80 630
Fashion Jobs
Manager, Business Administration
Permanent · Bay Shore
Asset Protection Detective, Quaker Bridge Mall - Part Time
Permanent · Lawrence Township
Asset Protection Detective, Dadeland - Full Time
Permanent · Miami
Asset Protection Detective, Garden State Plaza - Full Time
Permanent · Paramus
Asset Protection Detective, Gurnee Mills - Part Time
Permanent · Gurnee
Asset Protection Detective, Sunrise - Part Time
Permanent · Citrus Heights
Asset Protection Captain, Irving Mall - Full Time
Permanent · Irving
Asset Protection Detective, Monmouth - Full Time
Permanent · Eatontown
Asset Protection Captain, Oakland - Full Time
Permanent · Troy
Asset Protection Detective, King of Prussia - The Court - Full Time
Permanent · King of Prussia
Asset Protection Detective, Mid Rivers Mall - Part Time
Permanent · St. Peters
Asset Protection Detective, Los Angeles dt Broadway Plaza - Flex
Permanent · Los Angeles
Asset Protection Detective, Northgate - Full Time
Permanent · San Rafael
Asset Protection Detective, Yakima Valley Mall - Full Time
Permanent · Union Gap
Asset Protection Detective, Monroeville - Part Time
Permanent · Monroeville
Asset Protection Captain, Hillsdale - Full Time
Permanent · San Mateo
Assistant General Manager - Mall of Georgia
Permanent · Buford
National Sales Manager – Digital
Permanent · Bradenton
Asset Protection - Agent - Great Lakes Crossing Rack
Permanent · Auburn Hills
Manager - Asset Protection - San Bernardino Fulfillment Center
Permanent · San Bernardino
Asset Protection - Agent - The Shops at la Cantera
Permanent · San Antonio
sr. Manager Category Marketing
Permanent · Denton
Mar 16, 2017
Reading time
2 minutes
Download the article
Click here to print
Text size
aA+ aA-

Edinburgh Woollen Mill is favourite to buy Jaeger - report

Mar 16, 2017

The list of bidders for Jaeger has grown and it looks like Edinburgh Woollen Mill could be in the lead with sources saying its owner’s track record of turning around businesses  gives it a strong chance of winning the prize, according to reports.

Edinburgh Woollen Mill is one of the suitors for classic brand Jaeger

Jaeger is owned by private equity firm Better Capital, which has battled against tough business conditions for the venerable upscale classic fashion brand since it paid £19.5 million for it five years ago.

Edinburgh Woollen Mill is owned by billionaire Philip Day and in recent years has bought a raft of struggling or failed businesses, including Jaeger peer Austin Reed, and mass-market chains Peacocks and Jane Norman.

Jaeger has spent many  decades ricocheting from a classic to a more trend-led positioning and then back again but has not quite found its niche. In recent years it has closed a large number of stores, although its turnaround programme has also seen it starting a smaller-scale store opening programme.

Its last annual accounts showed sales down to £78.4 million and a pre-tax loss of  £5.4 million.

Would Philip Day be able to put it on an even keel? That is a difficult question to answer with Jaeger facing a very different market from it heyday decades ago. Today it is just one of a number of higher-priced classic brands having to face the new reality of its core customers becoming more trend-focused and also finding the looks and quality they want at lower price elsewhere.

But Day’s experience could make a difference. The Press Association, which first reported news of Day’s interest, said a source told it that "Edinburgh Woollen Mill has a history of buying troubled retailers and turning them around, and it's one of the more credible bidders for Jaeger.”

However, Day’s company is not the only bidder with former Jaeger owner Harold Tillman also reported to be on the list, as well as Sports Direct owner Mike Ashley.

Ashley has been moving more upscale and away from his roots in pile-it-high, sell-it cheap retailing. He has acquired stakes in French Connection and Debenhams and also owns Flannels, as well as having a major stake in the new owner of Agent Provocateur.

Copyright © 2022 FashionNetwork.com All rights reserved.