It has been reported that a Chinese company could be purchasing the iconic British trench coat and retailer Aquascutum for around $120 million USD.
According to Bloomberg, Shandong Ruyi Group, a textile company, plans to buy Aquascutum from Hong Kong-listed YGM Trading and is currently conducting due diligence.
Founded in 1851 by John Emary, the retailer’s trench coats were made for the British military and were later worn by Humphrey Bogart, the American film actor and Prime Minister Margaret Thatcher, according to the retailer’s website.
