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.jpg) Ted Baker store in Midtown Manhattan, New York | |
| Type | Private |
|---|---|
| ISIN | GB0001048619  |
| Industry | Fashion |
| Founded | Glasgow, Scotland (1988) |
| Founder | Ray Kelvin |
| Headquarters | , England |
Key people | Rachel Osborne (CEO) Helena Feltham (interim Chair) |
| Products | |
| Revenue |  £617.4 million (2019)[1] |
 £54.5 million (2019)[1] | |
| £40.7 million (2019)[1] | |
| Owner |
|
| Website | tedbakerplc.com (corporate) tedbaker.com (retail) |
Ted Baker is a British high-street clothing retail company known for suits, shirts, and dresses. It was founded in 1988 in Glasgow, Scotland.[2] The company is owned by Authentic Brands Group, after its £211 million acquisition in October 2022.[3] The brand has over 500 shops and concessions around the world.[3]
History
Founder Ray Kelvin, who named the company after a self-styled alter ego, an "intrepid aviator, an all-round sportsman and the consort of princesses and Hollywood beauties",[4] started his first store in March 1988 in Glasgow, and opened further stores in Manchester and Nottingham.[5] In 1990 Ted Baker opened a store in Covent Garden, London (with additional stores in London's Soho, Nottingham and Leeds) and Kelvin bought the company outright from part-owners Goldberg and Sons.[5] A new range, Ted Baker Woman, was launched in 1995.[5]
The company purchased its headquarters in London for £58.25 million in 2017.[6]
In October 2022, Ted Baker was acquired by Authentic Brands Group for £211 million.[7][3] Under the terms of a takeover bid by the Authentic Brands Group, effective from 21 October 2022, Ted Baker plc's shareholders will be issued with £1.10 in cash in exchange for each of their shares.[8] The deal marked the end of the company's listing on the London Stock Exchange.[3]
Retail stores and outlets
Ted Baker has a number of stand-alone stores in the UK. The Ted Baker range is also sold by other retailers (which it refers to as Ted Baker Trustees), in particular in stores of the John Lewis Partnership and House of Fraser. Ted Baker also has stores at Bicester Village Retail Outlet, Swindon Designer Outlet, Portsmouth's Gunwharf Quays and Cheshire Oaks Designer Outlet. There is a Ted Baker concession in all Selfridges & Co stores; London, Birmingham, Manchester and the Trafford Centre.[5]
Ted Baker has stores and outlets in the rest of Europe, the United States, Canada, Australia, Asia, South Africa and the Middle East. It opened a store on Fifth Avenue in New York in August 2012.[9]
As of 2018, Ted Baker has 500 stores and concessions worldwide: 192 in the UK, 98 in Europe, 111 in the US and Canada, 80 in the Middle East, Africa and Asia and 9 in Australia.[3][10]
In April 2020, Ted Baker furloughed nearly 2,000 employees, including head office staff, due to the COVID-19 crisis. The company has also suspended non-essential capital expenditure and halted any discretionary operating expenses.[11]
Wholesale operations
Ted Baker has expanded its high street presence through its wholesale business which includes Australia, New Zealand, the United States, Canada, Norway, Greece, Spain, the Netherlands, Belgium, as well as the British Isles. Wholesale operations commenced in 1994 through careful selection of retail stores.[5]
Governance
In response to an online petition started by a former employee alleging that Ray Kelvin, who was then the company's chief executive, had hugged employees inappropriately,[12][13] it was announced on 7 December 2018 that Kelvin was taking voluntary leave of absence from the company while the allegations were investigated and that Lindsay Page would act as chief executive.[14][15] On 4 March 2019 it was announced that Kelvin had resigned and would be leaving the company immediately.[16] Poor trading figures led to Page and executive chairman David Bernstein stepping down from their roles, and Rachel Osborne being appointed acting CEO, in December 2019.[17][18]
References
- ^ a b c "Annual Report & Accounts 2018/19" (PDF). Ted Baker. Retrieved 3 October 2019.
- ^ Staff writer(s) (2 September 2022). "Ted Baker's store revenue gains on recovering footfall, formalwear sales". Reuters. Retrieved 19 September 2022.
- ^ a b c d e Sweney, Mark (August 2022). "Ted Baker agrees takeover by US Reebok owner". The Guardian.
{{cite web}}: CS1 maint: url-status (link) - ^ Narwan, Gurpreet (22 July 2019). "Former boss ready to dress Ted Baker for private party". The Times. Retrieved 4 July 2021.
- ^ a b c d e "Our Timeline". Ted Baker. Retrieved 4 July 2021.
- ^ "Is there more growth from Ted Baker after 2,300% return in 20 years?". Walbrock Research. 6 June 2017. Retrieved 6 June 2017.
- ^ Nazir, Sahar (21 October 2022). "Authentic Brands completes £211m acquisition of Ted Baker". www.retailgazette.co.uk. Retrieved 5 December 2022.
- ^ "Offer by Authentic Brands Group". Ted Baker plc. 2022. Retrieved 7 October 2022.
- ^ Thompson, James (12 June 2012). "Jubilee celebration gives Ted Baker a lift". Evening Standard. Retrieved 12 June 2012.
- ^ "Preliminary Results 2018" (PDF). Ted Baker. Retrieved 30 March 2018.
- ^ Fish, Isabella; Whelan, Grace (3 April 2020). "Ted Baker furloughs 75% of workforce". Drapers. Retrieved 24 April 2020.
- ^ "Ted Baker staff launch petition over 'forced hugging'". BBC News. 2 December 2018. Retrieved 2 December 2018.
- ^ "Scrap the forced 'hugs' and end harassment at Ted Baker". Organise Platform. Retrieved 30 November 2018.
- ^ "Chief Executive Officer – Leave of Absence". Investegate (Press release). London: Ted Baker plc. 7 December 2018. Retrieved 7 October 2022.
- ^ "Ted Baker boss takes leave of absence". BBC News. 7 December 2018. Retrieved 7 December 2018.
- ^ "Ted Baker founder Ray Kelvin resigns amid 'forced hugging' row". BBC News. 4 March 2019. Retrieved 30 December 2019.
- ^ Prynn, Jonathan (10 December 2019). "Nightmare before Christmas for Ted Baker as top bosses quit after profits take a nosedive". Evening Standard. Retrieved 30 December 2019.
- ^ Butler, Sarah; Kollewe, Julia (10 December 2019). "Ted Baker bosses quit as it warns over profits plunge". The Guardian. Retrieved 30 December 2019.
{{cite news}}: CS1 maint: uses authors parameter (link)
External links
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