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16 Aug 2019 | 07:15

Ted Baker inks childrenswear distribution pact with Next

Fashion retailer Ted Baker said it had forged a product licence agreement with rival Next to accelerate the expansion of its childrenswear collections, replacing an existing arrangement with department store chain Debenhams.

The initial five-year agreement would see Next create and sell Ted Baker childrenswear products in collaboration with the creative team at Ted Baker.

New collections would launch in Spring 2020 and be sold through Next's retail channels and wholesale relationships, as well as through Ted Baker's websites.

Ted Backer said its current childrenswear product relationship with Debenhams would end on 29 February 2020.

It retained an 'established and mutually-profitable relationship' with Debenhams, which remained a licence partner for lingerie and nightwear.

Ted Baker does not anticipate a material financial impact from this agreement in the current financial year nor in the 2020/21 financial year.

'Product licensing is a proven and highly successful pillar of Ted Baker's strategy to expand as a global lifestyle brand,' chief executive Lindsay Page said.

'It enables us to carefully develop the brand in new, relevant categories by leveraging the specialist product expertise of our carefully selected partners.'

Story provided by StockMarketWire.com
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