- Ted Baker announces appointment of Sojitz Infinity as its Japanese retail licence partner
- This means Ted Baker’s existing directly-operated business will convert into an exclusive retail licence for the Japanese market
- Effective from October 1, 2019
By guest author Elias Jahshan from Retail Gazette
Ted Baker has ended its solo efforts to break into the Japanese market after it signed a five-year retail partnership deal with Sojitz Infinity.
Effective from October 1, 2019, Sojitz Infinity will drive the long-term expansion of Ted Baker in the region, combining its local expertise in the department store sector with Ted Baker’s buying, merchandising and brand-building expertise.
The partnership will also see Ted Baker work to improve online operations in Japan.
The tie-up will cost Ted Baker GBP 4 million initially but bosses insisted the deal will improve overall profits.
As part of the deal, Ted Baker will transfer certain existing assets relating to Sojitz Infinity – including existing non-current stock, fixed assets and leases – at nil value to support the successful transition of the operations.
This means Ted Baker’s existing directly-operated business will convert into an exclusive retail licence for the Japanese market.
“We firmly believe that Japan has the long-term potential to be an important market for the Ted Baker brand,” Ted Baker chief executive Lindsay Page said.
Sojitz Infinity boss Kohei Ono said: “Our knowledge and experience in building fashion brands through stores, concessions and online should add value to Ted Baker and we look forward to working together.”