UK retailer M&S buys Jaeger model

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Marks & Spencer (M&S) lately introduced it has bought the Jaeger model from its directors as a part of a technique to bolster its clothes division with new names. It’s within the ultimate phases of agreeing to the acquisition of product and supporting advertising and marketing belongings from the directors of Jaeger Retail Restricted and anticipated to totally full the deal later this month, the British retailer mentioned.

No figures had been disclosed. Jaeger was a part of Philip Day’s Edinburgh Woollen Mill Group earlier than going into administration.

M&S chief govt Steve Rowe had mentioned final yr that the retailer would promote different manufacturers to broaden the attraction of its enterprise, a world information wire reported. It partnered on-line with No one’s Youngster in September and has additionally collaborated with Ghost and most lately with Early Studying Centre.

M&S lately reported one other large fall in gross sales of clothes and homeware within the Christmas quarter as COVID-19 restrictions hit demand and closed area, elements it mentioned had been masking progress made on its turnaround plan.

Fibre2Fashion Information Desk (DS)

Marks & Spencer has bought the Jaeger model from its directors as a part of a technique to bolster its attire division with new names. It’s within the ultimate phases of agreeing to the acquisition of product and supporting advertising and marketing belongings from the directors of Jaeger Retail and anticipated to totally full the deal this month, the British retailer mentioned.