Retail News CRM

Tag: Ted Baker

  • Ted Baker appoints new Indonesian distributor

    Ted Baker appoints new Indonesian distributor

    The MENA deal is actually an extension to the current retail agreement Ted Baker has with Al-Futtaim Group but adds in new e-commerce and wholesale rights for the region. The all-new 10-year Indonesia dealx has been signed with PT Mitra Adiperkasa (MAP) for the retail license.

    The fellow-10-year Al-Futtaim agreement now means MENA will be Ted Baker’s first full omnichannel territory operated by a license partner. The complete integrated package across retail, digital and wholesale channels “is a key pillar of the group’s three-year transformation plan… which is designed to deliver a more profitable, more cash generative and higher return on capital employed business”, Ted Baker said.

    Al-Futtaim currently operates 24 Ted Baker stores and concessions across Bahrain, Egypt, Qatar, Saudi Arabia, and UAE. The addition of e-commerce and wholesale rights will aim to further strengthen the customer experience of the brand in the region, they said. Specific benefits to customers will include alignment of pricing and promotions across channels, and an improved e-commerce proposition with shorter delivery times, and ship-from-store and click-and-collect services.

    Meanwhile, under the terms of its retail and selective digital rights agreement, MAP has “committed to an ambitious store and concession opening plan and will sell via selective online platforms in Indonesia”. This expanded distribution will build brand awareness in the Asian region alongside the five other license partners and the group’s China JV, Ted Baker noted.

    Following these new license agreements, Ted Baker will have 17 retail license partners and 20 product license partners across the globe.

    Helen Costello, Group Commercial and Business Development Director at Ted Baker, said: “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 realize the significant growth potential from the accelerating consumer shift to online channels in the region”.

    She added: “MAP 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”.

    Lees ook:

  • Ted Baker plots new heading after hefty loss

    Ted Baker plots new heading after hefty loss

    British lifestyle brand Ted Baker is seeking to raise £95 million to strengthen its balance sheet in the wake of the Covid-19 pandemic and fund a strategy for expansion dubbed ‘Ted’s Formula for Growth’.

    The plan was revealed along with its results for the year to January 25 during which global sales slipped 1.4 percent to £630.5 million, which the company attributed to discounting to remain competitive against its rivals.

    Wholesale revenue rose by 9.6 percent on the back of expansion into footwear, without which it would have slipped 3.7 percent on a like-for-like basis. Store sales were down by 5.3 percent and licensing revenue down 14.1 percent.

    Recently appointed CEO Rachel Osborne says the new strategy and recapitalization plan will strengthen the company as it rides out the Covid-19 crisis which has had significantly more impact on global retailing since Ted Baker’s financial year closed. Revenue was down 36 percent during the 14 weeks from January 26 to May 2 as stores were shut down in many parts of the world.

    “The Ted Baker brand is much loved, it has a unique personality and character built up over many decades, and that provides us with a remarkably strong foundation from which to continue our international growth,” said Osborne.

    “Over the past six months, our new executive team has pulled together and undertaken a thorough review of the business, identified key opportunities, and acted decisively in a number of areas. I am confident that our transformation plan will enable us to capitalize on our opportunities and deliver value for all of our shareholders.”

    Ted Baker reported a loss of £79.9 million for the year, a significant turnaround from a £30.7 million profit for the year prior. The company said the deficit was due to £84.6 million of non-underlying expenses, mainly an inventory write-down, store asset impairments, and a £7.6 million loss related to the sale of the Asian business.

    The strategy Osborne will now lead, Ted’s Formula for Growth, will focus on making the most of the company’s strong brand, its diversified channel footprint, (retail, wholesale and license channels; multiple product categories and geographic spread), combined with substantial investments during the past five years in IT, CRM, logistics, and infrastructure.

    The company will focus first on stabilizing the foundations of the current business, which has been disrupted in recent months by multiple executive changes, driving growth, and achieving operational excellence.

    The company wants to re-energize the brand, increase engagement, and encourage more people to consider purchasing the brand. It seeks to attract more customers and “gain a higher share of wallet and lifetime value through deeper and broader relationships with new and existing customers” using technology to increase customer acquisition and retention, and increase conversion online.

    The company wants to expand its product range and relevance to make clothing more relevant to all-day occasions, and drive accessories, footwear, and large license partner categories.

