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Menswear push starts at Jaeger

Jaeger has targeted menswear as a key area for growth this year after posting a strong sales and profits hike in its full-year results.

Jaeger group chief executive Belinda Earl said menswear offered a big opportunity for the business to grow sales.

“About 30% of the business comes from menswear, but we are looking to significantly grow this across the Jaeger London and Jaeger Black sub-brands, and accessories,” said Earl.

The group is set to more than double the distribution of its Jaeger London menswear, which is its more contemporary fashion-forward collection, to 25 UK stores this year. It is already available in 10.

The retailer also plans to boost sales of both men’s and women’s accessories, which account for about 15% of total sales, by up to 10% in the next five years.

Jaeger will add five new shops in the UK and nine shop-in-shops and concessions in John Lewis and House of Fraser this year.
At the moment Jaeger operates in 15 markets but is looking to enter new markets including Russia, Europe and the US.

Earl said the group also plans to expand its international wholesale arm, which accounts for just 5% of its business.

Jaeger’s EBITDA rose 22% to £6.1 million for the year ended February 23, with sales climbing 16% to £82.2m.

Earl said the strong performance was boosted by shop refurbishments in 11 of its stores.

Its transactional website currently services just the UK, but Earl said the company would open this up to serve customers around the world over the next few years.

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