Asprey Celebrates 225 Years of British Luxury Opening New Flagship on Madison Avenue

NEW YORK, April 30 /PRNewswire/ -- Asprey marks 225 years of the best of British luxury this year, a celebration of both its prestigious heritage and exciting future as one of the world's most refined and renowned purveyor of luxury goods. The company has much to look forward to as it moves towards its next stage of evolution; there are new owners, a new Creative Director at the helm and a new flagship store for the US on Madison Avenue.

The new 7500 sq ft store on Madison Avenue at 70th Street, is located in the heart of one of Manhattan's most exclusive residential neighbourhoods. Based on the design aesthetic of the famed London store restored by wellknown British architect Norman Foster, the New York location has been infused with contemporary design touches and an eclectic melange of antiques from Karl Kemp to create an inviting atmosphere, housing its unique mix of old and new, traditional and contemporary.

In defining the future of such a revered brand, the new owners, in tandem with the management team, conceived of an Asprey that would repeat its historical success stories and thrive in today's competitive luxury arena. Asprey is known for its grand tradition of British craftsmanship and design and for catering to an exclusive audience of the world's most discerning customers.

The product mix that the new store will house, ever Asprey and quintessentially British, demonstrates the attention to detail and inspired design upon which Asprey built its reputation. Always known for its fine jewellery, watches and silver, Asprey has expanded upon its craftsmen's talents and created exquisite china, crystal, clocks, baby gifts, luggage, small leather goods, ready-to-wear, objects for the home, rare books, games and fragrance - all packaged beautifully in that coveted purple box.

The new collections are evolving under the talented hand of the creative director, Hakan Rosenius, who came to Asprey with a contemporary take on fine British traditions. The workshops above the Bond Street store in London have just begun turning out Asprey's newest designs, amongst them ready-to-wear collections for women and men which will arrive this fall, new jewellery lines, accessories and home ware. The new designs include women's cream swing back coat with black and gold metal cornice embroidery, men's camel cashmere coat with shared mink collar, 1920's inspired black onyx and diamonds jewellery, silver trays trimmed in alligator and other precious objects.

In March of 2006, Sciens Capital Management and Plainfield Asset Management LLC purchased Asprey and embarked upon a major restructuring of its operations, including the closing of the former Trump Tower location in New York and the revamping of all its marketing, sales, design and production activities. The appointment of the new Creative Director Hakan Rosenius last August marks a turning point for the brand in its new era.

The new flagship on Madison is one of the latest initiatives in the company's plan for strategic growth in luxury markets. It brings the number of points of sale worldwide to 20, following openings in Hong Kong, St Moritz, Dubai, Tokyo in the last twelve months and with plans to open in Russia and India in the near future.

This year Asprey, who has enjoyed centuries of royal and celebrity patronage, was awarded a "Coat of Arms" by the prestigious London Royal College of Arms. A new range of special limited edition products was created to celebrate this event. The collection, inspired by the original 1920's Asprey "London Arms" designs, makes its American debut at the Madison Avenue opening.

On the evening of May 3, 2007, Asprey will celebrate its 225th anniversary with the inauguration of the new store on Madison Avenue in the presence of Hakan Rosenius and a host committee of friends of the house who have invited their guests to toast Asprey history and future. "We are extremely pleased to announce the opening of our flagship in Madison Avenue in the year that we celebrate the 225th anniversary of the company", said Gianluca Brozzetti, Asprey Group CEO. "Asprey, which is a brand very familiar to many American customers, is now at home in one of the most prestigious and exclusive shopping streets in the world", he added.

Asprey Background

Asprey, the ultimate British luxury lifestyle house, established in 1781 and celebrating this year its 225th anniversary, saw the re-opening of the flagship store in New Bond Street redesigned by the famous architect Lord Norman Foster in May 2004.

The Asprey Creative Director today is Hakan Rosenius. He oversees, together with his team, the design of all product categories and the management of all advertising, press office, promotion and visual merchandising activities.

Hakan Rosenius presented, for the first time, the Autumn Winter 2007 collection during "London Fashion Week" in the atrium of the Bond Street store last February.