    In an outlook note, the company said it plans to cut the number of its suppliers from more than 150 to 100, reduce its stock cycle from three years to two, and reduce staff costs at both head office and in stores.

    By 2023, Ted Baker expects to achieve sales growth of around 5 percent and a pretax earnings margin of between 7 and 10 percent.

    Emily Salter, retail analyst at GlobalData, said that although Ted Baker’s sales are likely to start improving in the next few weeks as stores across Europe start to re-open, recovery will be slow for it as many consumers will be unwilling to return to shopping locations and economic uncertainty will be high, reducing the propensity to spend on premium brands.

    “Prior to the onset of Covid-19, Ted Baker’s sales were suffering as the appeal of the brand was waning as it struggled to resonate with shoppers, with the store and online revenue falling by 5.3 percent and 2.4 percent respectively for the year to February. Although the retailer blamed discounting for this decline, the fact that it was unable to drive growth online points to problems with the relevance of the brand.

    “It now has a permanent CEO and CFO to help address these issues but turning the business around will not be an easy feat as consumer shopping habits are likely to change in the long term due to Covid-19, with shoppers purchasing less frequently and increased spend shifting online,” she said.

    Lees ook:

  • Ted Baker CEO and chairman quit as sales plunge

    Ted Baker CEO and chairman quit as sales plunge

    The CEO and executive chairman of UK fashion retailer Ted Baker have quit in the wake of falling sales and a controversy over the valuation of inventory.

    The company yesterday reduced its profit forecast for the current year to a minimum pre-tax profit of £5 million, 90 percent less than the £50.9 million it achieved in the year to March.

    That prompted a 15-per-cent drop in its already decimated share price. The company blamed a lack of consumer demand for its products, despite heavy discounting.

    The fashion company’s woes began a year ago when its founder Ray Kelvin was forced to resign after denying allegations he harassed staff and forced them to hug him, prompting an 80-per-cent plunge in the company’s share price.

    CEO Lindsay Page, a 21-year veteran at Ted Baker assumed leadership after Kelvin’s departure, lasting just nine months at the helm before yesterday’s resignation. Chairman David Bernstein followed suit.

    Last month, Ted Baker appointed external consultants to assess its inventory value after an apparent overstatement of stock in the company’s books in the range of £20 to £25 million.

    Some commentators in the UK say the company may be forced to take Kelvin back to restore the company’s fortunes. He still owns 35 percent of the business.

    Emily Salter, retail analyst at GlobalData, said the departure of the key executives and the profit warning “demonstrate the severity of its poor trading performance and how the retailer is grappling to remain popular”.

    “After an already turbulent year for its leadership team, the acting CEO and acting chair of the board must ensure that stability is maintained in the crucial Christmas trading period, as well as dealing with the impact of the overstatement of stock,” she said.

    “Trading over November and Black Friday was below expectations with lower-than-anticipated margins as consumers were still not persuaded to purchase despite the brand offering a blanket 30 percent off all items. Ted Baker must address its waning popularity, by attracting back its loyal shoppers and innovating instore and online to make the shopping experience more exciting.”

    Salter said while Ted Baker had previously been able to rely upon its online channel to drive group revenue growth with a robust multichannel proposition, its online sales fell by 0.7 percent.

    “Although its digital channels still outperformed retail revenue, declining sales while the online clothing-and-footwear market continues to grow proves just how strong the effects of weakened consumer confidence and demand for the brand have been, as well as the fallout from negative press coverage surrounding Ray Kelvin.

    “It will be a long road to recovery for Ted Baker, and it must focus on reviving previous demand for the brand and reducing its reliance on discounting to boost sales,” Salter concluded.’

    Lees ook:

    Lees ook:

  • Asia cited as Ted Baker swings to a loss

    Asia cited as Ted Baker swings to a loss

    UK fashion house Ted Baker has slumped into the red in the first half of the year, its position not helped by a 15.2-per-cent fall in sales in Asia.

    Global revenue was down by a more modest 0.7 percent (or by 2.5 percent in constant currency) to £303.8 million, but pre-tax profit turned from a £25 million surplus in the first half of last year to a loss of £2.7 million. The company took a £11.8 million one-off hit on the restructure of its Asian business, where it has appointed partners in Greater China and Japan, and £3.5 million relating to the purchase of a footwear business in January.

