After serving as the Chief Executive for two years, Colin Henry has stepped down from his position at Better Capital-owned fashion retailer Jaeger. A couple of months ago, the company’s chairman Peter Williams had also announced his resignation.
Henry earlier served as chief product officer at Esprit and held product roles at Ralph Lauren as well as sportswear giants Umbro and Nike. In a statement, he said, “I have enjoyed the challenge of the Jaeger turnaround and feel that now is the right time to move on to a new opportunity.”
The development comes after Jaeger reduced its pre-tax losses from 12.6 million pounds (19.4 million dollars) to 9.9 million pounds (15.2 million dollars) in the year ending March 1 2014. The company reported a 12 percent rise in sales during the period under review and its like-for-like sales also grew 10 percent during the same period and 8 percent during the 2014/15 financial year. Jaeger has 56 standalone stores and around 70 concessions.
The firm was established in 1884 and designs and retails men’s wear as well as its traditional women’s wear range.