  Worldwide, Asprey has now 20 points of sale:
  - 5 in the UK: in London New Bond Street, at Harrods, at the Royal County
    of Berkshire Polo Club, at Four Seasons Hotel in Hampshire, at Heathrow
    Terminal 4
  - 1 in Switzerland: in St. Moritz
  - 3 in the US: in New York, in Beverly Hills and in Honolulu
  - 5 in Japan: in Tokyo Namikidori Street, in Takashimaya Ninhombashi and
    Shinjuku, at the Ritz Carlton in Roppongi, at Sogo in Osaka
  - 2 in Asia: in Hong Kong at the Peninsula Hotel and in Kuala Lumpur at
    Star Hill
  - 1 in Middle East: in Dubai at the Mall of Emirates
  - On board in British Airways, Japan Airlines and all Nippon Airways

In fiscal year ending March 2007 Asprey "Revenues" have been US$42 million, with worldwide "Retail Sales" in owned, franchising and travel retail stores growing +20% versus previous year, excluding the effect of New York temporary store relocation.

About Asprey Shareholders

In March 2006, Asprey was acquired by an investor group led by Sciens Capital Management and Plainfield Asset Management, with the objective of continuing the expansion of this prestigious British luxury brand and restoring it to its historical position of prominence.

Sciens Capital Management LCC is a New York based alternative asset management firm investing in private equity, hedge funds, structured finance and real estate, both in the US and Europe. Founded in 1994, Sciens Capital has invested in over 35 companies in a broad range of industries at various points in their development cycle and maintains a tradition of collaboration with talented entrepreneurs to establish successful, enduring companies.

Based in Greenwich, Connecticut, Plainfield Asset Management LLC is an investment advisor registered with the Securities and Exchange Commission. Plainfield manages in excess of $1 billion of investment capital for institutions and high net worth individuals based in the United States and abroad. The firm was founded in February 2005 and launched the Plainfield Special Situations Master Fund in May 2005.

  Asprey Key Dates
  - 1781 Asprey begins trading, with founder William Asprey in Mitcham
  - 1847 Asprey flagship store opens on New Bond Street
  - 1851 "Gold Medal" at the Great Exhibition, by HM Queen Victoria
  - 1855 "Gold Medal" at the Exposition Universelle in Paris
  - 1862 "Medal of Excellence" at the International Exhibition in London, by
         HM Queen Victoria
  - 1862 First Royal Warrant to HM Queen Victoria
  - 1863 Royal Warrant to HRH Prince Albert Edward, Prince of Wales
  - 1901 Royal Warrant to HM King Edward VII
  - 1902 Royal Warrant to HRH Prince George, Prince of Wales
  - 1911 Royal Warrant to HM King George V
  - 1920 Royal Warrant to HRH Prince Edward, Prince of Wales
  - 1925 HM Queen Mary commissions the 18th birthday necklace for HRH
         Princess Margaret
  - 1930 Maharajah of Patiala commissions five trunks, one for each of his
         five wives
  - 1940 Royal Warrant to HM King George VI
  - 1955 Royal Warrant to HM Queen Elizabeth II
  - 1961 Royal Warrant to HM Queen Elizabeth, the Queen Mother
  - 1973 Bespoke Chess Set is commissioned for Ringo Starr's birthday
  - 1982 Royal Warrant to HRH Prince Charles, Prince of Wales
  - 1975 "Queen's Award to Industry" by HM Queen Elizabeth
  - 2004 Lord Foster and David Mlinaric renovate the flagship store in New
         Bond St
  - 2005 "Best Store Renovation" award by Royal Institute of British
         Architects
  - 2006 Sciens Capital Management and Plainfield Asset Management acquire
         Asprey
  - 2006 Hakan Rosenius is appointed Asprey Creative Director
  - 2006 Asprey opens stores in Dubai, St Moritz, Hong Kong and Tokyo
  - 2006 Asprey receives its own "Coat Of Arms" by Royal College of Arms
  - 2006/2007 Asprey celebrates its 225th anniversary
  - 2007 Asprey opens New York Flagship Store on Madison Avenue