    Sales in Asia were £9.5 million and sales per square foot excluding e-commerce sales decreased by 4.6 percent.

    E-commerce concession businesses in China and Japan delivered sales of £1.4 million, down from £1.7 million, which represented 14.7 percent of Ted Baker’s Asian sales.

    Licensed stores across Asia continued to perform well with existing license partners in Thailand, Singapore and India opening new stores. However, in Indonesia and South Korea, several partner stores were closed.

    Despite the loss, Ted Baker is optimistic about its future prospects, saying its Autumn/Winter collections have been well received and that it is excited about new product initiatives including monthly product drops and speed to market developments.

    “Despite the structural challenges and cyclical pressures on the industry, we remain confident in Ted Baker’s ability to navigate the market and further develop as a global lifestyle brand,” the company said in a results statement. “This confidence remains underpinned by the group’s flexible, omnichannel model, the continuing strength of the brand, and the skill, passion and commitment of our talented teams worldwide.

    “We are continuing to pro-actively manage the significant challenges impacting our sector including weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce. However, we are not immune to these pressures which have impacted our financial performance during the first half of the year.”

    Emily Salter, retail analyst at GlobalData, said it was worrying that Ted Baker’s online sales had declined given its strong multichannel proposition.

    “The retailer can therefore not solely blame the troubles of the physical high street for its fall from grace, as it has previously performed strongly online even as retail revenue growth became more subdued. This points to more significant problems with demand for the brand and the impacts of regular discounting.”

    Salter says that for Ted Baker to be able to revive itself without its founder and former leader playing a key role, it needs to re-establish its brand identity, retain its loyal shopper base and reduce its reliance on discounting.

    “The retailer should take the opportunity to poach Karen Millen and Coast shoppers who are reluctant to purchase online, as the premium brands’ stores and concessions are now closed as a result of the acquisition by the Boohoo group. Ted Baker should review its sales channels, as it sells through department store retailers and online pureplays, leaving it exposed to the troubles of players such as House of Fraser and Debenhams. Moving its childrenswear license from Debenhams to Next in Spring 2020 will help to address this as Next’s leading online platform will be able to generate much stronger growth than the embattled department store,” she said.

     

    Lees ook:

  • Asia cited as Ted Baker heads to a loss

    Asia cited as Ted Baker heads to a loss

    UK fashion house Ted Baker has slumped into the red in the first half of the year, its position not helped by a 15.2-per-cent fall in sales in Asia.

    Global revenue was down by a more modest 0.7 percent (or by 2.5 percent in constant currency) to £303.8 million, but pre-tax profit turned from a £25 million surplus in the first half of last year to a loss of £2.7 million. The company took a £11.8 million one-off hit on the restructure of its Asian business, where it has appointed partners in Greater China and Japan, and £3.5 million relating to the purchase of a footwear business in January.

    Sales in Asia were £9.5 million and sales per square foot excluding e-commerce sales decreased by 4.6 percent.

    E-commerce concession businesses in China and Japan delivered sales of £1.4 million, down from £1.7 million, which represented 14.7 percent of Ted Baker’s Asian sales.

    Licensed stores across Asia continued to perform well with existing licence partners in Thailand, Singapore and India opening new stores. However, in Indonesia and South Korea, several partner stores were closed.

    Despite the loss, Ted Baker is optimistic about its future prospects, saying its Autumn/Winter collections have been well received and that it is excited about new product initiatives including monthly product drops and speed to market developments.

    “Despite the structural challenges and cyclical pressures on the industry, we remain confident in Ted Baker’s ability to navigate the market and further develop as a global lifestyle brand,” the company said in a results statement. “This confidence remains underpinned by the group’s flexible, omni-channel model, the continuing strength of the brand, and the skill, passion and commitment of our talented teams worldwide.

    “We are continuing to pro-actively manage the significant challenges impacting our sector including weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce. However, we are not immune to these pressures which have impacted our financial performance during the first half of the year.”

    Emily Salter, retail analyst at GlobalData, said it was worrying that Ted Baker’s online sales had declined given its strong multichannel proposition.

    “The retailer can therefore not solely blame the troubles of the physical high street for its fall from grace, as it has previously performed strongly online even as retail revenue growth became more subdued. This points to more significant problems with demand for the brand and the impacts of regular discounting.”

