Jaeger unveils £8m loss as its new owner focuses on international and multichannel growth

The premium retailer made a £1.6m profit the prior year. Including exceptionals, the retailer made a £35.5m loss during the year.

Jaeger sales dipped 7.5% to £85.5m over the period and at an EBITDA level, it made a loss of £2.7m against a £6.2m profit in 2011.

The fashion chain was acquired by Better Capital in April 2012 and it is now debt-free with significant funding committed to the business.

Since Better Capital acquired Jaeger it has undertaken a full operational review in order to stabilise the business.

It has reduced its cost base and is seeking new international franchise partners in Asia and the Middle East. It has hired an international business director to spearhead its overseas ambitions.

Jaeger executive chairman Stewart Binnie said: “It is increasingly apparent that there is a huge opportunity for the Jaeger brand internationally.”

Binnie said that trading in September and October had “exceeded expectations”, particularly in womenswear which it has traded at full price since the end of its summer Sale.

The fashion chain has hired former head of design at Burberry London Collette Brown as its head of womenswear design.

Jaeger is redeveloping its Regent Street flagship, which will complete next spring, in which it will house new brands. The retailer is investing in multichannel with its website is set to relaunch in spring next year.

Binnie said he was confident Jaeger would have a good Christmas despite the “very tough” economic environment.

Retail Week revealed last month that former owner and non-executive chairman Harold Tillman has exited the upmarket fashion retailer.