Marks & Spencer snaps up Jaeger fashion brand
Marks & Spencer has announced that it has bought the Jaeger fashion brand, which fell into administration last November. It is taking on the brand, but not Jaeger’s scores of shops and concessions.
It is now in the process of finalising a deal to buy its products and “supporting marketing assets”. M&S announced in May 2020 that it planned to stock other complementary brands to boost sales.
Since then, it has started to sell products online from the Early Learning Centre, as well as from two designers, Nobody’s Child and Ghost London.
Richard Price, managing director of M&S Clothing & Home, said: “We have set out our plans to sell complementary third party brands as part of our Never the Same Again programme to accelerate our transformation and turbocharge online growth.
“In line with this, we have bought the Jaeger brand and are in the final stages of agreeing the purchase of product and supporting marketing assets from the administrators of Jaeger Retail Limited. We expect to fully complete later this month.”
Source: BBC Business