    Salter says that for Ted Baker to be able to revive itself without its founder and former leader playing a key role, it needs to re-establish its brand identity, retain its loyal shopper base and reduce its reliance on discounting.

    “The retailer should take the opportunity to poach Karen Millen and Coast shoppers who are reluctant to purchase online, as the premium brands’ stores and concessions are now closed as a result of the acquisition by the Boohoo group. Ted Baker should review its sales channels, as it sells through department store retailers and online pureplays, leaving it exposed to the troubles of players such as House of Fraser and Debenhams. Moving its childrenswear license from Debenhams to Next in Spring 2020 will help to address this as Next’s leading online platform will be able to generate much stronger growth than the embattled department store,” she said.

    Lees ook:

  • Ted Baker appoints Sojitz Infinity as its partner for Japan

    Ted Baker appoints Sojitz Infinity as its partner for Japan

    Lifestyle fashion brand Ted Baker has signed an exclusive retail license deal for Japan with local apparel manufacturer and distributor Sojitz Infinity, initially for five years.

    Sojitz Infinity will drive the long-term expansion of the Ted Baker brand in the region, combining its local expertise – especially within the department store sector – with the buying, merchandising and brand-building expertise of Ted Baker.

    The licence, expected to commence on October 1, marks Ted Baker’s 17th retail license partner globally.

    Over recent years, the firm has invested in introducing and developing the Ted Baker brand in the Japanese market, having opened five stores in the territory to date. Sojitz Infinity intends to build on Ted Baker’s existing store portfolio, expanding the concession network and investing in Ted Baker’s online presence.

    The deal will kick off the brand’s next growth phase in Japan, said Ted Baker CEO Lindsay Page. “Over recent years, we have invested in introducing Ted Baker to Japanese customers and we are confident that our new Japanese retail-license partner will build on this platform and deliver meaningful long-term growth.

    “In Sojitz Infinity, we have an extremely capable partner that brings local market expertise to our brand alongside our already well-established design, buying and merchandising skillset. This combination will drive an acceleration in the performance of the business. We firmly believe that Japan has the long-term potential to be an important market for the Ted Baker brand.”

    As part of the appointment, Ted Baker will transfer certain existing assets relating to its Japanese business (which includes existing non-current stock, fixed assets, and leases) to Infinity at nil value to support the successful transition of the operations.

    As a consequence, Ted Baker anticipates exceptional transaction-related costs of approximately £4 million (US$4.88 million); the costs include onerous lease expenses, restructuring charges, and deal-related costs. The non-cash charges of about £1 million ($1.22 million) include the transfer of non-current stock and fixed assets. Current season stock is being transferred on commercial terms.

    It is expected that the appointment of the license partner will be accretive to the group’s pre-tax profit in the current financial year. The positive impact of profit will increase during the later years of the contract.

    Sojitz Infinity CEO Kohei Ono said Ted Baker is a brand the company has followed since its arrival in Japan.

    “We believe it has the potential to appeal to more consumers in this market. Our knowledge and experience in building fashion brands through stores, concessions and online should add value to Ted Baker and we look forward to working together.”

    Lees ook:

  • Ted Baker reaches balancing point

    Ted Baker reaches balancing point

    Shares in UK-headquartered Ted Baker slumped 25 per cent as the latest financial results show the fashion label may be losing its mojo.

    After years of strong growth, the previously infallible Ted Baker says retail revenue fell by 1.1 per cent on a reported basis, and by 2.9 per cent at constant currency during the 19 weeks to June 8. The company warned shareholders its profit for the current financial year may fall by as much as 20 per cent to somewhere in the range of £50 million to £60 million.

    CEO Lindsay Page blamed the result on weaker trading due to unseasonable weather in North America and a highly promotional retail environment worldwide which impacted on gross margins.

    “As a team, we are proactively addressing the challenges we face as an industry,” said Page.

    “Several of our new product initiatives will commence imminently and we are confident in our collections for the coming season. We are relentlessly focused on achieving cost efficiencies as well as further cost savings throughout the business.”

    Sofie Willmott, lead retail analyst at GlobalData, believes Ted Baker is suffering from overexposure.

    “As a result of its past success and demand for the brand, Ted Baker products are widely available from department store players like John Lewis and House of Fraser, and online pureplays including Asos and Very.co.uk. But overexposure can damage brand appeal particularly when it is positioned at a premium level.

