LONDON — Authentic Brands Group said Thursday it has inked long-term strategic deals with two new operating partners, PDS Group and AARC, to run the Ted Baker brand in the U.K. and Europe.
PDS, a design-led fashion sourcing and manufacturing platform, will become a “core licensee and operating partner” for Ted Baker through a global subsidiary, Authentic said.
It will serve as the “global hub” for the newly established Ted Baker Design Group and take on design and merchandising functions for the brand. It will be located at Ted Baker’s current London headquarters at 101 Cleveland Street in London, and oversee all design, development and product innovation.
Ted Baker’s global distribution partners will purchase the brand’s core categories from Ted Baker Design Group, including men’s and women’s sportswear and outerwear, men’s dress shirts, women’s dresses and fashion handbags.
Additionally, the group will service wholesale accounts in the U.K. and Europe.
Authentic has also signed a partnership with AARC to operate Ted Baker’s 120-plus retail stores and concessions, and the brand’s online business. AARC is a retail operator in 11 countries across Europe, the Middle East and Africa.
As a result of the changes, Rachel Osborne, CEO of Ted Baker, along with other senior executives, will step down from their roles.
“This change is part of a broader transformation process as Ted Baker shifts toward Authentic’s licensing model, which partners with leading operators to optimize brand value in the marketplace,” said Authentic.
Other senior executives who will depart from Ted Baker include chief financial officer Marc Dench, chief people officer Peter Collyer and group commercial, and business development director Helen Costello.
“I would like to thank all our colleagues at Ted Baker for their enduring support and commitment during our tenure at the business. Ted Baker remains an iconic name with global brand recognition and we feel privileged to have helped the business through this transition period,” said Osborne.
John McNamara, chief transition officer at ABG, said Ted Baker Design Group is derived from the model “through which we have seen great success with Reebok. The formation of [Ted Baker Design Group], supported by the expertise of PDS, AARC and Authentic, positions the brand for continued growth and expansion around the world.”
