JAEGER, the high end fashion brand and retailer, has received an additional £7.5m investment from its private equity owners Better Capital it announced yesterday.
The investment comes two years after Better Capital bought Jaeger out of administration after a difficult autumn and winter in 2011 hurt sales.
“We have a clear strategic and creative vision to refocus Jaeger on its premium British heritage and re-establish the brand amongst its core UK customers,” said chief exec Colin Henry, who was appointed in July 2013 to turn around the UK firm.
“The business continues to trade strongly and this additional investment will allow us to accelerate the delivery of our strategy to realise the full potential of one of Britain’s most prestigious and cherished brands,” added Henry.
In January Jaeger reported that like-for-like sales had risen 23 per cent in the 13 weeks to 28 December thanks to changes to its website, which helped boost online sales by 57 per cent.
Jaeger said yesterday its focus remained on building its UK business through investments in online sales, increasing its marketing spend and refurbishing stores.