Better Capital is responding to incoming interest in Jaeger

Better Capital is responding to incoming interest in Jaeger

Jaeger owner Better Capital is understood to be exploring options for the upscale fashion brand, including a potential sale, after receiving interest in the business. 

According to a person close to Better Capital, AlixPartners is assisting the firm in responding to incoming interest in the business, but no formal process is planned. 

Jaeger, which operates 64 free-standing stores in the UK, is mid-way through its turnaround, designed to refocus the brand on its premium British heritage and re-establish it among its core domestic customers. 

Indeed, the group's turnaround efforts started to bear fruit after it booked a "solid" performance during the Christmas trading period last year, driven by strong online sales growth. But while total sales grew 8.3% for the 13 weeks to 3 January and like-for-like sales were up 8%, margins were reduced due to greater promotional activity. The company has also required further capital injections from its owner. 

The move to respond to incoming interest comes less than a month after Jaeger CEO Colin Henry stepped down following what reports say was an “unexplained leave of absence” from the company. It also followed that of chairman Peter Williams who announced his departure in May, after just six months in the role. 

Better Capital and Jaeger declined to comment when contacted just-style.