Ted Baker has entered into an agreement with Sojitz Infinity Inc. to create an exclusive retail licence deal for Japan initially for 5 years.
Infinity is an optimum choice for the brand as it will facilitate their long-term expansion in the region; combining local expertise, especially within the department store sector, with the proven buying, merchandising and brand-building expertise of Ted Baker.
The Group anticipates the retail licence will start on 1 October 2019.
With the new agreement in place, Ted Baker will have 17 Retail Licence Partners across the world, extending its successful and proven operating model.
Speaking on the deal, Lindsay Page, CEO, Ted Baker commented, “We are very excited about the next stage of growth for the Ted Baker brand in Japan. Over recent years, we have invested in introducing Ted Baker to Japanese customers and we are confident that our new Japanese Retail Licence Partner will build on this platform and deliver meaningful long-term growth.”
In the recent years, the Group has opened 5 stores in the region and has plans of continued investment to develop the brand further in the Japanese market.
Infinity intends to build on the Group’s existing store portfolio, expand the concession network and invest in Ted Baker’s online presence.
“We are thrilled to have the opportunity to help build and develop Ted Baker in the large and unique Japanese market. Ted Baker is a brand that we have followed since its arrival in Japan for a long time and 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,” Kohei Ono, Chief Executive Officer of Sojitz Infinity Inc., said.
Source: https://in.apparelresources.com