All change at Ted Baker as it becomes fully licensed, senior team exit confirmed
Big change ahead for Ted BakerAuthentic Brands Group
It also confirmed the exit of the senior team saying that “as Authentic signs partnerships with a number of best-in-class operating partners that have established leadership structures, Rachel Osborne, along with other senior executives, will be stepping down from their roles at Ted Baker”.
Senior team members to go include CFO Marc Dench, Chief People Officer Peter Collyer and Group Commercial and Business Development Director Helen Costello.
There was no word on whether there will be any other job losses.
As for the other fundamental changes happening, Authentic’s Chief Transition
So, what’s actually happening with its new partners? PDS, “a global leader in design-led fashion sourcing and manufacturing platform, serving the world’s leading brands and retailers”, will become a “core licensee and operating partner for Ted Baker.
Through a UK subsidiary, it will serve as the global hub for the newly established TDG and take on Ted Baker’s design and merchandising functions.
TDG will be located at Ted Baker’s current London headquarters at 101 Cleveland Street and “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”.
It means global Ted Baker distribution partners will buy the brand’s core categories from TDG, including men’s and women’s sports and outerwear, men’s dress shirts, women’s dresses and fashion handbags. And it will service wholesale accounts in the UK and Europe.
And the AARC deal? Authentic said it’s “further solidifying the new Ted Baker model and preserving the brand’s retail footprint across the UK and Europe” via its link-up with AARC to operate Ted Baker’s 120+ retail stores and concessions and the UK webstore. AARC is described as “a leading retail operator” in 11 countries across EMEA.
Outgoing CEO Osborne 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.”
