The Jacques Vert Group, the mainstream womenswear retailer, is poised to axe several brands next year.
The group, which has 1,900 concessions and stores, is planning to slim down its portfolio to improve profitability, according to the Mail on Sunday. It is understood that -size brand Ann Harvey is one of those at risk. It also owns the Windsmoor, Kaliko and Precis brands.
Jacques Vert, which is owned by private equity firm Sun European Partners, has already merged casualwear brand Lazy Lu into better-known sister brand Kaliko.
A review of the business is expected to be completed by March. Sun acquired Jacques Vert last December and merged the business with Irisa Group, formerly Alexon Group, which it had bought three months earlier out of administration.
Last week, Retail-week.com revealed that Jacques Vert’s long-standing chief executive Paul Allen is to step down from the retailer, leaving it without a management team as deputy chief executive Jane McNally has also recently departed. It is understood that Allen will stay at the helm until a replacement is found.