Jaeger Bombs and Asos Booms
In our weekly look into the world of business, Eve Lakin from our corporate & commercial...Back to News and Events
In our weekly look into the world of business, Eve Lakin from our corporate & commercial department, takes a look at the online fashion industry…
Fashion brand Jaeger is tipped to enter administration after more than 100 years trading on the British high street.
The retailer was purchased for £19.5million in 2012 by private equity firm Better Capital but is expected to be sold again, this time to Edinburgh Woollen Mill (EWM) for an undisclosed sum. It is believed that EWM intends to close the majority of Jaeger’s twenty five stores and to instead focus on online sales.
The news is indicative of the general malaise on the high street with stiff competition from online retailers such as ASOS who this week reported a major hike in UK sales for the first half of the year.
The message is clear: retailers must invest in their online offering if they want to future-proof business.