    “Alongside this, the struggles of department store retailers coupled with the misconduct allegations against the brand’s founder, Ray Kelvin, who stepped down permanently in March, will not have helped its performance. To reverse its sales decline, Ted Baker must rein in the number of distribution partners it has, to reaffirm its premium positioning.”

    Willmott said Ted Baker has reached a point where “it will either sink or swim”.

    “For the brand to be able to survive without its former leader and retain its loyal shopper base, it must seize the opportunity to shake up the business and re-establish its brand identity.”

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Ted Baker Boost Store Network in China with JV

    Ted Baker Boost Store Network in China with JV

    Fashion brand Ted Baker has formed a joint venture to expand its network in Mainland China, Hong Kong and Macau.

    A new company will take over the three Ted Baker China stores already operating in Hong Kong and the six on the mainland. It will operate all Ted Baker future stores, concessions and online channels in the three geographical markets.

    Ted Baker will invest about RMB30 million (£3.4 million) in the new venture, which will be co-owned with Shanghai LongShang Trading Company (LS). LS will assign its rights under the JV to a newly incorporated Hong Kong investment vehicle to be wholly owned and formed by LongGoal Holdings and Infra-Apparel Group.

    Lindsay Page, acting CEO of Ted Baker, said the company is excited about the growth potential for the brand across China.

    “Over recent years we have invested in introducing the Ted Baker brand to Chinese customers, and we are confident that the creation of this JV will build on this platform and deliver meaningful long-term growth. In LongGoal and Infra-Apparel, we have extremely capable partners that bring local market expertise to our brand and already well-established design, buying and merchandising skillset.”

    Page said the brand firmly believes China has the long-term potential to become one of the largest single global territories for the Ted Baker brand.

    The Ted Baker China JV will have six directors, evenly split between Ted Baker and the JV Partner. The JV is expected to break-even in the 2021/22 financial year.

    In a statement, Ted Baker said LongGoal and Infra have a wealth of experience in digital marketing, e-commerce operations and building successful joint ventures in China.

    Infra-red has expanded the Golfino brand to 60 stores across China during the last five years and has strong digital-marketing and e-commerce operations experience.

    LongGoal is the current distributor of Gant, operating more than 165 directly owned and 25 sub-franchised locations in China, along with 44 directly owned and franchised Bebe stores.

    The new joint venture will be focusing on expanding the Ted Baker brand into tier 2 and 3 Chinese cities.

    Chen Xiaoling, chairwoman of LongGoal, said Ted Baker’s global lifestyle appeal has resonated well in China, and the company is confident in its ability to grow it further and faster.

    “In more than 20 years, LongGoal has amassed an infrastructure and presence in more than 65 cities, which presents a strong, compelling and proven platform that Ted Baker China can leverage. The transformational JV we’ve forged brings together a leading brand, strong management team and unparalleled opportunity to expand Ted Baker into cities that desire its fresh vision of style,” she said.

    Jing Yin, co-founder and chairwoman of Infra, described Ted Baker as an amazing brand that her company has admired for a long time.

    “[Ted Baker] has already demonstrated its relevance and appeal in the Chinese market. Our knowledge and experience in building fashion brands through stores, concessions and online should prove invaluable to Ted Baker and we look forward to working together.”

    The new venture is condition on approval from Chinese regulatory authorities.

    Lees ook:

  • Ted Baker’s CEO resigns

    Ted Baker’s CEO resigns

    Ray Kelvin has stepped down from his position as CEO and director of UK fashion label Ted Baker amid allegations of misconduct. The company’s founder and former CEO had been taking a voluntary leave of absence after employees launched an online petition in December 2018, accusing him of inappropriate comments and conduct, including forced hugging.

    An ‘independent committee’ within the business has been in the process of investigating the allegations over the past three months. The committee commissioned the law firm Herbert Smith Freehills (HSF) to investigate the allegations and the comapny’s policies, procedures and handling of HR-related complaints.

    The investigation will continue, with the primary focus now on Ted Baker’s policies, procedures and handling of complaints. It is expected that HSF will conclude its investigation at the end of Q1 or early in Q2 2019.

