The UK fashion chain, the team behind Jaeger led by clothing entrepreneur Harold Tillman, is mulling to purchase 158-year-old British luxury brand Aquascutum.

It was forwarded by Harold Tillman, the chairman and majority owner of 125-year-old Jaeger, and Belinda Earl, the group chief executive of Jaeger, that they were buying majority of Aquascutum for an undisclosed sum.

It was Renown, the loss-making Japanese clothing maker, which put up Aquascutum for sale. In the year 1990, it paid a sum of £100m for the brand. Nearly 120 people are employed at the company's factory in Northamptonshire. The company, apart from having a store in London's Regent Street, also is the maker of the 'great British trenchcoat'.

It has appeared that the deal will see the sale of the Asian brand rights of Aquascutum to the Hong-Kong based YGM for £13.7m.

Mr. Tillman and Ms Earl informed that the brand will be taken care of, along with Jaeger, in order to achieve synergies for both businesses.