Luxury fashion retailer Aquascutum has narrowed its losses under new owners Jaeger tycoon Harold Tillman and Jaeger chief executive Belinda Earl.
The duo, who bought Aquascutum from Japanese manufacturer Renown in September 2009, reduced the company’s losses over the six months to February 28 2010 to £6m, compared with a £17m loss in the previous eight months.
According to the Evening Standard, sales growth is said to be in double digits.
Tillman was awarded the Commander of the Order of the British Empire (CBE) in November and is also chairman of the British Fashion Council.
He said: “The Jaeger and Aquascutum teams, led by Belinda Earl, have masterminded the recovery of Aquascutum. We are now delivering significant sales growth. Aquascutum is a British heritage brand with significant untapped global potential.”
Aquascutum was established in 1851 and opened its first UK factory in 1909.