Tell me the truth: Is it love or is it just business?
After saving it from insolvency eight years ago, Harold Tillman is putting Jaeger London back on the market. Just like that.
It's living by the age-old 'buy old, sell high' principle that has earned Harold Tillman the title of 'rag trade expert'. Having purchased heritage brand Jaeger London from entrepreneur Richard Thompson for a comparatively paltry sum, eight years ago, he's expected to make a killing from its resale. Jaeger London currently operates 46 outlets across the UK with a total annual turnover of £86 million - a far cry from the time of its acquisition, when it registered a loss of £12 million.From a fashion lovers standpoint, it's like watching a poor infant (albeit a 127 year old one) drifting from one foster home to another. But Tillman has put in place measures to ensure the deal gets done right; investment bankers Rothschild will handle Jaeger's strategic options and bids that have been actually made for acquisition of the business over the past month.
But Jaeger is already showing signs of strength without its knighted benefactor. Recently, the company signed a partnership agreement with a Russian luxury brand distributor, Jamil Company, to launch its
first outlets in Moscow.