Marks & Spencer buys collapsed fashion brand Jaeger

SourceSkyNews
SectorRetail
CountryMiddle east

Marks & Spencer has bought collapsed fashion brand Jaeger, which had been part of the Edinburgh Woollen Mill stable of retailers now in administration.Richard Price, boss of M&S's clothing and home division, 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."No purchase figures were disclosed.Jaeger was placed into administration with sister firm Peacocks in November by Dubai-based owner and retail billionaire Philip Day. Mr Day's EWM Group had called in administrators for Edinburgh Woollen Mill and Ponden Home in November. ...read more...