11th Mar 2021 11:09
(Alliance News) - Ted Baker PLC on Thursday announced new territory licence deals in order to enhance digital and asset light growth.
The London-based luxury clothing retailer said it has extended its agreement with Al-Futtaim Group for retail, and new wholesale and e-commerce rights in the Middle East and Africa regions. This will be the company's first full omni-channel territory operated by a licence partner with complete integration of the retail, e-commerce and wholesale channels, further strengthening the brand in the regions. Al-Futtaim has operated the Ted Baker retail licence in the Middle East and Africa for 13 years.
Ted Baker also signed a 10-year agreement with lifestyle retailer PT Mitra Adiperkasa for a retail licence for the Indonesian market. Under the agreement, the duo have committed to a store and concession opening plan and will sell via selective online platforms in Indonesia. Ted Baker said this will build brand awareness in the Asian region, alongside its five other licence partners and its China joint venture.
"Having worked with the Al-Futtaim team for many years, we know they have an excellent understanding of Ted Baker and our customers. Al-Futtaim's experience also means that they are particularly well placed to fully realise the significant growth potential from the accelerating consumer shift to online channels in the region. PT Mitra Adiperkasa is the leading retail expert in Indonesia, and they have the right team and experience in place to build on the strong foundations that are already in place. It is a testament to the strength of our brand that we continue to partner with the leading experts in their relevant categories across the world," said Commercial & Business Development Director Helen Costello.
Shares in Ted Baker were up 1.0% at 127.00 pence in London on Thursday.
By Zoe Wickens; [email protected]
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