading, whose brands include Guy Laroche, Michel Rene and Charles Jourdan, acquired the rights for Aquascutum’s Asia business.

Harold Tillman on speaking about the deal, said: “We are pleased to be able to return this global luxury heritage fashion brand to British ownership. The Aquascutum brand has a strong positioning in the international arena and has seen significant investment in recent years.

“Belinda and I have worked together for the last five years and our strong track record, experience and complimentary skills, will enable us to continue the development of the Aquascutum brand worldwide.”

On a personal note, whether you can afford or even like Aquascutum, I would recommend you visit their flagship regent’s street store, friendly attentive staff and a great layout.

Photo by Photo Agency / Zimbio