Tycoon adds to empire
Day buys Jaeger, plans 50 department stores
Retailer Philip Day, owner of the Edinburgh Woollen Mill outlets, has opened the first of a planned chain of ‘department’ stores.
Mr Day, who confirmed this weekend that he has bought High Street fashion brand Jaeger, has opened the department store under the name Days, in South Wales.
He revealed his plans after adding Jaeger to a growing empire that now includes Peacocks and Jane Norman.
He opened the first Days store in Carmarthen on Friday, bringing all of his businesses together in one place. It will sell wine supplied directly from his vineyard in Valencia.
The 51-year-old tycoon, who played down his ‘billionaire’ listing in The Sunday Times Rich List, said that the retail industry was “the hardest it’s ever been”.
But he predicted that the high street would come back into favour despite the growth of online shopping which is expected to account for a third of all retail in the next few years. Mr Day said “people like shopping”.
He grew up in Manchester and has lived in Carlisle where he has financed the local football team and is friends with local business leaders.
He now lives in Dubai, spending only 10 days a year in Britain.