Jaeger’s private equity owner Better Capital will plough £7.5m into the premium fashion retailer to support its store network and online growth.

The cash injection will enable Jaeger to open more standalone stores, refurbish existing stores and develop its online business.

Jaeger currently operates from 63 stores and it is set to launch its new store format on London’s King’s Road this autumn.

Jaeger said the investment will support its five-year growth strategy launched in autumn last year, as the retailer returns the brand to its British heritage.

Jaeger said it is making “good progress” on its short-term aims to invest in online, re-introduce quality fabrics to its products, work with more UK manufacturers, increase marketing spend and refurbish stores.

The retailer has already established a UK sourcing team and invested in the group’s product development and marketing functions.

Jaeger chief executive Colin Henry said: “We have a clear strategic and creative vision to refocus Jaeger on its premium British heritage and re-establish the brand amongst its core UK customers.

“The business continues to trade strongly and this additional investment will allow us to accelerate the delivery of our strategy to realise the full potential of one of Britain’s most prestigious and cherished brands.”

Better Capital bought the retailer in 2012 after a period of difficult trading. The five-year strategy is expected to cost £25m.