Ted Baker has signed two licensing deals

Ted Baker has signed two licensing deals

UK high street fashion chain Ted Baker has agreed new licensing deals with Next Plc and Ben Sherman's licensee Baird Group, in a move it says will enhance supply chain efficiency.

In separate announcements, the retailer said it has entered into a three-year product licence agreement with Next, which will create and distribute Ted Baker's lingerie and nightwear collections, known as B by Ted Baker. The first collection will launch in May 2021 and will be sold through Next's online retail channels as well as through Ted Baker's websites.

The company has also inked a three-year product licence agreement with Baird Group for men's formalwear in the UK, Europe and the rest of the world. The first collection will launch in spring 2021.

Ted Baker says the licence agreement will combine its brand with the benefits of Baird's expertise, scale and vertically-integrated model – and again ensure a more efficient supply chain and a more agile replenishment model than is currently in operation.

Licence partnerships are a key component of Ted Baker's 'Formula for Growth' three-year transformation plan, which is designed to deliver a more profitable, more cash generative and higher return on capital employed business.

"It is a testament to the global strength of the Ted Baker brand that we partner with the leading experts in their relevant categories," said Phil Clark, group commercial and business development director at Ted Baker.

Following the new licence agreements, Ted Baker will have 20 product licence partners globally.

Clothing and homewares retailer Next Plc recently agreed to acquire a majority stake in the UK business of lingerie, loungewear and beauty products retailer Victoria's Secret under a new joint venture.