Ted Baker has signed a new licence franchise agreement with the Aldrich Group that will see the retailer potentially open several new stores.
The deal also hopes to deliver on the brand’s strategic objectives and continue expanding on Ted Baker’s in-store experiences.
In a statement on the franchisee’s website, the company’s CEO said: “This is a significant opportunity for Ted Baker to increase its bricks and mortar presence across the UK without the capital expenditure and allowing them to focus on their product and growth.”
The statement continued: “The addition of Ted Baker will be a complement to our existing portfolio of premium franchise and own brand stores. Our stores create unique and exquisite experiences for a brand’s customer in a completely ‘on brand’ environment. Our attention to detail is unrivalled.”
The duo plans to open a minimum of 30 UK-based stores over the next 10 years as it looks to make a seamless transition from its own brand and franchise stores.
By Rachel Douglass
Source: Fashion United