Jade is snapped up by Mr Shoes

Branded footwear mini-chain Jade has been bought by former Olympian runner and Mr Shoes owner Mike Tagg.

Tagg, who owns the 20-store Norwich-based Mr Shoes chain, has bought four-store Jade for an undisclosed sum with a view to expanding the chain. The deal includes stores in Nottingham, LeamingtonSpa in Warwickshire, Leicester and Bristol.

Sources close to Tagg said he intended to run the two chains separately and will use Jade to target the more premium branded market. Jade already sells lifestyle brands such as Belstaff, whereas Mr Shoes focuses on mid-market brands such as Skechers and Dr Martens.

Jade buyer and operations manager Elisabeth Kennedy will remain at the business, but its head office will relocate to the Mr Shoes headquarters in Norwich.

Jade went into administration last year, but was rescued by its then-owner Surjit Sandher, known in the trade as Charlie.
Mr Shoes was founded in 1978 and opened a store on Neal Street in London's Covent Garden two weeks ago. Tagg was unavailable for comment.