By  on October 16, 2008

TOKYO — Renown said Wednesday that it intends to sell the Aquascutum brand, confirming mounting speculation the label was on the block.

Speaking at a Tokyo press conference, Renown Inc. president Minoru Nakamura said the Japanese company’s board had finalized the asset sale as part of a wider restructuring plan, although “to whom to sell and at how much has not been decided.” WWD reported Oct. 7 that, according to industry sources, Aquascutum president and chief executive Kim Winser is preparing a management buyout of the company she runs. A spokesman for Winser had no comment Wednesday.

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