Ted Baker said this morning it has secured two 10-year long territory license deals, in a bid to grow further into the Middle East, North Africa and Indonesia.
The retailer has extended its pre-existing Al-Futtaim agreement for retail, which now includes e-commerce rights in the Middle East and North Africa (MENA), after operating its retail license in the regions for 13 years.
The MENA expansion, which was agreed yesterday, will be Ted Baker’s first omni-channel territory operated by a license partner, where retail, e-commerce and wholesale channels are integrated.
Meanwhile, the retailer’s agreement with PT Mitra Adiperkasa (MAP) give the group retail rights for the Indonesian market.
The decade long agreement, signed in February, has driven store and concession openings and will allow Ted Baker to sell via selective online platforms in Indonesia.
“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,” group commercial and business development director, Helen Costello, said.
“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.”
The move forms part of the lifestyle brand’s three-year plan to deliver higher profits, generate more cash and drive a greater return on capital employed business.
With the latest license agreements, Ted Baker will have 17 retail licence partners and 20 product license partners worldwide.
The group’s new e-commerce platform is set to launch after the first quarter of this year.