AUTHENTIC BRANDS GROUP SIGNS AGREEMENTS FOR TED BAKER IN EUROPE

Authentic Brands Group (Authentic), has signed long-term strategic partnerships with two new operating partners for Ted Baker in the UK and Europe, namely PDS Group (PDS) and AARC.

PDS, a sourcing and manufacturing platform, will become a core licensee and operating partner for Ted Baker. PDS, through a UK subsidiary, will serve as the global hub for the newly established Ted Baker Design Group (TDG) and take on Ted Baker’s design and merchandising functions. TDG, which will be located at Ted Baker’s current London headquarters at 101 Cleveland Street, will be responsible for all design, development, and product innovation servicing partners around the world, ensuring that the brand’s vision and ethos are preserved. Global Ted Baker distribution partners will purchase the brand’s core categories from TDG, including men’s and women’s sportswear and outerwear, men’s dress shirts, women’s dresses, and fashion handbags. Additionally, TDG will service wholesale accounts in the UK and Europe.

Further solidifying the new Ted Baker model and preserving the brand’s retail footprint across the UK and Europe, Authentic has simultaneously signed a partnership with AARC to operate Ted Baker’s 120-plus retail stores and concessions and tedbaker.com/uk. AARC is a leading retail operator in 11 countries across Europe, Middle East and Africa.

Rachel Osborne, along with other senior executives, will be stepping down from their roles at Ted Baker. This change is part of a broader transformation process as Ted Baker shifts towards Authentic’s licensing model. Other senior executives include Chief Financial Officer Marc Dench, Chief People Officer Peter Collyer and Group Commercial and Business Development Director Helen Costello.

Rachel Osborne, Chief Executive Officer of Ted Baker said, “On behalf of myself, Marc, Peter and Helen, I would like to thank all our colleagues at Ted Baker for their enduring support and commitment during our tenure at the business. Ted Baker remains an iconic name with global brand recognition and we feel privileged to have helped the business through this transition period. We’re glad to be leaving the business in good hands with a committed group of leaders at Authentic, PDS and AARC, and we’ll do everything in our power to set these new partnerships up for the greatest of success.”

“We are pleased to announce Authentic’s partnerships with PDS and AARC for Ted Baker in the UK and Europe,” said John McNamara, Chief Transition Officer, Authentic. “We are also proud to introduce Ted Baker Design Group, which is derived from the model through which we have seen great success with Reebok. The formation of TDG, supported by the expertise of PDS, AARC and Authentic, positions the brand for continued growth and expansion around the world. The Authentic team thanks Rachel and her team for their dedication and contributions during their time at Ted Baker.”

“We are looking forward to welcoming Ted Baker, a distinctive British lifestyle brand to PDS and joining Authentic’s global partner network,” said Pallak Seth, Executive Vice Chairman at PDS. “Authentic’s proven brand model, which will leverage their expertise in brand development and PDS’s design and product development capabilities, will position Ted Baker for its next phase of growth in the UK and Europe.”

“We are thrilled to partner with Authentic in establishing the new Ted Baker model,” said Joop De Hoogh, CFO at AARC. “We pride ourselves on uniquely customizing the omnichannel experience. In conjunction with Authentic, we intend to continue delivering Ted Baker’s beloved offerings via innovative retail experiences across the UK and Europe.”