Ted Baker has recently entered into a three-year agreement with Baird Group to secure its men’s formalwear license, marking a significant step in the retailer’s efforts to strengthen its menswear business on a global scale. The partnership will primarily focus on the creation and distribution of men’s formalwear in the UK, Europe, and other international markets, excluding North America. Baird Group, renowned for its expertise in menswear manufacturing and retail, will work closely with Ted Baker to streamline the supply chain and enhance replenishment processes. The first collection resulting from this collaboration is expected to be launched in the spring of 2021.

By joining forces with Baird Group, Ted Baker sees the opportunity to combine its brand identity with Baird’s extensive knowledge, scale, and vertically-integrated model. While the retailer already has an existing partnership with Jack Victor for men’s formalwear in North America, the addition of Baird Group ensures that Ted Baker will have two trusted and proficient partners in this category, ensuring consistency and adaptability across its formalwear offerings. It’s important to note that, despite these licensing agreements, Ted Baker will retain control over all of its products to maintain alignment with its brand direction.

Phil Clark, Group Commercial and Business Development Director at Ted Baker, expressed his enthusiasm about the partnership and emphasized its significance in consolidating this crucial category for the company. He also mentioned that Ted Baker plans to leverage its successful partnership experience in North America to other territories. This new collaboration with Baird Group is just another step towards realizing Ted Baker’s transformation plan known as the Formula for Growth, which aims to revitalize the business and drive growth.

In addition to the aforementioned partnership, Ted Baker recently announced its collaboration with Next for intimates and nightwear licensing. These licensing agreements are integral components of the Formula for Growth plan, as they play a crucial role in Ted Baker’s objective to increase profits, generate better returns on investments, and boost free cash flow. These strategic moves highlight the company’s steadfast commitment to transforming its business and returning to a trajectory of growth.

Useful links:
1. Source 1
2. Source 2