LONDON — Aquascutum, which has been put up for sale by its parent Renown Inc., has pulled out of London Fashion Week, which runs from September 18 to 22.
Aquascutum said Thursday, “While Renown awaits a sale of Aquascutum, they are consolidating their investment in the business during this period, and will therefore not show this September.”
An Aquascutum spokesman in London declined further comment. A Renown spokesperson could not be reached at press time.
Renown put Aquascutum up for sale last year, and is in advanced talks with the British brand’s Chinese licensee YGM Trading Ltd.
YGM has signed a letter of intent, and the company is conducting due diligence in London.
In May, Renown rebuffed a management buyout offer from Aquascutum’s former chief executive officer Kim Winser, who then quit the company.
Last month, Crombie, the mid-market British coat and suit brand, said it was interested in purchasing Aquascutum’s UK and European businesses, although it is unclear whether Renown wants to sell the brand piecemeal.
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