Fashion retailer Jaeger, popular with the Duchess of Cambridge Kate Middleton, is on Harold Tilman’s radar.
Tilman, who ran Jaeger for eight years from 2004, has approached its owners – Better Capital – to buy back the company.
Tilman, who is known for employing a young Paul Smith and heading The British Fashion Council for five years, as Chairman, is credited by some for his notable input in British Fashion, but his reputation was put on the line after the demise of his clothing empire Jaeger in 2012.
Tilman blamed Lloyd’s and private equity firm boss Jon Moulton, owner of Better Capital for the fall. Although now may be the time that the former Jaeger chairman thinks what goes around comes around. As Moulton reels over massive losses due to City Link’s closure, which is owned by Better Capital, he was contacted by Moulton to discuss the possibility of taking back Jaeger.
Better Capital has invested £56m in Jaeger, which was put into administration after British brand Aqauscutum (bought by Tilman in 2009) couldn’t pay up the money it owed.
Tilman told The Times he had called Moulton and said he would get his corporate advisors “to write to him as regards to having a meeting to consider the opportunity.”
He blamed weak sales at the clothing retailer on Better Capital’s ownership and is understood to have said:
“I’m sitting around watching it slipping away. They don’t have the expertise to take over and run these specialised businesses” before adding “I know its DNA. I know the business inside out.”