Frasers Group, led by Mike Ashley, is reportedly considering making a bid for struggling brand Jaeger, as well as other struggling brands including Debenhams, Austin Reed, and Jacques Vert. These brands are currently owned by Edinburgh Woollen Mill (EWM), which is under the control of retail billionaire Philip Day. Despite the long-standing rivalry between Ashley and Day, the acquisition of Jaeger and the other labels may complement Frasers Group’s collection of high-end brands.

There are other potential buyers interested in Jaeger as well. Harold Tillman, the former owner of Jaeger, is said to be interested in buying back the label. Torque Brands, the owner of TM Lewin, has also expressed interest in acquiring Jaeger. The sale of Jaeger has been prompted by EWM’s struggle to survive during the unprecedented downturn caused by the pandemic. EWM recently obtained a 10-day extension of its protected period, but if a deal cannot be reached before the extension expires, it is likely that the company will go into administration, putting approximately 20,000 jobs at risk. This could potentially be one of the largest business failures in the UK due to the pandemic thus far.

Frasers Group, under the leadership of Mike Ashley, has been actively acquiring distressed brands in the UK. Their interest in Jaeger and the other mentioned brands demonstrates their desire to expand their portfolio and diversify their retail offerings. With their established presence in the market and available resources, Frasers Group has the potential to revitalize these struggling brands and give them a more promising future.

The fashion industry has faced significant challenges this year due to the global health crisis, and many retailers have struggled to stay afloat. Acquiring struggling brands such as Jaeger enables companies like Frasers Group to leverage their expertise and resources to turn them around. This not only benefits the companies involved but also preserves jobs and contributes to the overall stability of the retail sector.

As the future of Jaeger and the other brands hangs in the balance, it remains to be seen which potential buyer will emerge as the victor. The outcome of these potential acquisitions will have a significant impact on the retail landscape in the UK. Whether it is Frasers Group, Harold Tillman, or another interested party, the eventual buyer will need to navigate the challenges posed by the current market and implement effective strategies to ensure the successful revival of these heritage brands.

Overall, the interest in Jaeger from Frasers Group and other potential buyers reflects the ongoing consolidation within the fashion industry. While the pandemic has undoubtedly contributed to these struggles, it has also presented opportunities for companies to acquire distressed brands and shape the future of the retail landscape. As the sector continues to evolve and adapt to the new demands of consumers, it is likely that more acquisitions and collaborations will take place, ultimately reshaping the industry for years to come.

Useful links:
1. The Guardian – Suspicions of abuses at National Galleries raised by international union
2. BBC News – UK home secretary urged to stop knife crime using ‘Covid lessons’