Aquascutum in administration

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Following reports this morning, Aquascutum has confirmed that it has entered administration today and has appointed joint administrators Geoff Rowley and Phil Armstrong - partners at FRP Advisory LLP, the specialist restructuring, recovery and insolvency firm - to oversee the process.
"We are conscious of the value of the Aquascutum brand and its long-standing heritage and because of this are keen to enter in to early discussions with interested parties open to purchasing the business as soon as possible,"  joint administrator Geoff Rowley said this afternoon. "We will of course be conducting an urgent assessment of all stores and concessions and look to communicate to staff and suppliers at the very earliest opportunity."
The directors made the decsion to begin administration proceedings following "significant losses" over the past year. Between its British stores and its UK-based manufacturing sites, Aquascutum employs 250 people in the UK.



Billion dollar burberry

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Burberry has joined a league of fashion heavyweights that includes Prada, Gucci and Louis Vuitton as a billion-pound label.
"We are the only global luxury goods brand from Britain," the label's finance director Stacey Cartwright told the Evening Standard. "We are unique and we are balanced across clothing and leather goods. Our other difference is our focus on digital. Shoppers can buy straight from the catwalk with iPads in stores and we now have more than 12 million Facebook fans."
The luxury British brand has reached record sales of     £1 billion in the past six months - an increase of 18 per cent, thanks to a boost in the British, French and Chinese markets.



Marchesa's new line

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Marchesa  is reportedly preparing to launch a contemporary line. The British label, known for its red-carpet-worthy, opulent and feminine designs, is said to be completing a deal with LF USA - the US branch of Hong Kong-based investment company Li & Fung.
This would be the second acquisition for LF USA in a matter of weeks, if the WWD rumours come to fruition, after the company  signed a backing deal with New York-based label Vena Cava  earlier this month.
Marchesa would follow in the footsteps of a host of luxury brands that have launched contemporary lines, including Karl Lagerfeld's  Karl; Alice Temperley's  Alice By Temperley; Marc Jacobs'  Marc by Marc Jacobs;  Matthew Williamson's  MW by Matthew Williamson; Alexander McQueen's  McQ; Victoria Beckham's  Victoria, Victoria Beckham; Versace's  Versus; and  Alexander Wang's  T by Alexander Wang.



McQueen and Galliano

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Karlie Kloss has spoken about her experiences with two of fashion's biggest names:Alexander McQueen and John Galliano.
"Alexander McQueen once told me before I went out on the runway - I was wearing a dress that was very long and difficult to walk in, and I was concerned the dress was going to get caught on my shoe - 'Don't worry, Karlie; if it does, just take it off and throw it, throw the dress. Remember - YOU own the dress, the dress does not own you!' It was a moment I will never forget."
Her most treasured possession, she admits, is her "Dior bag from John Galliano. He gave it to me after we shot my first campaign with Steven Meisel, and I cried when I opened it. It is the most beautiful, timeless Dior bag. It is such a special reminder of that time in my career; someday I will give it to my daughter."






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