Jaeger appoints former Esprit chief product officer Colin Henry as new chief executive

Henry starts his role on July 15 as attempts to turnaround the business and spur the international growth of the business, which is owned by private equity vehicle Better Capital.

Binnie left the retailer in March after less than a year at the retailer. He was brought in to lead the business after Better Capital bought it from former majority shareholder Harold Tillman in June last year.

Better Capital head of portfolio Nick Sanders said: “I am delighted that Colin is joining as chief executive of Jaeger and on behalf of the whole team, I would like to warmly welcome him to the business.

“Over the last year, we have placed Jaeger on a positive trajectory and the business is now looking in good shape; I look forward to Colin building on this momentum in the coming months. His wealth of knowledge and experience of the retail sector, along with his strategic insight and creativity, will be invaluable in helping Jaeger to deliver its full international growth potential.”

Henry worked at Esprit for two years before leaving in August last year. Prior to this he worked at sportswear brand Umbro as its senior vice-president of global product, design and merchandising before it was acquired by Nike in 2007.

Henry was responsible for overseeing the integration of Umbro into Nike, its new product strategy and the respositioning of the brand.

Henry said: “I am excited about joining Jaeger given it is such an iconic British retail brand with a strong heritage.

“I am enthused about getting involved with the business next month as I strongly believe it has a lot of potential, both in the UK and internationally. I look forward to working closely with Better Capital and helping to continue the good progress made since it acquired the business over a year ago.”

It is understood Henry was placed in the role by Fran Minogue at headhunter Clarity Search.

Jaeger suffered the departure of its long-serving finance director Graham Edgerton last month, ending a 10-year tenure at the retailer.