Ted Baker has appointed Sojitz Infinity as its Japanese retail licence partner in a bid to accelerate the long-term growth of the British luxury brand in Japan.
The five-year partnership, effective from 1 October, will see Ted Baker convert its directly operated business into an exclusive retail licence for the Japanese market.
Ted Baker has opened five stores in Japan to date, and the new partnership hopes to increase the size of the brand’s store portfolio, expand its concession network, and invest in its online presence.
The partnership is estimated to cost Ted Baker four million pounds, but the company said it expects the new operating model will have a marginally positive impact on pre-tax profit from the current financial year and greater benefit in coming years.
Including this latest partnership, the British brand has 17 retail licence partners across the globe.
Commenting on the new partnership in a statement, Ted Baker CEO Lindsay Page said: “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 Sojitz Infinity Inc., 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 performance of the business. We firmly believe that Japan has the long-term potential to be an important market for the Ted Baker brand,” Lindsay continued.
CEO of Sojitz Infinity Inc., Kohei Ono, added: “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.”
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“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 continued.
(Source: Fashion United)