LONDON — Jaeger said it has received an additional 7.5 million pounds, or $12.4 million, of investment from its private equity owner Better Capital.
The British clothing firm said the investment would support projects such as the opening of freestanding stores, refurbishment of existing stores, and the development of the group’s online business.
“We have a clear strategic and creative vision to refocus Jaeger on its premium British heritage, and re-establish the brand among its core U.K. customers,” said the company’s chief executive officer, Colin Henry. “The business continues to trade strongly and this additional investment will allow us to accelerate the delivery of our strategy.”
The company said the short-term strategic focus remains on building the U.K. business, investing in online, re-introducing premium quality fabrics, working with more U.K. manufacturers, increasing marketing spend, and refurbishing stores. Jaeger’s first new concept store on London’s King’s Road is to launch in the autumn.