Ted Baker announces appointment of Sojitz Infinity as its Japanese retail licence partner

  • 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.”

www.retailgazette.com

www.tedbaker.com