Expect a radical new look to Marks & Spencer’s women's fashion line-up this spring. The UK retail giant is understood to have struck deals with four independent womenswear brands to bolster sales, particularly online.
M&S’s deal to buy Jaeger completed on Friday and the administrators to the heritage brand have confirmed that all 63 standalone stores and the label’s concessions will not reopen after the current UK lockdown ends.
M&S has confirmed that it has bought the Jaeger brand, which had been part of Philip Day’s fashion retail empire. But while the firm is taking over the brand, it’s not buying the label’s store chain and its concessions.
Fashion, beauty and home retail giant Next reached a milestone on Wednesday as its shares rose and its market capitalisation topped £10 billion. It also has the opportunity to capitalise on the Debenhams collapse.
M&S is reportedly close to a deal to buy Jaeger, which is part of Philip Day’s failed Edinburgh Woollen Mill Group. But while it’s believed to be taking on the brand and its stock, the stores aren’t part of the deal.