Ted Baker is expected to announce strong sales off the back of a continued drive into foreign markets for the company who has come a long way since its inception
Starting simply as a shirt store in Glasgow in 1988, Ted Baker is now one of the most renowned clothing retailers in the UK, but recent drives outside of its native Britain have given the company a massive boost in recent years, with its influence being felt across three continents at present.
As well as numerous branches in the UK, the retailer also boasts stores in Tokyo, Paris and San Diego. In the coming months, there are also plans to breach markets in China and Canada through outlets in Shanghai, Beijing and Toronto. This is as well as a store to be opened in New York and Hong Kong to enhance the fleet further.
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The developments already made and the expansions in the pipeline are clearly having a positive effect on the success of the business too, as revenues rose 16.2 percent over the last 19 weeks. Given the added expenditures in terms of the latest store openings in London and Tokyo, this resembles an overall four percent growth in like-for-like sales.
The 180 stores already in operation are thought to be benefitting from the tourist industry as well as a healthy demand for more luxury items among consumers. Despite the economic crisis, which many fashion brands are falling victim to, the continued appeal of more up-market items seem to be holding steady, and Ted Baker have most certainly capitalised.
Broker Oriel Securities insinuated that the growth made a refreshing change from the recent troubles engulfing many of the industry’s brands, stating the figures were “very positive in what is a very tough retail environment”.
They continued: “Growth in both the retail and wholesale businesses has been achieved, without the need for gross margin investment.”
Ted Baker itself also expressed its delight at the progression: “We are pleased with performance across all territories despite a backdrop of challenging trading conditions.”