Jacques Vert owner mulls options as UK clothing market challenges mount
The owner of Jacques Vert, Windsmoor, Eastex, Precis and Dash is looking at options for its business as the company faces ever-more-challenging conditions on the UK high street, according to news reports.
Style Group Brands, which was created from the merger of Jacques Vert and Irisa Group, is owned by private equity firm Sun European Partners. It is believed to have called in KPMG to look at its options, including a sale or a restructuring, Sky News reported.
Fashion Network contacted the company for comment but has not heard back at time of publication.
Any move by the company would certainly have an impact on UK department stores, as well as on stores in Europe and Canada with the firm’s brands being available in over 470 locations across those regions.
The review is reported to still be at a very early stage with sources telling Sky News that intense competition in UK fashion retail is behind the move.
In its domestic market, Style trades from concessions in Debenhams and House of Fraser and also sells online through John Lewis. Sources suggested it could cut back on the number of outlets if it was sold.
The company has looked closely at its brands in recent years and has worked hard to differentiate each as the classic occasion and daywear customer evolves, with strong product now coming through as a result.
But there are also challenges as its core customer ages and on-trend challengers such as Whistles, Jigsaw, Coast, Phase Eight and Joules win market share.
A fashion analyst, speaking on condition of anonymity, told Fashion Network: “If executed well and if they had a Mint Velvet-style casual brand they could own the 45-plus market and also give Next a run for its money.”
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