Ted Baker inks men’s formalwear licence deal with Baird Group
Fresh from naming Next its new intimates licensee, Ted Baker has added another company to its licence list with the appointment of Baird Group for men’s formalwear as it works to improve the speed and efficiency of its menswear operation internationally.
It’s a three-year deal that will see Baird working with the Ted Baker team to create and distribute men’s formalwear in the UK, Europe and the Rest of World market, but not North America. The first collection will launch for spring 2021.
Baird is a key name in UK menswear manufacturing and retail with formalwear its speciality. Supported by a strong online presence and wholesale relationships, it also operates from 48 retail stores and 147 concessions in the UK and Europe.
Ted Baker said the new deal will combine its brand “with the benefits of Baird’s expertise, scale and vertically-integrated model. Amongst a range of benefits, this will ensure a more efficient supply chain and a more agile replenishment model than is currently in operation”.
The retailer also works with Jack Victor for men’s formalwear in North America and it said the new partnership with Baird will mean that it now has “two expert partners for this category. This will help ensure consistency and flexibility of the formalwear product across the brand”.
Ted Baker retains control over all of the products made through both deals “to ensure complete alignment with the direction of the brand”.
Phil Clark, Group Commercial and Business Development Director at Ted Baker, said: “This partnership simplifies and helps consolidate a key category for us and we hope to apply the experience from our successful North American partnership across these other territories. As we continue to rationalise and enhance our product license portfolio, this new partnership is another step in transforming our business and returning Ted Baker to growth.”
A few months ago, the retailer announced its new Formula for Growth transformation plan that’s designed to increase profits, boost free cash flow and generate higher returns on its investments and it said that licence partnerships are a key component of this. As mentioned, Next was announced as its new intimates and nightwear partner only a week ago.
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