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INTERVIEW-New owner to expand Aquascutum's product ranges

Published 09/08/2009, 05:05 AM
Updated 09/08/2009, 05:09 AM

* Plans expansion in accessories, Russia and U.S. markets

* Recent Aquascutum sales "fairly static" year on year

* Jaeger seeing growth in like-for-like sales

By Mark Potter

LONDON, Sept 8 (Reuters) - British luxury fashion entrepreneur Harold Tillman plans to add new product ranges like accessories to the Aquascutum fashion brand he bought on Tuesday to sit alongside his Jaeger business.

Tillman also told Reuters he wanted to expand Aquascutum in markets like Russia and the United States.

"The integrity of the brand is superb. It's very much punching above its weight," he said in a telephone interview.

"There are markets where it's well known, but it hasn't got a big hold yet and these are the areas we're looking into."

"It is quite mature in Asia. We believe now that (in) Europe, certainly Russia, and America, there's a great opportunity to expand the business."

Tillman, who declined to say how much he had paid to buy Aquascutum from Japanese group Renown, said it was too early to know how much he would have to invest in the brand.

"We will get into the business, meet the management and hopefully spray our stardust on it," he said.

Tillman said his strategy would be similar to the one he used to turn Jaeger into a profitable business, which involved extending the brand into areas like accessories and homewares.

Recent sales at Aquascutum had been "fairly static" year on year, while like-for-like sales at Jaeger were growing, he said, declining to give further details. (Editing by Jon Loades-Carter)

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