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Jaeger Eyes International Expansion

Luxury fashion brand Jaeger is planning to open more stores across Europe, the Middle East and North America, after reporting that annual earnings shot up 16%.

Luxury fashion brand Jaeger is planning to open more stores across Europe, the Middle East and North America, after reporting that annual earnings shot up 16%. In a move that is likely to create a number of new graduate retail jobs, the British company has outlined how it wants to increase its international footprint further. "Significant" expansion is being planned in key international markets and a new online platform is to be rolled out this autumn. Despite sales remaining flat at ??85.5 million, Jaeger reported underlying earnings of ??7 million in the year to February 28. But it said the group had seen a pick up in sales since the year-end, up 12% on a year ago. Jaeger now has 45 UK stores after opening another two outlets during the past financial year, in Merseyside's Liverpool One shopping centre and Milton Keynes, while it also added another 10 concessions in stores including Harvey Nichols. Belinda Earl, group chief executive of Jaeger, said: "Continued investment in Jaeger has delivered improved profit performance, despite last year's challenging economic environment." She added the increase in Jaeger's UK and international portfolios and the new online store "underpins our future growth". Openings are scheduled within the Nordstrom department store in the US and a second outlet in Dubai.
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