Jaeger is reportedly a step closer to exiting its 27,500 sq ft flagship on London’s Regent Street after occupying the store for 80 years.
The retailer is in talks to sell the lease to US luxury accessories brand Coach for about £5m, according to The Sunday Times. Coach already occupies a store at 76-78 Regent Street and is expected to upsize into the larger Jaeger store at number 200-206.
It comes after Jaeger chief executive Colin Henry left the business last week. The retailer’s private equity owner Better Capital has appointed turnaround consultancy AlixPartners as a financial advisor.
Jaeger owner Better Capital told the newspaper: “We have stated in the past that our Regent Street store is too big for us so we wanted to relocate, and we continue to explore our options.”