21 hours ago | By WGSN Insider
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Sep 14, 2015
By WGSN Insider
Tough times ahead for upscale fashion brand Jaeger. The London-based retailer has seen its chief executive Colin Henry’s depart after two years, according to reports.
The move comes ahead of the crucial Christmas trading period, with owner Better Capital set to confirm his departure alongside the appointment of business consultancy AlixPartners to lead the ongoing recovery.
According to The Times, Henry had taken an indeterminate “leave of absence”.
He was hired in 2013 to return Jaeger to profit and was halfway through a five-year turnaround plan.
In a statement seen by the newspaper, Henry said that he had “enjoyed the challenge” at Jaeger but felt now was the “right time to move on to new opportunities”.
Sources suggested that Henry had left after a difference of opinion with Better Capital.
It is understood that the private equity firm believes that the best route to revive Jaeger’s fortunes is to drive it into the more mass-market end of the high street. Henry is understood to have argued this could dilute the upmarket quality of the brand.
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