Fashion brand Jaeger speculated to fetch $160 million

Chairman of British Fashion Council, Harold Tillman, may put up fashion brand Jaeger for sale after receiving several offers for the company.

The UK-based high-end fashion brand has always been associated with smart classic clothing and has over 90 stores and concessions globally.

The Sunday Times reported that the 126-year old brand could fetch up to $160 million (100 million pounds). The house was bought by Tillman in 2003 due to severe annual losses. At the time of purchase, a total loss of 12 million pounds was reported.

However, Tillman with the help of former Debenhams executive, Belinda Earl, worked to revive the brand. Today, the retailer has over 40 stores in the UK with major expansion plans in Russia and overseas.

The company has also introduced new segments such as accessories and perfumes to strengthen its client list and broaden its international base.