Tillman 'puts Jaeger up for sale'

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Harold Tillman is reported to have put Jaeger up for sale

Fashion entrepreneur Harold Tillman is reported to have put Jaeger up for sale after receiving several approaches for the company he saved from collapse.

City sources told the Sunday Times that the 126-year-old business could fetch £100 million after its transformation into a label with 46 UK shops.

Mr Tillman bought the firm for a token amount in 2003 when its annual losses stood at £12 million. Last year it achieved earnings of £7 million on sales of £86 million and said it planned to increase its international footprint.

The entrepreneur, who is chairman of the British Fashion Council, appointed Belinda Earl, the former chief executive of Debenhams, soon after taking over the firm and they have since helped revive its fortunes.

As well as branching out into new areas, such as accessories and fragrance, they have also launched the brand online to broaden its customer base. In 2009, Mr Tillman bought luxury label Aquascutum.

According to the report, he has appointed investment bank Rothschild to consider the firm’s strategic options, including an outright sale.

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