Aquascutum collapses into administration (FT)
"Aquascutum has collapsed into administration, putting about 250 jobs at risk and threatening the possible demise of a classic British clothing brand. FRP Advisory has been appointed administrator to the 160-year-old company, owned by fashion entrepreneur Harold Tillman."
TA Associates fashions 30 per cent deal for Zadig & Voltaire (AltAssets)
"The US-based firm’s purchase would value the company at about €380m according to sources which spoke to France’s Le Figaro newspaper. TA, which generally focuses on technology, finance and business services, healthcare and consumer industries, already has British lifestyle brand Cath Kidston in its portfolio following a 2010 deal."
Burberry ‘Vigilant’ as Fourth-Quarter Sales Trail Estimates (Bloomberg)
"Burberry Group Plc, the U.K.’s largest luxury-goods maker, reported fiscal fourth-quarter sales that trailed analysts’ estimates and said it remains vigilant as growth slows in Europe. Revenue from continuing operations rose 16 percent to 453 million pounds ($719 million) in the three months ended March 31, the London-based company said today in a statement."
Hugo Boss Plays Catch-Up in China (BusinessWeek)
"Even though it’s the world’s hottest market, especially for luxury goods, China offers no guarantees. Just ask Hugo Boss. The German luxury clothing maker began selling its apparel through franchisees or by wholesaling goods to independent retailers in Hong Kong as early as 1982, but it didn’t open its first company-run stores in China until 2006, 15 years after Italian suitmaker Ermenegildo Zegna."
Marchesa Said To Be Launching Contemporary Line (Fashionista)
"Marchesa may soon fall somewhere within a normal person’s range of affordability... WWD says that LF USA, the U.S. subsidiary of Hong Kong-based Li & Fung (and the same company currently reviving contemporary label Vena Cava), is 'said to be in talks with Marchesa about the launch of a new contemporary line' and 'an announcement could be imminent.'"