Currently owned by Philip Day’s Edinburgh Woollen Mill Group, Marks and Spencer hopes to acquire the brand as soon as this week.
A year of uncertainty and disruption for the retail sector in 2020 saw Edinburgh Woollen Mill placed into administration in November. Now, British high-street giant Marks & Spencer is looking to acquire the Jaeger brand. The acquisition is not set to include the chain’s stores which have already been slashed to 63.
The news comes ahead of Marks & Spencer revealing their Christmas trading report which is expected to come on Friday. The brand is expected to report strong sales in their food and drink sector, owed to the festive period being impacted by Covid-19 restrictions across the UK. The move to acquire Jaeger would fit with Marks & Spencer’s new strategy to sell third-party brands.
It is also thought that Marks & Spencer are currently in the running to acquire some of the Arcadia Group’s brands.
