British fashion brand Ted Baker is planning Asian and US expansion as it braces for modest growth in the UK.

Ted Baker plans to open its first store in Japan in March, first store in China in June and flagship store in Fifth Avenue, New York in the middle of the year.

“A lot of our growth is coming from overseas, especially the US and south-east Asia which should do very well this year. That’s where we’ll see above-average growth,” said Lindsay Page, Ted Baker’s finance director.

‘We are already very strong in Hong Kong and we want to expand in (mainland) China,” Page said.

The fashion chain has also reported a 15.7 per cent sales surge from November 13 to January 7 and an increase in its retail space of 7.4 per cent.

“The group has delivered an excellent result over the Christmas trading period. In a challenging trading environment, this performance is a testament to the strength of the Ted Baker brand, our collections and people,” said CEO Ray Kelvin.

However, there is no scope for the company to relax, he said; it must be more mindful of the wider macroeconomic uncertainty instead.

Ted Baker has 24 stores across Europe, 15 in the US and 23 in Asia, Australia and Middle East. It will open a new store in Brompton Rd, London in May.

GB