TIDMTED
RNS Number : 8648R
Ted Baker PLC
11 March 2021
11 March 2021
Ted Baker Plc ("Ted Baker", the "Group")
Ted Baker announces new territory licence deals to enhance
digital and asset light growth
- Extension of current agreement with Al-Futtaim Group
("Al-Futtaim") for Retail, and new Wholesale and eCommerce rights
in Middle East and North Africa ("MENA")
- A new agreement with PT Mitra Adiperkasa ("MAP") for the
Retail licence for the Indonesian market
Ted Baker, the global lifestyle brand, is pleased to announce
that it has entered into agreements with Al-Futtaim and MAP as
Territory Licence Partners for MENA and Indonesia respectively,
further delivering on the strategic priority of driving digital and
asset light growth.
The Al-Futtaim agreements now include eCommerce and means that
MENA will be Ted Baker's first full omni-channel territory operated
by a licence partner, with complete integration of the Retail,
eCommerce and Wholesale channels. The enabling of full omni-channel
services is a key pillar of the Group's transformation plan and
alongside the launch of the new eCommerce platform from the end of
Q1 2021 marks further progress in creating an even better customer
proposition.
Licence partnerships are a key component of Ted Baker's
three-year transformation plan which is designed to deliver a more
profitable, more cash generative and higher return on capital
employed business.
Following these new licence agreements, Ted Baker will have 17
Retail Licence Partners and 20 Product Licence partners across the
globe, extending a proven operating model that has supported the
Group's success as a global lifestyle brand.
Helen Costello, Group Commercial and Business Development
Director at Ted Baker, commented:
"We are delighted to be signing these agreements with Al-Futtaim
and MAP. 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 realise the significant growth
potential from the accelerating consumer shift to online channels
in the region.
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."
Retail, Wholesale and eCommerce licence agreement with
Al-Futtaim for the MENA region
This new strategic partnership builds on the strength of the
existing relationship between Ted Baker and Al-Futtaim, which has
an excellent understanding of the Ted Baker brand having operated
the Retail licence in MENA for more than 13 years.
Under the terms of the new 10-year agreements, signed on {10
March 2021]], Al-Futtaim will also have the Wholesale and eCommerce
rights for the MENA region.
Al-Futtaim currently has 24 Ted Baker stores and concessions
across Bahrain, Egypt, Qatar, Saudi Arabia and UAE. Granting the
eCommerce and Wholesale rights in addition will bring all revenue
streams together in MENA and further strengthen the customer
experience of the Ted Baker brand in the region. Specific benefits
to customers will include alignment of pricing and promotions
across channels, and an improved eCommerce proposition with shorter
delivery times, and ship-from-store and click-and-collect
services.
Al-Futtaim uses its local knowledge and expertise to support
brands to replicate their values, ethos, culture and commercial
success in its own territories. Established in the 1930s,
Al-Futtaim now partners with more than 200 of the world's leading
brands in MENA.
Regis Schultz, Retail President, Al-Futtaim, commented:
"We are delighted to extend our partnership with Ted Baker.
Having worked closely with the brand over the past years, we
recognize the power of their brand and are confident that we will
move it up to the next level with a multi-channel sales approach,
keeping the customer at the heart of our business"
New Retail licence agreement with MAP in Indonesia
Under the terms of the 10-year agreement which commenced on 16
February 2021, MAP has the Retail and selective digital rights for
Indonesia. 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 5 other licence partners and the
Group's China JV.
MAP is the leading lifestyle retailer in Indonesia with over
2,600 retail stores and a portfolio of over 150 of the world's
leading brands.
Ratih Darmawan Gianda, Vice President Investor Relations,
Corporate Communication & Sustainability at MAP Group commented
:
"We are delighted to partner with Ted Baker, a company
world-renowned for its stylish and sophisticated offerings. We
believe the brand will complement our diverse portfolio and will
further unleash the power of MAP's 360deg retailing strategy. We
are committed to supporting Ted Baker with the same dedication and
passion that we have demonstrated to each of our brands."
ENDS
For further information contact:
Tulchan Communications Tel: +44 (0) 20 7353 4200
Jonathan Sibun / Jessica Reid / Will Palfreyman
Further information:
www.tedbaker.com
www.tedbakerplc.com
Notes to Editors
About Ted Baker
Ted Baker is a global fashion and lifestyle company born in the
UK. Having grown steadily from its origins as a specialist shirt
store in Glasgow in 1988, it now has over 500 stores, outlets and
concessions worldwide, including boutiques in all the major fashion
destinations across the UK.
About Al-Futtaim Group
Established in the 1930s as a trading business, Al-Futtaim Group
today is one of the most diversified and progressive, privately
held regional businesses headquartered in Dubai, United Arab
Emirates. Structured into five operating divisions; automotive,
financial services, real estate, retail and health; employing more
than 42,000 employees in more than 20 countries in the Middle East,
Asia and Africa, we partner with over 200 of the world's most
admired and innovative brands. Al-Futtaim's entrepreneurship and
relentless customer focus enables the organization to continue to
grow and expand; responding to the changing needs of our customers
within the societies in which we operate. By upholding our values
of respect, excellence, collaboration, integrity; Al-Futtaim
continues to enrich the lives and aspirations of our customers each
and every day. For more information visit: www.alfuttaim.com .
About PT Mitra Adiperkasa (MAP)
As at end of September 2020, MAP operates more than 2,300 retail
outlets in 81 cities throughout Indonesia. The major retail
concepts under the group among others: Department Stores: Sogo,
Seibu, and The FoodHall; Fashion & Lifestyle: Loewe, CK, DKNY,
MaxMara, MaxMara Weekend, Lacoste, Camper, Dr Martens, Zara, Marks
& Spencer, Topman, Topshop, Kipling, Nautica, Massimo Dutti,
Staccato, Swarovski and Zara Home; Sports: Sports Station,
PlanetSports.Asia, The Athlete's Foot, Converse, Golf House,
Payless ShoeSource, Reebok, Rockport, Skechers, Onitsuka Tiger and
Clarks; Food & Beverage: Starbucks, Pizza Marzano, Krispy
Kreme, Cold Stone Creamery Ice Cream, Godiva, Genki Sushi, Burger
King and Domino's Pizza; Kids: Kidz Station, Smiggle and Lego;
Others: Kinokuniya, Digimap and Alun Alun Indonesia. For more
information about MAP please visit www.map.co.id .
Cautionary statement regarding forward-looking statements
This announcement contains certain forward-looking statements.
These forward-looking statements include matters that are not
historical facts or are statements regarding the Group's
intentions, beliefs or current expectations concerning, among other
things, the Group's results of operations, financial condition,
liquidity, prospects, growth, strategies, and the industries in
which the Group operates. Forward-looking statements are based on
the information available to the Directors at the time of
preparation of this announcement and will not be updated during the
year. The Directors can give no assurance that these expectations
will prove to have been correct. Due to inherent uncertainties,
including both economic and business risk factors underlying such
forward-looking information, actual results may differ materially
from those expressed or implied by these forward-looking
statements.
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END
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