After falling into administration last month, it didn’t seem like things would turn around for British label Aquascutum. Reports trickle in however, that Hong Kong-based company YGM Trading Co. Ltd is already in talks with FRP Advisory—Aquascutum administrator—to buy the rest of the label’s worldwide rights. This move by YGM will potentially expand its ownership of the brand, after buying all rights to the Aquascutum brand in 42 Asian countries back in 2009.
While this is an opportunity for YGM to expand its ownership of the brand, this could also be a sad day for the British-founded brand. Should this deal push through, the Aquascutum label will still stand but will no longer be under British ownership. In this terribly volatile industry, perhaps all of the fashion world should simply rejoice in the fact that the label will stay for it would be such a terrible waste to let a more than 100-year-old brand collapse into oblivion.
According to reports, this hopeful and optimistic news will see its end soon, with YGM reportedly eager to close the deal on May 9.