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Tillman to sell Jaeger fashion chain
16
Feb '11
The rag trade expert and Chairman of the British Fashion Council, Harold Tillman has put up the UK based fashion chain, Jaeger for sale.

Tillman, who saved the business from insolvency some eight years back, is supposed to have acquired the business from Richard Thompson, an entrepreneur who used to manage the Queen's Park Rangers in 2003 for a meagre sum.

Tillman, pursuing his success with Jaeger, in 2009 acquired the striving 158 year-old business, Aquascutum from its Japanese proprietor, Renown.

Tillman has engaged investment bankers Rothschild to contemplate over the strategic options for Jaeger and to access the bids that have been actually made for acquisition of the business over the past one month.

Jaeger now operates 46 outlets across the UK with a total annual turnover of £86million and a profit of seven million pounds, which is a real twist in the circumstances which appeared at the time of its acquisition, when it registered a loss of £12 million.

Recently, the company revealed that it has signed a partnership agreement with a Russian luxury brand distributor, Jamil Company, which would ensure that Jaeger launches its first outlets in Moscow during the forthcoming spring season.

Fibre2fashion News Desk - India


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