Last time we wrote about doomed heritage label Aquascutum's tribulations, its Corby plant staff were dole queue-bound (no) thanks to the UK manufacturing base's closure.
Thankfully, having now found a solvent buyer in the shape of Asian licensee, YGM who beat off much stiff, eager competition - who no doubt hollered, check my credit report - to take the helm, they're back on course for success - we, err, hope.
After Tim Dally was appointed CEO shortly after YGM laid down the cash, it was clear heads were going to roll and latest to face the chopping block was Joanna Sykes, design director.
"It is very early days for us as a new management team," Tim Dally told WWD, "but we will shortly announce structural changes that will focus the business and ensure the longevity of this incredible British heritage brand."
We ask: will the new appointment mean the end for a thus-far seemingly never-ending revolving door of design directors? Michael Herz and Graeme Fidler's seven year tenure sadly couldn't raise Aquascutum's game. Let's face it, they need their Christopher Bailey to reinvigorate the iconic British brand and stop them trailing behind their peer Burberry in the style stakes.
Good news comes in the shape of City financier James Eden (formerly in the running race to purchase Aquascutum) who is now in negotiations with YMG to save the Corby plant. If he succeeds hopefully the staff won't be awaiting their P45's quite so soon after all.
(Images: Aquascutum A/W 2012)
Posted on June 06, 2012 at 5:38:20 by The Real Runway