Ted Baker, the global lifestyle brand, has signed new territory licence deals to enhance digital and asset light growth with Al-Futtaim and PT Mitra Adiperkasa (MAP) for Middle East and North Africa (MENA), and Indonesia respectively. The Al-Futtaim deal includes ecommerce, MENA becoming Ted Baker's first full omni-channel operated by a licence partner.
The Al-Futtaim agreement completely integrates retail, ecommerce and wholesale channels. The enabling of full omni-channel services is a key pillar of the group's transformation plan and alongside the launch of the new ecommerce platform from the end of Q1 2021 marks further progress in creating an even better customer proposition.Ted Baker, the global lifestyle brand, has signed new territory licence deals to enhance digital and asset light growth with Al-Futtaim and PT Mitra Adiperkasa (MAP) for Middle East and North Africa (MENA), and Indonesia respectively. The Al-Futtaim deal includes ecommerce, MENA becoming Ted Baker's first full omni-channel operated by a licence partner.#
Licence partnerships are a key component of Ted Baker's three-year transformation plan which is designed to deliver a more profitable, more cash generative and higher return on capital employed business. Following these new licence agreements, Ted Baker will have 17 retail licence partners and 20 product licence partners across the globe, extending a proven operating model that has supported the group's success as a global lifestyle brand.
Helen Costello, group commercial and business development director at Ted Baker, commented: "We are delighted to be signing these agreements with Al-Futtaim and MAP. Having worked with the Al-Futtaim team for many years, we know they have an excellent understanding of Ted Baker and our customers. Al-Futtaim's experience also means that they are particularly well placed to fully realise the significant growth potential from the accelerating consumer shift to online channels in the region.”
“MAP is the leading retail expert in Indonesia, and they have the right team and experience in place to build on the strong foundations that are already in place. It is a testament to the strength of our brand that we continue to partner with the leading experts in their relevant categories across the world," Costello said.
The new strategic partnership with Al-Futtaim builds on the strength of the existing relationship. Al-Futtaim has operated the retail licence in MENA for more than 13 years. Under the terms of the new 10-year agreements, Al-Futtaim will also have the wholesale and ecommerce rights for the MENA region.
Al-Futtaim currently has 24 Ted Baker stores and concessions across Bahrain, Egypt, Qatar, Saudi Arabia and UAE. Granting the ecommerce and wholesale rights in addition will bring all revenue streams together in MENA and further strengthen the customer experience of the Ted Baker brand in the region. Specific benefits to customers will include alignment of pricing and promotions across channels, and an improved ecommerce proposition with shorter delivery times, and ship-from-store and click-and-collect services.
Al-Futtaim uses its local knowledge and expertise to support brands to replicate their values, ethos, culture and commercial success in its own territories. Established in the 1930s, Al-Futtaim now partners with more than 200 of the world's leading brands in MENA.
Regis Schultz, retail president, Al-Futtaim, commented: "We are delighted to extend our partnership with Ted Baker. Having worked closely with the brand over the past years, we recognise the power of their brand and are confident that we will move it up to the next level with a multi-channel sales approach, keeping the customer at the heart of our business"
Under the terms of the 10-year agreement with MAP, the latter has the retail and selective digital rights for Indonesia. MAP has committed to an ambitious store and concession opening plan and will sell via selective online platforms in Indonesia. This expanded distribution will build brand awareness in the Asian region alongside the five other licence partners and the Group's China JV.
MAP is the leading lifestyle retailer in Indonesia with over 2,600 retail stores and a portfolio of over 150 of the world's leading brands.
Ratih Darmawan Gianda, vice president Investor Relations, Corporate Communication and Sustainability at MAP Group commented: "We are delighted to partner with Ted Baker, a company world-renowned for its stylish and sophisticated offerings. We believe the brand will complement our diverse portfolio and will further unleash the power of MAP's 360° retailing strategy. We are committed to supporting Ted Baker with the same dedication and passion that we have demonstrated to each of our brands."
Fibre2Fashion News Desk (SV)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
