TIDMTED
RNS Number : 2453J
Ted Baker PLC
16 August 2019
16 August 2019
Ted Baker Plc
("Ted Baker" or the "Company")
Appointment of Next Plc as new Childrenswear Licence Partner
Ted Baker, the global lifestyle brand, is pleased to announce
that on 15 August 2019, it entered into a new product licence
agreement with Next Plc ("Next") to accelerate the expansion of Ted
Baker's childrenswear collections. Under the agreement, which will
run for an initial five-year period, Next will create and sell Ted
Baker childrenswear products spanning baby, boys' and girls'
clothing, shoes and accessories in collaboration with the creative
team at Ted Baker. The new collections will launch in Spring 2020
and will be sold through Next's retail channels and wholesale
relationships as well as through Ted Baker's websites.
The Company's current childrenswear product relationship with
Debenhams will end on 29 February 2020. The Company retains an
established and mutually profitable relationship with Debenhams
which remains a Licence Partner for lingerie and nightwear.
Ted Baker does not anticipate a material financial impact from
this agreement in the current financial year nor in the 2020/21
financial year.
Commenting, Lindsay Page, Chief Executive Officer of Ted Baker,
said:
"We are delighted to announce this exciting product licence with
Next to support the continued expansion of Ted Baker's growing
childrenswear collections.
Product licensing is a proven and highly successful pillar of
Ted Baker's strategy to expand as a global lifestyle brand. It
enables us to carefully develop the brand in new, relevant
categories by leveraging the specialist product expertise of our
carefully selected partners.
I would like to take this opportunity to thank Debenhams for
their skill and hard work in establishing and developing the Ted
Baker childrenswear business and we will continue to work with them
in other product categories.
Our childrenswear collections - which are small in size but big
in style - have already proven incredibly popular with Ted Baker
customers. As a multi-channel retailer with global capabilities and
wholesale experience, Next is the outstanding partner to take Ted
Baker forward in this category, which we believe will deliver
significant growth in the coming years."
Commenting, Simon Wolfson, Chief Executive Officer of Next,
said:
"We are thrilled to have the opportunity to help build and
develop the Ted Baker children's business across the globe. We have
worked with Ted Baker for a number of years through Label and
recognise the power of their brand."
Enquires:
Ted Baker Plc
Lindsay Page, Chief Executive Officer Tel: + 44 (0) 20 7255
4800
Charles Anderson, Finance Director & Company Secretary
Phil Clark, Commercial Director
Hudson Sandler LLP (public relations) Tel: +44 (0) 20 7796
4133
Alex Brennan / Hattie O'Reilly / Nick Moore
tedbaker@hudsonsandler.com
Media images available for download at:
http://www.tedbakerplc.com/ted/en/mediacentre/imagelibrary
Notes to Editors
Ted Baker Plc - "No Ordinary Designer Label"
Ted Baker is a global lifestyle brand distributing across five
continents through its three main distribution channels: retail
(including e-commerce); wholesale; and licensing.
Ted Baker has 560 stores and concessions worldwide, comprised of
201 in the UK, 122 in Europe, 130 in North America, 98 in the
Middle East, Africa and Asia, and 9 in Australasia.
We offer a wide range of collections including Menswear;
Womenswear; Global; Phormal; Endurance; Colour By Numbers;
Accessories; Bedding; Childrenswear; Eyewear; Footwear; Fragrance
and Skinwear; Gifting and Stationery; Jewellery; Lingerie and
Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories;
and Watches.
Development of the Brand
Our strategy is to enhance our position as a global lifestyle
brand by the continuous development of three main elements of our
business model:
-- Considered extension of the Ted Baker collections to achieve
our brand growth potential. We review our collections continually
to ensure we anticipate and react to trends and meet our customers'
expectations. In addition, we look for opportunities to extend the
breadth of our collections and enhance our offer;
-- Controlled distribution through three main channels: retail
(including concessions and e-commerce); wholesale; and licensing.
We consider each new opportunity to ensure it is right for the
brand and will deliver margin-led growth; and
-- Carefully managed development of existing and new
international markets. We continue to manage growth in existing
territories while considering new territories for expansion.
Underlying our strategy is an emphasis on design, product
quality and attention to detail, delivered by the passion,
commitment and dedication of our teams, licence partners and
wholesale customers.
Cautionary statement regarding forward-looking statements
This announcement contains certain forward-looking statements.
These forward-looking statements include matters that are not
historical facts or are statements regarding the Group's
intentions, beliefs or current expectations concerning, among other
things, the Group's results of operations, financial condition,
liquidity, prospects, growth, strategies, and the industries in
which the Group operates.
Forward-looking statements are based on the information
available to the Directors at the time of preparation of this
announcement, and will not be updated. The Directors can give no
assurance that these expectations will prove to have been correct.
Due to inherent uncertainties, including both economic and business
risk factors underlying such forward-looking information, actual
results may differ materially from those expressed or implied by
these forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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