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Ted Baker

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For other people named Ted Baker, see Ted Baker (disambiguation).
Ted Baker plc
Company typePublic limited company
LSE: TED
ISINGB0001048619 Edit this on Wikidata
IndustryApparel stores
FoundedGlasgow, Scotland (1988)
FounderRay Kelvin
Headquarters
London
,
England
Key people
Rachel Osborne
(Chief Executive Officer)
John Barton
(Chair)
ProductsMen's clothing, Women's clothing, Children's clothing
RevenueIncrease £617.4 million (2019)[1]
Decrease £54.5 million (2019)[1]
Decrease £40.7 million (2019)[1]
Websitewww.tedbakerplc.com (corporate)
www.tedbaker.com (retail)

Ted Baker plc is a British luxury clothing retail company. It is listed on the London Stock Exchange.

History

Founder Ray Kelvin, who named the company after a self-styled alter ego, an “intrepid aviator, an all-round sportsman and the consort of princesses and Hollywood beauties”,-[2] started his first store in March 1988 in Glasgow, and opened further stores in Manchester, and Nottingham.[3] In 1990 Ted Baker opened a store in Covent Garden (with additional stores in London's Soho, Nottingham and Leeds) and Kelvin bought the company outright from part-owners Goldberg and Sons.[3] A new range, Ted Baker Woman, was launched in 1995.[3]

The company purchased its headquarters in London for £58.25 million in summer 2017.[4]

Retail stores and outlets

Ted Baker store, Brompton Road, London in 2016
Ted Baker store in Toronto

Ted Baker has a number of stand-alone stores in the UK. The Ted Baker range is also sold by other retailers (which it refers to as Ted Baker Trustees), in particular in stores of the John Lewis Partnership and House of Fraser. Ted Baker also has stores at Bicester Village Retail Outlet, Swindon Designer Outlet, Portsmouth's Gunwharf Quays and Cheshire Oaks Designer Outlet. There is a Ted Baker concession in all Selfridges & Co stores; London, Birmingham, Manchester and the Trafford Centre.[3]

Ted Baker has stores and outlets in the rest of Europe, the United States, Canada, Australia, Asia, South Africa and the Middle East. It opened a store on Fifth Avenue in New York City in August 2012.[5]

As of 2018, Ted Baker has 490 stores and concessions worldwide: 192 in the UK, 98 in Europe, 111 in the US and Canada, 80 in the Middle East, Africa and Asia and 9 in Australia.[6]

In April 2020, Ted baker furloughed nearly 2,000 employees, including head office staff, due to the COVID-19 crisis. The company has also suspended non-essential capital expenditure and halted any discretionary operating expenses.[7]

Wholesale operations

Ted Baker has expanded its high street presence through its wholesale business which includes Australia, New Zealand, the United States, Canada, Norway, Greece, Spain, the Netherlands, Belgium, as well as the British Isles. Wholesale operations commenced in 1994 through careful selection of retail stores.[3]

Governance

In response to an online petition started by a former employee alleging that Ray Kelvin, who was then the company's chief executive, had hugged employees inappropriately,[8][9] it was announced on 7 December 2018 that Kelvin was taking voluntary leave of absence from the company while the allegations were investigated and that Lindsay Page would act as chief executive.[10][11] On 4 March 2019 it was announced that Kelvin had resigned and would be leaving the company immediately.[12] Poor trading figures led to Page and executive chairman David Bernstein stepping down from their roles, and Rachel Osborne being appointed acting CEO, in December 2019.[13][14]

References

  1. ^ a b c "Annual Report & Accounts 2018/19" (PDF). Ted Baker. Retrieved 3 October 2019.
  2. ^ Gurpreet Narwan (22 July 2019). "Former boss ready to dress Ted Baker for private party". The Times.
  3. ^ a b c d e "Our Timeline". Ted Baker. Retrieved 16 December 2011.
  4. ^ "Is there more growth from Ted Baker after 2,300% return in 20 years?". Walbrock Research. 6 June 2017. Retrieved 6 June 2017.
  5. ^ Thompson, James (12 June 2012). "Jubilee celebration gives Ted Baker a lift". Evening Standard. Retrieved 12 June 2012.
  6. ^ "Preliminary Results 2018" (PDF). Ted Baker. Retrieved 30 March 2018.
  7. ^ Fish, Isabella; Whelan, Grace (3 April 2020). "Ted Baker furloughs 75% of workforce". Drapers. Retrieved 24 April 2020.
  8. ^ "Ted Baker staff launch petition over 'forced hugging'". BBC News. 2 December 2018. Retrieved 2 December 2018.
  9. ^ "Scrap the forced 'hugs' and end harassment at Ted Baker". Organise Platform. Retrieved 30 November 2018.
  10. ^ "Chief Executive Officer – Leave of Absence" (Press release). London: Ted Baker plc. 7 December 2018.
  11. ^ "Ted Baker boss takes leave of absence". BBC News. 7 December 2018. Retrieved 7 December 2018.
  12. ^ "Ted Baker founder Ray Kelvin resigns amid 'forced hugging' row". BBC News. 4 March 2019. Retrieved 30 December 2019.
  13. ^ Prynn, Jonathan (10 December 2019). "Nightmare before Christmas for Ted Baker as top bosses quit after profits take a nosedive". Evening Standard. Retrieved 30 December 2019.
  14. ^ "Ted Baker bosses quit as it warns over profits plunge". The Guardian. 10 December 2019. Retrieved 30 December 2019. {{cite news}}: Unknown parameter |authors= ignored (help)
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