Aquascutum pushes international expansion

As part of its international expansion strategy, fashion group Aquascutum will open a flagship store in New York . Chief executive Kim Winser, who previously headed up knitwear company Pringle, has promised to double sales to around £440 million by 2010 through international expansion and the launch of accessories. Improving operations and products should also help lift the company out of debt. From next fall, Aquascutum will begin selling in select US department stores and will open a flagship store in New York in 2008. The group currently has approximately 300 stores in the UK , Japan , Hong Kong , China and South Korea .

Despite being worn by royals and Hollywood A-listers, the group has been easily surpassed in popularity by equally traditional British fashion houses Burberry and Pringle. Having updated their ranges, these companies have managed to attract both trendsetters and the general public. In its efforts to turn its fortune around, Japanese private equity group Kaleido Holdings hired Winser in April. The first thing she did was to launch an advertising campaign featuring Pierce Brosnan and model Julia Stegner. The Scottish Winser shrewdly chose to launch the brand in the US at a later date, despite having two interested US parties willing to buy the range for an earlier season. "There were two department stores that chose to buy us for spring 2007," she told the Scotsman. "We said we would wait until autumn 2007. We want to make sure that we have got everything in place. We have never sold to the States - we are not geared up for it. I want to make sure we do a good job."

Sales are currently £220 million, and Winser believes that she can break even in 2008, turn a profit by 2009 and double sales by 2010. She said about £40 million will be invested. "This year and next year will be expensive - we won't get that much in sales and have to invest in shop-fitting. I see 2007 as year one." She added that she also intends to open stores in Paris and Moscow , and wants to establish franchises in the Middle East .