China buoys Ted Baker
China has helped drive a solid half year for men’s fashion retailer Ted Baker.
The UK-based chain has been rolling out concessions in the mainland with a local partner. That helped the company’s average retail square footage to rise by 8.5 per cent over the period to reach 386,252 sqft. Store openings in Indonesia – and its newest market, Bahrain – also helped.
Additionally Ted Baker’s website now delivers to over 200 countries with the retailer rolling out language specific websites – helping to drive impressive online growth and broaden its global reach.
Fiona Paton, an analyst with Verdict Retail, describes Ted Baker as a go-to destination for Christmas gifting and self-treating due to its stylish designs, distinctive collection of partywear and its range of high-quality accessories and leather goods which appeal to aspirational shoppers. “It is therefore no surprise that Ted Baker has reported another impressive performance this Christmas.”
UK retail sales will benefit from Ted Baker’s increasing international brand awareness, as the retailer becomes front of mind among tourists wanting to take advantage of the weaker pound and buy into British brands and premium goods while visiting the UK, says Paton.
“Over the next five years menswear is going to be the fastest-growing clothing sector in the UK. Ted Baker benefits from a unisex brand appeal so should capitalise on this and invest in its menswear proposition to increase its appeal among new 25-34 year old shoppers looking to graduate from Topman and River Island, and who are prepared to spend more on their clothing.”
She says refreshing its designs and increasing the frequency of newness in collections will also help protect Ted Baker against emerging competitors, such as Superdry, which launched a premium menswear collection with Idris Elba in 2016, Whistles and Jigsaw.