Marks & Spencer (M&S) recently announced it has purchased the Jaeger brand from its administrators as part of a strategy to bolster its clothing division with new names. It is in the final stages of agreeing to the purchase of product and supporting marketing assets from the administrators of Jaeger Retail Limited and expected to fully complete the deal later this month, the British retailer said.
No figures were disclosed. Jaeger was part of Philip Day’s Edinburgh Woollen Mill Group before going into administration.Marks & Spencer has purchased the Jaeger brand from its administrators as part of a strategy to bolster its apparel division with new names. It is in the final stages of agreeing to the purchase of product and supporting marketing assets from the administrators of Jaeger Retail and expected to fully complete the deal this month, the British retailer said.#
M&S chief executive Steve Rowe had said last year that the retailer would sell other brands to broaden the appeal of its business, a global news wire reported. It partnered online with Nobody’s Child in September and has also collaborated with Ghost and most recently with Early Learning Centre.
M&S recently reported another big fall in sales of clothing and homeware in the Christmas quarter as COVID-19 restrictions hit demand and closed space, factors it said were masking progress made on its turnaround plan.
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