M&S acquires Jaeger brand but no shops
Jaeger’s shops will not be saved
Marks & Spencer has confirmed its acquisition of the Jaeger fashion brand, which fell into administration last November.
It will take on the brand, but not Jaeger’s scores of shops and concessions.
The deal is the latest stage in M&S’s plan to break with tradition and stock other brands, which it announced in May last year.
Jaeger, formerly part of the Edinburgh Woollen Mill chain, joins products from the Early Learning Centre, as well as from two designers, Nobody’s Child and Ghost London.
Jaeger was founded in 1884, the same year as Marks & Spencer. It had 244 staff and 63 stores and concessions. It was not clear if any jobs will be saved.
Richard Price, managing director of M&S Clothing & Home, said: “We have set out our plans to sell complementary third party brands as part of our Never the Same Again programme to accelerate our transformation and turbocharge online growth.
“In line with this, we have bought the Jaeger brand and are in the final stages of agreeing the purchase of product and supporting marketing assets from the administrators of Jaeger Retail Limited. We expect to fully complete later this month.”