Britain's troubled brand is now in hands of Hong Kong

Aquascutum is famous fashion brand of Britain and it is now in trouble and Britain’s troubled fashion brand is now in hands of Hong Kong. Aquascutum is respected fashion brand of Britain and it is worn by Winston Churchill and Margaret Thatcher but Britain’s troubled fashion brand is now in hands of Hong Kong as it is sold to Hong Kong’s YGM Trading Ltd. for 15 million pounds. This report was given by the company of Hong Kong on Thursday.

YGM has already own the Asian licenses to Aquascutum and Chairman Peter Chan is of the view that there is potential for future development of the unprofitable 161 years old fashion brand and this statement was posted on the stock exchange website of Hong Kong as Aquascutum was famous Fashion 2012 brand of Britain and it was very old too but it got in to troubles and Britain’s troubled fashion brand is now in hands of Hong Kong. 

The deal between them includes existing stocks of Aquascutum, trademarks, intellectual property rights and some of its retail stores and concession business. Aquascutum became bankrupt in April and it was put in to liquidation and its owners tried their best to save their fashion brand but they failed and this was all due to stagnation of their home markets. Aquascutum was founded by tailor John Emary in 1851 and it initially produced raincoats.

Emery gave it name from Latin words aqua means water and scutum means shield. The outfits of company were given to the soldiers of Crimean war and World War 1. It introduced trench coats but it is still disputed with Burberry. This company claimed Sophia Loren, Greta Garbo and Cary Grant in the list of its customers. In September 2009, YGM bought all rights to Aquascutum brand in 42 Asian territories including China, Japan, South Korea and India.