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New boss sticking with Jaeger’s plan

The new chief executive of Jaeger, Colin Henry, will build on plans forged under Stewart Binnie’s brief chairmanship, pursuing “steady” domestic and overseas growth.

Last week, Drapers exclusively revealed that Henry had been hired to head up the chain. He will take up the reins on July 15, joining from Esprit, where he was chief product officer for the past two years.
Henry has previously worked at Coats Viyella, Umbro and Polo Ralph Lauren. Nick Sanders, head of portfolio at Jaeger’s private equity owner Better Capital, told Drapers Henry “has a lot
of experience around the sector”.

But there would be “no change in strategic direction”, which had been hammered out with Binnie in the months following Better’s acquisition in April.

The key will be to “simplify” the business around its core customer and mainline Jaeger collection, while also pushing out to Europe, the US and Asia, through a mixture of franchises and concessions.

The chain is likely to close a number of stores that are underperforming, while opening in new locations.

Sanders said: “We expect steady and consistent, rather than spectacular, growth.”

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