    Kelvin has denied all allegations of misconduct, but he resigned on Monday with immediate effect. Acting CEO Lindsay Page has agreed to continue in her role, and director David Bernstein has been asked to act as executive chairman to provide additional support to Page.

    Bernstein said he will continue in this position until no later than 30 November 2020, by which time a successor will be appointed. In a regulatory statement. Bernstein attempted to toe the line between thanking Kelvin, and expressing his support for Ted Baker’s staff.

    “Ray Kelvin founded the business 32 years ago and has, together with the fantastic team around him, been the driving force behind it becoming the global brand it is today,” Bernstein said.

    “As founder and CEO, we are grateful for his tireless energy and vision. However, in light of the allegations made against him, Ray has decided that it is in the best interests of the company for him to resign so that the business can move forward under new leadership.

    “As a board of directors, we are committed to ensuring that that all employees feel respected and valued. We are determined to learn lessons from what has happened and from what our employees have told us and to ensure that, while the many positive and unique aspects of Ted’s culture are maintained, appropriate changes are made.

    “Sharon Baylay has agreed to act as the designated non-executive director for engagement with the Ted workforce. Led by Lindsay, we are confident that the strong and experienced team we have in place will build the Ted culture and move the business forward.”

    Taking such a middle-of-the-road position, however, seems untenable in the long run. Just last month Karren Brady stepped down from her position as chair of Taveta Investments, the holding company of Sir Philip Green’s Arcadia Group, which in turn owns the UK fashion retailer Topshop, amid ongoing allegations that Green has sexual harassed and made racist remarks to in-store staff.

    There are new calls for Green to lose his knighthood and step down from his position.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Luxury brands open stores in Ambience Mall India

    Luxury brands open stores in Ambience Mall India

    Ambience Mall, Gurgaon, with some of the biggest food and fashion brands such as H&M, Gap, Zara, Marks & Spencers, Kiko Milano, Luxe Bridge, Iconic, Da Milano, Jack & Jones, Cover Story, Ritu Kumar etc, is the perfect destination for shoppers of all age groups. To augment its standing as the numero uno, two more luxury brands Ted Baker and Hackett London have opened their stores in the mall recently.

    British clothing and accessories brand Ted Baker known for designer apparel and signature tailoring opened its latest store at the Ambience Mall, Gurgaon. The store is equipped with glamorous interiors and tons of charm. The brightly-lit store will house their wide range of both menswear and womenswear. Ted Baker is a mainstay for every stylish wardrobe with a collection of bright dresses, tops, menswear, luxe accessories and add-ons.

    Located adjacent to the Ted Baker store, Hackett London is a multi-channel British menswear retailer, specialising in vintage clothing for men. As the official couturier for the British Army Polo team, the Henley Royal Regatta, the BAFTA awards and Aston Martin Racing, Hackett London is steeped in Britain’s rich sartorial heritage. With a wide repertoire of fine casual and formal clothing the store is a niche addition to the malls offering.

    Speaking on the store launch, Arjun Gehlot, Director, Ambience Malls, said, “We are delighted to have some of the best international fashion luxury brands Ted Baker and Hackett London in our mall. This is part of our commitment to offer International and Domestic premium quality brands to our customers under one roof. We will continue to bring best quality brands in the future as well.”

    The Ambience mall with the best offers in shopping, entertainment and culinary offering under its roof is the definitive favorite of shoppers looking for premium international and domestic brands. With an eclectic mix of top international and Indian clothing brands to cater to all age groups, wide array of entertainment options and unique decorative concepts that is constantly refreshed in-tune with changing seasons and festivities, the Ambience Mall, Gurgaon has indeed cemented its place as the perfect destination for shopping enthusiasts and thrill seekers in Delhi-NCR.

    Lees ook:

    Lees ook:

  • Sexual Harassment Claims Against Ted Baker’s Founder investigated

    Sexual Harassment Claims Against Ted Baker’s Founder investigated

    UK fashion retailer Ted Baker has appointed an independent committee of non-executive directors to investigate workplace harassment claims that current chief executive and founder Ray Kelvin expected staff to hug him and sit on his lap when visiting stores.

    “Ray, and the company’s leadership, have always prided themselves on Ted Baker being a great employer and business to work with,” the company said in a response to media reports about the claims and a petition started by staff members to stop the behaviour.

    “Accordingly, they and the board take these concerns very seriously and the board has directed a thorough and urgent independent external investigation carried out into these matters.”

