Sale of “Aquascutum” by YGM Trading Limited

Loeb & Loeb LLP advised YGM Trading Limited (“YGM”, together with its subsidiaries, “YGM Group”) in the sale of its wholly-owned subsidiary, Aquascutum Holdings Limited (“Aquascutum”, together with its subsidiaries, “AQ Group”) to Shandong Ruyi International Fashion Industry Investment Holding Co., Ltd., a China-based textile producer, for US$117 million.

YGM, founded in 1949 and listed on the main board of Hong Kong Stock Exchange since 1988 with stock code 375, is a Hong Kong-based market leading marketer and builder of international apparel brands. The business of YGM Group comprises mainly wholesaling and retailing of brand garments, leather goods and accessories, as well as licensing of trademarks.

Prior to the completion of the sale, Aquascutum was a wholly-owned subsidiary of YGM and acted as investment holding company of AQ Group which in turn is engaged in the manufacturing and sales of products under the “Aquascutum” brand, a high-end prestige apparel brand originated from the United Kingdom, and intellectual property rights associated with the brand.