Friday, 20 April 2012

Goodbye to Aquascutum...

One of the saddest stories to come out in the press this week (from a fashion point a view)was the shocking news that famous British heritage brand Aquascutum was going into now administration. I remember growing up with brand, and one of my dear friends Lucy is a massive fan of their clothing ( mainly the beautiful trench coats!) and it is a real same to see British brand go under.
A spokesperson for FRP Advisory said they 'have conducted a detailed review of the company’s financial position' that has resulted in the 'difficult decision' to close Aquascutum's manufacturing plant in Corby with the loss of 115 jobs. Meanwhile, the brand's HQ and high street stores are operating as usual.... for now. there were signs last week and the beginning of this week that things weren't good for the 160-year-old brand. Starting with Aquascutum closing its Regent Street store after 110 years at the same site. Then British Fashion Council Chairman Harold Tillman sold a majority stake in sister company Jaeger on Monday, followed then by Aquascutum's press day, being cancelled due to ‘unforeseen circumstances'. Was it that they just couldn't compete with the likes of Burberry? Who are pushing ahead with sales and immersing themselves in making the brand current as well as keeping its heritage roots. Which seems to be working in terms of sales. Just what went wrong?,can someone buy the brand in time?... and which British brand is next on the chopping board?