Premium retailer Jaeger has received a £7.5m boost to its coffers from private equity owners Better Capital to open more stores, refurbish existing branches and bolster its online business.
The investment is being used to support the retailer’s five-year strategy, which began last autumn under new chief executive Colin Henry, to turn the company’s fortunes around. Key elements of the strategy include returning Jaeger’s focus on British heritage – in particular by increasing its emphasis on British-made products - and re-establishing the brand with its core UK customers.
Its first new concept store on London’s King’s Road will also be relaunching in autumn 2014.
Better Capital acquired a 90% stake in Jaeger for an undisclosed sum in April 2012, and in its first year under new parents more than halved losses after tax from £35.5m to £13.1m.
Henry said: “We have a clear strategic and creative vision to refocus Jaeger on its premium British heritage and re-establish the brand amongst its core UK customers. The business continues to trade strongly and this additional investment will allow us to accelerate the delivery of our strategy to realise the full potential of one of Britain’s most prestigious and cherished brands.”