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Reuters Summit-Kim Winser has luxury goods deals in sights

Published 06/09/2009, 11:20 AM
Updated 06/09/2009, 11:24 AM

(For other news from the Reuters Global Luxury Summit, click on http://www.reuters.com/summit/GlobalLuxury09?PID=500)

LONDON, June 9 (Reuters) - Kim Winser, the former head of British luxury clothing brand Aquascutum, has drawn up a shortlist with investors of two potential acquisition targets as she considers her next move in the industry.

Winser told the Reuters Luxury Goods Summit on Tuesday that her management buyout bid for Aquascutum, which was rejected by Japanese owners Renown last month, was still on the table, although she did not expect talks to resume.

She has also been tipped as the next head of Italian fashion house Versace, whose chief executive quit on Friday, and as a future leader of British retailer Marks and Spencer, where she worked for over 20 years.

"(It's) a very difficult dilemma for me," said Winser, who made her name in luxury goods by taking Scottish knitwear brand Pringle from golf courses to the catwalks of Milan.

She declined to comment on her next career move but said that even though she was attracted to running her own business, she would join another if it was the right brand.

"For me it's the brand and the consumer and if you can have the right brand, I think it's the most important thing."

Winser said both her potential bid targets were foreign luxury goods brands that include clothing and accessories.

One has annual revenues of about 300 million pounds ($483 million) but has "just been allowed to trickle on a bit in the recent past."

The other has annual revenues of about 1.8 billion pounds and, as Aquascutum did, needs restructuring after it "probably tried to go too wide," Winser said. (For summit blog: http://blogs.reuters.com/summits/) (Reporting by Mark Potter; Editing by Rupert Winchester)

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