The chief executive of Jaeger today said the luxury British brand was back in fashion after bucking the gloom on the high street to report a 22 per cent rise in annual underlying profits.

The brand has bounced back through new, younger ranges such as Jaeger London. Sales of a star shirt soared in the run-up to Christmas after Kate Moss was pictured wearing one at the launch of her haircare range in October.

Belinda Earl, who joined Jaeger from Debenhams four years ago, said the management team was only one-third of the way through its recovery programme but was “delighted” with the progress so far.

Sales rose 16 per cent to £82.2 million in the year to February 23. Earnings climbed 22 per cent to £6.1 million.

The British Retail Consortium today said that clothing and footwear retailers on the high street suffered their worst month for eight years in April.

Ms Earl said: “Consumers are being more cautious and discerning but they will spend when they feel the quality and style is absolutely right.

“We are delighted with the past year but there are still customers out there we need to attract back to Jaeger. We are only a third of the way along the journey.”

Jaeger, which can trace its roots back to 1884, was written off as a has-been in the 1990s. Howard Tillman, the fashion entrepreneur, bought the business in 2003 and brought in a new management team headed by Ms Earl.

Many of the new designs are based on those that proved a hit for Jaeger in the 1960s. Ms Earl has also tried to increase the amount of accessories sold in Jaeger’s stores.

Around 15 per cent of the total sales in the past year come from handbags and shoes.

Jaeger today said it would open 30 new stores over the coming year in the UK and overseas. Its first store in Kuwait opened yesterday under a partnership with the Speciality Fashion Group, run by Neil Parker, the former Austin Reed director, that will see eight stores open across the Middle East.

Ms Earl said: "Looking ahead, we have another important year with continued investment in our store portfolio through openings, refits and entering new markets."

Jaeger has 132 shops in Britain and operates in a further 15 countries. Ms Earl owns around 20 percent of the business, while Mr Tillman owns some 70 percent.

Ms Earl said the group would also target Russia, China and India.

Times Recommends

• Lloyds TSB wins vote for HBOS merger
• Bank of England discussed 2% rate cut
• Woolworths dives as it confirms takeover talks