Jaeger sells for £20 million while Aquascutum is “on the brink of collapse”
According to Vogue, struggling British label Jaeger has been sold to Guernsey-based investment company Better Capital for £20 million!
“The board is pleased that Jaeger has a new owner in Better Capital, thereby securing the future of the business,” reads a press release from Jaeger. “The investment that Better Capital has provided will create a strong foundation on which to further develop our iconic brand.”
British Fashion Council chairman Harold Tillman acquired the brand back in 2002, but last year saw Jaeger’s profits fall by over 60%, proving that it too had fallen victim to the recent problems of the British high street.
Jaeger has hopefully sorted itself out for the time being, but it’s been reported today that the same can’t be said for Aquascutum. The brand is apparently on the verge of being placed into administration, while it’s autumn/winter 2012 press day has even been cancelled due to “unforeseen circumstances’…
We’ll let you fill in the blanks.
Author: Maria Pierides
Maria joined the MFL family in 2011 and has been a permanent member since. When she's not scouring the net for the juiciest fashion stories or attending fabulous events you can find her (always with a Starbucks in hand) milling around Oxford Street, Carnaby Street, Brick Lane or Shoreditch looking for either a bargain or stand-out addition to her wardrobe.
Fashion news related tips and press releases can be sent to maria.pierides@my-lifemedia.com
