Tillman to explore a potential sale of stake in Jaeger
20/05/2008
Harold Tillman has appointed UBS to conduct a strategic review which could lead to a sale of his stake in the Jaeger fashion chain. He has been receiving several approaches from potential buyers about the label.Tillman, who bought the label in 2003, which is now nearly 125 year old, has a 70% stake in the business. The retail chain recently announced a 15% rise in sales to £82.2m and earnings before interest, tax, depreciation and amortisation of £6.1m. Former Debenhams chief executive Belinda Earl’s strategy to alter the label to appeal to younger consumers with the launch of Jaeger London was successful. In 2007, sales increased by 50%.
