Philip Day, a retail billionaire, is expanding his clothing empire, adding Jacques Vert and some other brands that are coming from the collapsed Calvetron. It comes amid the news that the billionaire is reportedly interested in the assets of the House of Fraser.
According to Sky News, Day is anticipated some time this week to make an announcement regarding his acquisition of the Calvetron Brands, an entity which collapsed into administration last May.
The retail tycoon is understood to be acquired the clutch of brands, which also includes Precis, Eastex, and Windsmoor through an entity that is separate to his Edinburgh Woollen Mill Group business.
In 2017, Day acquired Jaeger, a fashion brand, in a similar process. Previously, he also acquired Austin Reed after the collapse of the business.
The most recent swoop of Day comes as he is speculated to be among the potential backers of House of Fraser, which is currently looking for new funding following the official cancellation of the stake acquisition of C.banner, its prospective owner.
A representative for Day refused to release a comment on the matter.
Today, some news also emerged that Jane Norman, the company that Day was able to acquire from an administration in 2011, is being mothballed effectively while the focus continues to be on brands that are more recently added to the retail empire.
A spokesperson for the group of Philip Day stated: “We put the Jane Norman brand on hold a number of months ago to focus our energy on newly acquired brands, such as Jaeger, Austin Reed and Viyella, which continue to go from strength to strength as we build our position in the luxury fashion market. The Jane Norman brand continues to be a part of our business and we will relaunch the brand in the future.”