Fashion businessman, Harold Tillman, chairman of Jaeger, has bought luxury British brand Aquascutum from its Japanese owners.
The fashion label now returns to British hands after it was bought from Japanese company Renown Incorporated.
Mr Tillman will own the label with business partner and Jaeger CEO Belinda Cole.
Aquascutum will be managed alongside Jaeger, which the partners expect will now have a combined worth of £300m.
Aquascutum holds three Royal Warrants – awarded in 1897, 1911 and 1947.
Mr Tillman said: “We are pleased to be able to return this global luxury heritage fashion brand to British ownership. The Aquascutum brand has a strong positioning in the international arena and has seen significant investment in recent years. “
“Belinda and I have worked successfully together for the last five years and our strong track record, experience and complimentary skills will enable us to continue the development of the Aquascutum brand world-wide.”
Born in South London, Mr Tillman became chairman of the British Fashion Council last year, succeeding Marks and Spencer boss Sir Stuart Rose.
He is a member of Highgate synagogue.