20 hours ago | By Alice Gividen
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The retailer, which is owned by private equity firm Better Capital, is locked in talks with US luxury accessories brand Coach to sell its lease for about £5m. Jaeger has occupied the Regent Street store for the past 80 years.
The move comes following the departure of its chief executive Colin Henry, who was drafted in during 2013 to revive Jaeger’s fortunes.
Jaeger said: “We have stated in the past that our Regent Street store is too big for us so we wanted to relocate, and we continue to explore our options.”
Sources suggested Henry left the London-based brand after a difference of opinion with Better Capital.
It is understood the private equity firm believes 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 Jaeger.
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