Ted Baker names Next as new lingerie and nightwear licence partner
Fresh from its takeover of Victoria’s Secret’s UK operations, Next is deepening its intimates involvement with the news that Ted Baker has entered into a product licence agreement with Next for lingerie and nightwear.
Under the terms of the three-year deal, Next will create and distribute Ted Baker’s lingerie and nightwear collections, known as B by Ted Baker, in collaboration with the creative team at its retail peer.
The contract starts when its current partnership agreement expires and the first fruits will launch next May. The ranges will be sold through Next’s online retail channels and through Ted Baker’s webstores.
The new deal comes after the pair successfully partnered on Ted Baker’s kidswear this spring.
Ted Baker said that such licence partnerships are a key component of its “Formula for Growth, the three-year transformation plan which is designed to deliver a more profitable, more cash generative and higher return on capital employed business”.
Once this deal kicks in, Ted Baker will have 20 product licence partners globally.
Only this month it was announced that Next had acquired a 51% stake in the UK Victoria’s Secret operation and would run it in both the UK and Republic of Ireland.
It comes as Next continues to radically expand the range of brands it offers and also diversifies into areas with potential for strong growth, such as premium beauty.
Copyright © 2021 FashionNetwork.com All rights reserved.