Authentic Brands Group, the US owner of sports clothes marque Reebok and leisure wear maker Juicy Couture has signed a deal to buy the 35-year old struggling British fashion group Ted Baker for £211 million ($254 million).
Like other bricks-and-mortar businesses, Ted Baker has struggled in the face of fierce online competition before and during the Covid pandemic.
Jamie Salter, CEO, ABG says, Ted Baker is a highly regarded, uniquely British brand whose strong fashion credibility resonates with consumers around the world, Its association with ABG will help build on the brand's global foundation through a business model focused on licensing, wholesale, retail, digital and strategic marketing partnerships.
