Fashion icon Jaeger going for global growth

LUXURY fashion brand Jaeger is to increase its international footprint after reporting a 16 per cent hike in annual earnings.

The 126-year old business outlined plans for "significant" expansion in key international markets, while it also wants to launch a new online offering in the autumn.

It reported underlying earnings of 7 million for the year to 28 February, despite sales remaining flat at 85.5m. But the group said it had seen a pick- up in sales since the year-end, rising 12 per cent on a year earlier.

Chief executive Belinda Earl said: "Continued investment in Jaeger has delivered improved profit performance, despite last year's challenging economic environment."

She added the increase in Jaeger's UK and international portfolios and a new online store "underpins our future growth".

The firm plans to open further stores across Europe, the Middle East and North America, with openings scheduled within the Nordstrom department store business in the US and a second outlet in Dubai.

It is also launching a new womenswear range aimed at younger shoppers in the autumn, called Boutique by Jaeger.

The firm is owned by fashion entrepreneur and Allders department chain head Harold Tillman, who also snapped up iconic fashion brand Aquascutum last September.