Luxury apparel manufacturer/retailer Aquascutum
has collapsed, appointing FRP Advisory as administrator.
Approximately 250 jobs are at risk in the UK across Aquascutum’s
factory in Corby, three high-street stores, seven outlet stores
and 16 concessions. Famed for its iconic trench coat, Aquascutum
was founded in 1851. It was acquired by Harold Tillman and
Belinda Earl in 2009 and despite efforts to turn the business
around, the losses continued to mount. Tillman sold Aquascutum’s
sister company, Jaeger, earlier this week to investment vehicle
Better Capital. The Financial Times notes that YGM Trading, the
Hong Kong-based owner of the Aquascutum brand in Asia, is in
talks to buy the global brand rights.
Tesco has announced plans to invest £1
billion to improve the customer experience for its UK shoppers
after posting a 1 per cent dip in UK trading profit to £2.5
billion last year. The initiative will see Tesco employ more
staff in existing stores, initially in the fresh food
departments; stores will be given a revamp to look
“warmer”; there will be better promotions with more
personalised offers; the Tesco brands will relaunch and product
ranges improved; more relevant brand and marketing communications
will be put in place and finally, Tesco will focus on
multichannel integration, including the rollout of click and
collect services. UK sales in the year ended 25th February were
up 6.2 per cent to £47.4 million.
In related news, Tesco is now allowing third
parties to sell through its website. So far the Tesco Direct
website lists only Crocus and
Maplin on its sellers page, but says there are plans to add
more soon.
Following its success in France, private-sales club
BrandAlley has announced plans to bring its
Outlet offering to a wider UK audience. In contrast to the
flash-sales model, the Outlet is a “permanent” online
model. A spokeswoman explained, “BrandAlley sales usually
last only a day or two–or until they have sold out–but with
Outlet there is constant stock available all the time”. The
move will not change BrandAlley’s main sales strategy, which will
continue to focus on flash sales, but “it is an added extra
that customers have asked for,” she added. The Outlet was
soft-launched in the UK at the start of the year and has been
successful so far. A formal launch is expected soon.
In more secret-sales news, hot on the heels of the
Zulily’s UK debut, another mother and baby
flash-sales website has launched in the UK. New entrant
Casabu has partnered with
myfamilyclub.co.uk, a website specialising in
money-saving ideas for families, to promote the launch.
The Independent writes that Lord Wolfson, the
chief executive of Next, took a 15 per cent pay
cut last year. He took home £1.49 million.
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