Congratulation to Marks and Spencer as the company has bought upmarket fashion brand Jaeger out of administration in a £5m deal.
The High Street giant is taking on the Jaeger brand and stock which it will sell in M&S stores and online.
Jaeger was founded in 1884 – the same year as M&S – on the principles of Dr Gustav Jaeger. But it collapsed last autumn.
Upmarket: The deal is M&S’s first fashion acquisition since it bought Per Una from designer George Davies for £125m in 2004
Richard Price, head of M&S’s clothing and home business, said the acquisition was part of its plan to revive the struggling division.
‘In line with this, we have bought the Jaeger brand and are in the final stages of agreeing the purchase of product and supporting marketing assets from the administrators,’ he said.Pls SUBSCRIBE below to our Youtube channel and mailing list to get fresh updates on money making and inspiring videos and articles.