LONDON — Ittierre SpA, which has a six-year licensing deal to produce Aquascutum’s men’s and women’s ready to wear and accessories for continental Europe, has no plans to buy the troubled brand.
An Ittierre spokesman denied reports last week it was in talks to purchase the U.K. arm of Aquascutum, which earlier this month filed for the British equivalent of Chapter 11, and is now in the hands of administrators.
However, the spokesman told WWD that Ittierre wants a buyer to be found because it has the long-term licensing contract with the company that remains valid. The six-year Ittierre deal is for the continental European, Russian and Middle Eastern markets. The first collections bowed for fall 2012.
A spokeswoman for FRP Advisory LLP, the administrators handling the Aquascutum sale, said they are hoping to seal a deal in the coming week. She confirmed they would be selling the brand, a manufacturing plant in Corby, England, which shut down earlier this month, and related assets. Any potential owner, however, will only control a tiny part of the Aquascutum business.
In 2009, the investor and current chairman of the British Fashion Council Harold Tillman and his business partner, retailer Belinda Earl bought the small, loss-making slice of Aquascutum from Japan’s Renown Inc. for an undisclosed price.
As part of the deal, Tillman and Earl sold Aquascutum’s intellectual property rights, including the Aquascutum trademark for China and the rest of Asia, to the Hong Kong-based YGM Mart Ltd. YGM had been the brand’s licensee in China and currently owns the brand rights in 42 territories.
The lion’s share of Aquascutum’s sales and profits come from the Far East. As reported, YGM has already declared its interest in buying the U.K. division and the related rights outside the Asian territories.
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast