LONDON, May 24 (Reuters) - Japan's Renown Inc (3606.T) is in talks to sell its upmarket British fashion brand Aquascutum to China's YGM Trading (0375.HK), The Sunday Times newspaper reported.

Aquascutum

Talks with Aquascutum, a 155-year-old brand best known for expensive, English-made raincoats, are at a "delicate stage", the newspaper said.

Kim Winser, the British boss of Aquascutum, resigned on Friday 22 May after failing in a rival bid she had been negotiating for 12 months, the paper said.

Clothing retailer YGM already has the licence to sell Aquascutum clothes in Asia, the brand's biggest market.

Renown had said last year it was considering selling Aquascutum as part of a restructuring following three straight years of losses. (Reporting by Rosalba O'Brien; Editing by Dan Lalor)