Failed Japanese apparel maker Renown Inc. recently said it will sell some of its main brands, including the D’urban suit brand, Aquascutum luxury clothing and Simple Life causal clothing, to Koizumi Co. apparel group in Osaka for an undisclosed amount. The company is expected to go into liquidation after the planned sale of its brands next month, according to Japanese media reports.
Founded in 1902, Renown filed for protection from creditors in May as a result of the pandemic-induced lockdown.Failed Japanese apparel maker Renown Inc. recently said it will sell some of its main brands, including the D'urban suit brand, Aquascutum and Simple Life, to Koizumi Co. apparel group in Osaka for an undisclosed amount. The company is expected to go into liquidation after the planned sale of its brands next month, according to Japanese media reports.#
Renown fell under the control of China’s Shandong Ruyi group in 2010 to restore its financial health. The Chinese textile group holds a 53 per cent stake in the company.
Fibre2Fashion News Desk (DS)
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