    Organise, a website that allows employees to speak out against what they see in the workplace, and where Ted Baker staff initially spoke out about the workplace harassment, was contacted by leadership at the retailer who said they’re “open to changing the way we do things” when it comes to hugs.

    “Together our pressure exposed what was happening at the highest level. Now, over 100 anonymised reports of harassment are sat with Ted Baker’s board,” Organise said in a blog post about the matter.

    In an interview, Kelvin explained that he hugs people because his psoriatic arthritis makes it painful to shake hands, and took offence when it was suggested that people would be uncomfortable doing so.

    “You can’t expect my life to change because today people are particular about certain things that we grew up quite naturally with,” Kelvin explained, calling it “good old-fashioned stuff.”

    “Plenty of people might have sat on Ted Baker’s knee.”

    Lees ook:

  • Superdry expect loss from prolonged summer

    Superdry expect loss from prolonged summer

    Superdry has issued a profit warning, saying an unseasonably warm European and US east coast summer together with foreign exchange costs will reduce income by about £10 million. “Superdry is a strong brand with significant growth opportunities, backed by robust operational capabilities, but we are not immune to the challenges presented by this extraordinary period of unseasonably hot weather,” said CEO Euan Sutherland in a statement.

    “We are well prepared for peak trading, but the second half of financial year 2019 presents both risks and opportunities.”

    The company’s share price fell a heavy 20 per cent in early trading after the announcement was made.

    Foreign exchange costs are expected to be about £8 million higher this year and the collapse of department store chain House of Fraser has left the fashion retailer an estimated £236,000 out of pocket.

    Sofie Willmott, senior retail analyst at GlobalData, said rival chains Quiz, Coast and Ted Baker have all been hit by the downfall of House of Fraser. “Superdry, the usually untouchable brand that consistently delivers double-digit sales growth, is the next to be affected.”

    Willmott said Superdry has had an unhealthy reliance on autumn/ winter stock and was unable to trade in season.

    “Given that the only certainty with weather is that it can be unpredictable, Superdry should have been better prepared to react to the prolonged warm summer, cutting back on volumes of jackets and coats to avoid overstocks and the need for markdowns.”

    Superdry knows this is an issue and is five months into an 18-month product-diversification program to broaden its range.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Ted Baker Asia sales free falls

    Ted Baker Asia sales free falls

    Ted Baker Asia sales slipped in the 28 weeks to August as the UK brand trimmed its store network in Hong kong and Mainland China.

    According to its latest results filing, Ted Baker Asia sales fell 1.8 per cent in real terms, however in constant currency they rose 1.8 per cent, to £11.2 million.

    Sales per square foot excluding e-commerce sales decreased 4.4 per cent.

    “We continue to refine and develop our strategy for success in Asia,” said chairman David Bernstein.

    In China, Ted Baker closed one store, one concession and one outlet store. It closed another store in Hong Kong.

    But Bernstein said the company’s e-commerce concession businesses in China and Japan performed well with sales of £1.7 million (up by £600,000 compared with last year) which expressed as a percentage of total Ted Baker Asia retail sales came to 15.2 per cent.

    In Asia, Ted Baker licensees opened new stores in India, Malaysia, Singapore and Taiwan during the period.

    Globally, Ted Baker retail sales, including e-commerce, rose 1.1 per cent to £220.1million. Group revenue, including licensing, rose 3.5 per cent to £306 million.

    “Ted Baker has continued to develop and expand as a global lifestyle brand across its markets and distribution channels despite challenging external trading conditions,” said founder and CEO Ray Kelvin. “This continued growth is testament to the strength of the Ted Baker brand, the design and quality of our collections as well as the dedication and talent of our teams.

    “Whilst we believe that the second half of the year will remain challenging due to external factors, we are well positioned to continue Ted Baker’s long-term development. Our flexible business model ensures that our customer has multiple channels to engage with Ted Baker and our global e-commerce business continues to expand, supported by our digital marketing strategy and unique stores that showcase the brand.”

    Lees ook:

    Lees ook:

    Lees ook:

  • OnTheList launches in Singapore

    OnTheList launches in Singapore

    Hong Kong’s OnTheList flash-sale concept has launched in Singapore.

