The Jacques Vert group, which has 11 fashion labels including Kaliko, Windsmoor and Precis, is set to axe several brands in the new year.
The group, which has 1,900 concessions and stores, is to rationalise its portfolio to improve profitability, according to the Mail on Sunday. It is understood that plus-size brand Ann Harvey is one of those at risk.
The mature fashion group, which is owned by private equity firm Sun European Partners, has already absorbed casualwear brand Lazy Lu into better-known sister brand Kaliko.
A review of the business is expected to be completed by March. Sun acquired Jacques Vert last December and merged the business with Irisa Group, formerly Alexon Group, which it had bought three months earlier out of administration.
Last week, Retail-week.com revealed that Jacques Vert’s long-standing chief executive Paul Allen is to step down from the retailer, leaving it without a management team as deputy chief executive Jane McNally has also recently departed. It is understood that Allen will stay at the helm until a replacement is found.
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