Ted Baker has hired California-based consultants Korn Ferry to help it find a replacement for chairman David Bernstein, who is stepping down next year. It follows a series of scandals at the embattled fashion brand.
Ted Baker is boosting its licensed business further and has entered a global deal with Timex “to underpin its own global plans with a unique offering in watches that complements its apparel and accessory collections.”
Pentland Group may be expanding its footwear ops in deals with brands such as Karen Millen and Lacoste, but it’s losing its Ted Baker license as that company buys its UK and US footwear ops and takes them in-house.
Ted Baker's comp sales edged down in 2017 but an e-tail surge more than made up for that. And growth continued across the UK, Europe and North America, although recent snowstorms have dented the new year's trading.
Ted Baker enjoyed a “good retail performance” over the tough Christmas trading period with the company saying on Wednesday that the eight weeks to January saw retail sales rising 9%, or 10.5% at constant exchange rates.
October was clearly a tough time for Ted Baker but the business, which is one of the UK's most successful fashion retailers, overcame the challenges with an e-tail surge and continuing wholesale strength.
An e-commerce super-surge, higher womenswear sales, UK and European strength and a boost for US wholesale (despite that country's retail woes) have all helped drive Ted Baker to another set of powerful results.