Marks and Spencer (M&S) – the renowned British clothing giant – has finalised its Jaeger deal. That’s its first fashion acquisition in 17 years.
Back in 2004, M&S had bought Per Una from designer George Davis for £125 million.
The deal, which is expected to conclude by the end of January, does not include any of Jaeger’s stores and concessions.
Confirming on the deal, Richard Price, Head of Clothing and Home, M&S, said that it has bought the Jaeger brand and is in the final stages of buying products and supporting marketing assets from the administrators of Jaeger Retail Limited.
M&S is also set to buy company’s intellectual property from Dubai-based holding vehicle, which is owned by Philip Day – though there isn’t any confirmation on the same.
The transaction figures of the M&S-jaeger deal haven’t been disclosed as yet.
Meanwhile the other Philip day-owned brands like Edinburgh Woollen Mill (EWM) and Bonmarché too have been sold to global investment consortium Purepay Retail Limited.
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