Marks – Spencer needs Jaeger to buy out

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M&S is expected to purchase the brand and range of Jaeger, but not its many outlets, it reports,

Marks & Spencer is close to finalizing a deal to buy luxury fashion brand Jaeger with new names to boost its apparel business.

Since the company was placed in receivership in November, M&S has been linked to Jaeger. Jaeger is part of the troubled Edinburgh Woollen Mill Party of the entrepreneur Philip Day, which also includes Peacocks and Austin Reed.

In the 1880s, both M&S and Jaeger were established.

Last year, Steve Rowe, chief executive of M&S, revealed plans to add other brands to the portfolio to widen its apparel appeal.

M&S attempted to purchase the lingerie brand Victoria’s Secret in the UK, but struggled, and started selling Nobody’s Child eco-fashion label last year.

It is expected that M&S will buy the brand and inventory of Jaeger, but not its many stores, according to Sky News.

Jaeger dressed Audrey Hepburn and Marilyn Monroe in their heyday, but the company has suffered in recent years.

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