Brit fashion chain Jaeger up for sale

Last Updated: Feb 14, 2011, 16:10 PM IST

London: The British fashion chain Jaeger is all set for a sale after owner Harold Tillman was approached by a number of buyers.

The 127-year-old retailer has asked Rothschild investment bank to head a strategic review that could lead to a disposal.

While Tillman owns 72 percent of the business, chief executive Belinda Earl owns 20 percent, reports the Guardian.

Under Earl’s leadership, the retailer has launched a number of new brands including Jaeger London, which it will show on the catwalk at this week’s London Fashion Week, and Boutique by Jaeger, which is aimed at younger, more fashionable customers.

"We see ourselves as an affordable luxury brand at the premium end of the high street. There’s a lot of potential without reaching the dizzy heights of a designer brand,” she said.

The retailer, which was on its knees with annual losses of 12million pounds, has more than 40 stores in the UK.

Its most recent results showing earnings of 7million pounds on sales of 85.5million pounds led some analysts to speculate that a sale could fetch up to 100million pounds, delivering a substantial payday for its owners.

ANI