Marks & Spencer said to be considering an offer for Jaeger and Austin Reed

Marks & Spencer said to be considering an offer for Jaeger and Austin Reed.
Marks & Spencer is thought to be in ‘pole position’ to buy Jaeger, Austin Reed and Jacques Vert.
// M&S directors said to be looking into snapping up trio of brands from Philip Day
// Reports come after Jaeger makes cuts to store and staff numbers in wake of administration

Marks & Spencer directors are looking into the possibility of buying Jaeger, Austin Reed and Jacques Vert according to the Mail on Sunday.

The discussions are understood to have involved buying the trio of brands from parent company Edinburgh Woollen Mill owner Philip Day.

Jaeger fell into administration earlier this month, and last week said it would cut 103 jobs and close 12 of its stores as administrators continued to search for a buyer.


READ MORE:


The womenswear brand will see its store estate reduced to 63 outlets and concessions, with 244 remaining staff members.

Marks & Spencer is understood to be in ‘pole position’ to buy Jaeger, Austin Reed and Jacques Vert, according to the Mail on Sunday, who cited City sources.

Rival Next and retail mogul Mike Ashley are also thought to be potential buyers.

Earlier this month reports emerged that Marks & Spencer could consider acquiring the heritage brands, after M&S reportedly held talks about stocking Jaeger products in its stores as part of its own clothing strategy overhaul.

According to This is Money, these discussions developed into informal talks about a possible acquisition of Jaeger.

M&S said at the time there was “no formal process” linked to purchasing Jaeger.

It’s not the first time M&S has been linked to acquiring Jaeger.

The department store retailer had the opportunity to take over Jaeger a few years ago but Philip Day’s Edinburgh Woollen Mill Group beat them to the race instead.

Click here to sign up to Retail Gazette’s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here