Jaeger goes for the global image

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

Jaeger reported underlying earnings of 7m in the year to February 28, despite sales remaining flat at 85.5m.

But it said the group had seen a pick-up in sales since the year-end, up 12 per cent on a year ago.

Jaeger now has 45 UK stores after opening another two outlets during the past financial year, in Merseyside's Liverpool One shopping centre and Milton Keynes, while it also added another 10 concessions in stores including Harvey Nichols.

Belinda Earl, group chief executive of Jaeger, 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 the new online store "underpins our future growth".

The firm plans to open further stores across Europe, Middle East and North America, with openings scheduled within the Nordstrom department store 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.

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

He bought Jaeger seven years ago after a troubled time for the group, which saw the firm slump into the red with losses of 13m in 2003.

He appointed Ms Earl – the former chief executive of Debenhams – soon after taking over the firm and the duo have since helped revive its fortunes, branching out into new areas, such as accessories and fragrance.

They also launched the brand online to broaden its customer base and said the website accounts for 5 per cent of total sales, delivering to 29 countries.