DELAYED LAUNCH: Reid & Taylor’s upscale men’s wear collection will not be introduced this fall as planned. Reid & Taylor, a fabric mill in the Scottish Highlands that traces its roots to 1837, had planned to introduce a full-scale luxury line that would be marketed first in Europe and then to other countries including the U.S. It was shown at the HMX Group offices during market week earlier this year and the plan was to also open stores for the brand in London and other European cities this year. But those plans have now been derailed.
Ashley Potter, brand manager for the company, responded to market reports Wednesday saying: “We have decided to delay the launch of the line that we had presented from our New York showroom.” He did not provide a reason and said a new launch date has not been determined.
The design of the Reid & Taylor men’s line was spearheaded by Joseph Abboud, president and chief creative officer of HMX. HMX is majority owned by S. Kumars Nationwide Ltd., a Mumbai-based textiles firm that also owns Reid & Taylor. SKNL had planned an initial public offering for Reid & Taylor last year. Those plans, originally made in 2010, remain delayed due to market conditions in India.
Reid & Taylor has a $300 million business in India in moderately priced suits and operates more than 300 stores there.