Aquascutum’s new owner YGM Trading has appointed Tim Dally as chief executive of the UK business, the company name of which is now Aquascutum 1851.

YGM bought the UK luxury fashion retailer in a £15m deal yesterday, acquiring the three high street stores at Westfield London, Canary Wharf and Windsor, 16 concessions and its head office operations, and preserving 100 jobs.

Dally was previously chief executive of TPD Luxury Solutions, the global licence holder of Aquascutum Golf, which is completely separate from the other Aquscutum businesses barring the name.

Dally said: “Aquascutum has wonderful heritage and enormous global potential. I am excited by this opportunity to be at the helm of this iconic British brand.”

Dally worked at Aquascutum’s UK business in the 1990s.

YGM managing director William Fu said: “It is very clear that reuniting the Aquascutum brand globally presents a once in a lifetime opportunity for YGM to build on the success of the brand in Asia. 

“Aquascutum is an iconic British heritage brand.  Owning the brand globally and having a base in the UK will allow us to quickly re-establish Aquascutum at the pinnacle of the luxury apparel market on the world stage as well as to protect many British jobs.”