- FashionUnited |
London-based fashion group Ted Baker not only report a surge in profits this week, but it is also eyeing an expansion strategy which involves taking its brand to Australia and New Zealand.
The urban brand, which operates almost two dozen stores and over 40 concessions in the UK said that retail sales had climbed 17 per cent to GBP 48.8m, with both retail and wholesale sales being up by a third so far this year. Now the brand wants to move into Australian and New Zealand markets after agreeing in principle to enter into a licensing deal with Flair Menswear to distribute its range throughout Australasia.
It is understood the company will initially target about 20 department stores across both Australia and New Zealand in conjunction with Flair (a former licensee of Hugo Boss). If the move proves to be a success, Kelvin said it would also consider opening standalone stores in the region.
In the UK the brand is planning to expand both its children's wear and women's wear ranges later this year.