    The first OnTheList Singapore sale will run from September 19 to 22 in Ngee Ann City Tower B.

    It marks the first overseas foray by the independent, members-only flash-sale concept platform, founded in 2016 by French entrepreneurs, Delphine Lefay and Diego Dultzin Lacoste.

    OnTheList contracts to brands to move excess inventories in short-term sales, with discounts as high as 90 per cent. By selling to a pre-registered, members-only audience, the sales do not undermine those at mainstream stores, or clutter them with racks of off-price merchandise.

    Consumers enrol to attend sales online, with options of free access or a paid premium membership giving advance access to sales.  A separate website has been built for OnTheList Singapore.

    “When I was working in Hong Kong’s retail industry, there was an absence of options for distributors and brands to clear old inventory occupying valuable warehouse space,” explains Delphine Lefay. “To fill this gap, we founded OnTheList as an independent third-party platform and it was the first of its kind in Asia.

    “Through flash sales we hosted, we offered consumers access to premium products at attractive prices, and brands the opportunity to clear past-season items and connect with new customers,” she adds.

    Dultzin Lacoste says this method of clearing stock also promotes sustainability and minimises environmental impact within the retail industry, as old inventory does not go to waste.

    “OnTheList’s business model also gives brands the opportunity to reach out to a wider consumer database, engaging them through the flash sale platform as a first touch point.”

    In just two years, the business has gone from a few pop-up sales to over 150 flash sales and partnerships with over 250 premium brands, including Armani, Clarins, Diane Von Furstenberg, Ferragamo, Kenzo, Roberto Cavalli, and Ted Baker Le Creuset and Havaianas. In Hong Kong, OnTheList now has a permanent venue for its flash sales, but has grown so big it still needs short-term venues, often running multiple sales concurrently.

    OnTheList has now cleared more than 1 million items from its brand partners – and in one four-day sale last year it sold a pair of Havaianas every six seconds.

    OnTheList Singapore will launch with monthly pop-up sales, announcing participating brands just 10 days prior to the sale.

    “We are expanding into Singapore because its retail market has many similarities with Hong Kong’s,” says Lefay.

    OnTheList Singapore also hopes to tap into the large tourism market, as tourism receipts in the city have reached record highs during the past two years.

    “As visitor arrivals from China, India, Indonesia and Vietnam have increased tremendously, it is an opportune time for OnTheList to attract high spenders from the region and to use Singapore as a launchpad for future expansion in Asia and beyond.”

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Ted Baker Launches First-EverTravel-Retail Boutique In Changi Airport

    Ted Baker Launches First-EverTravel-Retail Boutique In Changi Airport

    Ted Baker opens up a new location in Changi Airport Terminal 2 Departure Transit Lounge – its first-ever travel-retail boutique in Changi Airport which invites jetsetters to browse and buy at leisure.

    To immerse yourself in the Ted Baker experience, pull up to the stylish bar-styled interior which is an evocative fusion of one part Singapore Sling and two parts British Dry Gin, mixed liberally with Ted’s signature style of apparel for him and her, and topped off with exclusive offerings.

    REMINISCENT OF ENGLISH GIN PALACES

    An open-concept boutique, this destination is a standing invitation to experience Ted’s iconic British wit.

    Infused with splashes of Ted’s quirky tongue-in-cheek humour and creative attention to detail, it features design touches of English gin palaces, polished copper distillery aesthetics, juniper berries (from which gin is distilled), and luxurious lounge finishes.

    In a nod to its premium location at Changi Airport, Ted Baker also takes inspiration from the Changi Butterfly Garden in the unique store design. Butterfly motifs and soothing touches of greenery lend an outdoor-garden atmosphere to the boutique, complementing the contemporary and transatlantic charm of its offerings.

    Eco-conscious travellers can also take heart that energy efficient fittings in the store design aid in Ted Baker’s environmentally-conscientious operations.

    EXCLUSIVE RETAIL ITEMS AVAILABLE HERE

    Shoppers at this boutique can expect an array of exclusive items not available at any other physical store in Singapore. These include travel luggage, leather accessories, stationery items, scarves, sunglasses and swimwear.

    With its wide and diverse selection of apparel and accessories as distinctive as your destination, this boutique is a breath of fresh air, and a jaunty reminder that a trip to anywhere begins at Ted Baker.

    The pictures of the store can be viewed below :