Authentic Brands Group has announced the signing of long-term strategic partnerships with two new operating partners for Ted Baker’s business in the UK and Europe.
Manufacturing and sourcing platform PDS Group will become a core licensee and operating partner for the brand via a UK subsidiary, which will serve as the global hub for the newly established Ted Baker Design Group (TDG).
The firm will take on the label’s design and merchandising functions from a London headquarters, while servicing global distribution partners and wholesale accounts in the UK and Europe.
Speaking on the partnership, Pallak Seth, executive vice chairman of PDS, said in a release: “We are looking forward to welcoming Ted Baker, a distinctive British lifestyle brand to PDS and joining Authentic’s global partner network.
“Authentic’s proven brand model, which will leverage their expertise in brand development and PDS’s design and product development capabilities, will position Ted Baker for its next phase of growth in the UK and Europe.”
Next to this, Authentic has further established an agreement with AARC to operate Ted Baker’s 120-plus retail stores and concessions, as well as its e-commerce site, across the UK and Europe.
Ted Baker confirms CEO and exec departures
The news comes as Ted Baker announced a number of its senior executives and its CEO Rachel Osborne were stepping down from their roles at the brand.
Authentic said the changes were a part of “a broader transformation process” in the move towards adopting the group’s own licensing model throughout Ted Baker, centred around striking up partnerships with operators in order to push brand value.
Other senior executives set to depart include chief financial officer Marc Dench, chief people officer Peter Collyer and group commercial and business development director Helen Costello.
In a statement, Osborne said: “On behalf of myself, Marc, Peter and Helen, 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. We’re glad to be leaving the business in good hands with a committed group of leaders at Authentic, PDS and AARC, and we’ll do everything in our power to set these new partnerships up for the greatest of success.”