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| UK Businesses For SaleTillman 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 received 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%. Earl has been quoted as saying that there are plans to develop Jaeger’s online and accessories business. Later this year, Jaeger is to open new stores in South East Asia and the Middle East. Jaeger lines will also appear as franchises in Japan and in department stores in Australia. According to Tillman, the credit crunch has not adversely affected interest in the brand. Due to international expansion, Jaeger is reaching a broader consumer group. Tillman, the retail entreprenuer, has recently taken over as chairman of the British Fashion Council from Sir Stuart Rose. His other retail interests include Allders of Croydon. |
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