Jaeger has said it plans to more than triple its store estate in the next year as continues to undergo a revival under its new owner Edinburgh Woollen Mill Group (EWM).
According to Drapers, the fashion retailer – which was bought out of administration by Philip Day’s EWM last year – plans to expand its store estate from nine to 30 by the end of 2019.
After severely reducing its store estate from 46 in April last year following administration, the brand has been slowly rebuilding its presence in the UK, opening two stores in Lymington and Marlborough last month.
It is understood that Jaeger is planning to open another three stores by the end of the year, bringing its total to 11, before dramatically ramping up its expansion drive next year.
Alongside the ambitious plans for its standalone store estate, Jaeger is also understood to be in talks with partners to expand its concessions, currently trading from a total of 24 including in John Lewis.
“For our store strategy, we’ve looked at locations where Jaeger used to trade well in the past, as well as looking at new towns to find a new customer base,” EWM’s group development director Lauren Day told Drapers.
“It’s quite an aggressive strategy but they have to be the right stores in the right locations. We won’t open for the sake of it – at the end of the day, they have to be profitable.”
EWM, which has earned a reputation for purchasing struggling brands out of administration, is investing in the business and working to return it to its former glory, according to Jaeger and Austin Reed’s product designer Liza Canneford.
“It’s great having a family run the brand, they see the potential and the value of the business,” she said.
“Philip is a retailer and he understands product, which makes such a difference. He is as passionate as us about the business and wants to see it grow. We want to push forward now so it’s all hands on deck.”
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