Ted Baker will open stores in Mexico and Hawaii following its success in the US as the fashion retailer widens its reach abroad.
The retailer, which has 416 store, concessions and outlets worldwide, is launching two concessions in Mexico City at luxury department stores Liverpool and El Palacio De Hierro. The first opened in El Palacio De Hierro yesterday (October 5) and the second will open imminently.
It also revealed plans for a store and concession in Hawaii, which will open by the end of the year.
The expansion plans came as Ted Baker announced strong results for the half year to August 15. Retail sales rose 20.1% to £168.2m driven by a sharp increase in ecommerce, up 63.6% to £22.9m, and thriving sales in the US, which recorded a 37.4% increase to £39.7m. Group sales surged 24.5% to £226.8m.
Ray Kelvin, Ted Baker chief executive and founder, said its continued success is due to its focus and “doing things better today than we did yesterday”. He added: “It is down to a whole gamut of reasons: getting the product right; having a terrific brand, having good stores in the right locations.”
Further international expansion
The retailer will continue to expand its footprint in the North America, where it has four stores and four concessions, with further openings on the West Coast.
Further openings are planned for China where it has three full-price stores and a concession, despite concerns about the softening economy and a slowdown in consumer spending. Stores will open in Shanghai and Beijing over the coming year. It is also launching an outlet in South Korea.
Following the unveiling of a shop at Stansted Airport earlier this summer, it has plans for just one further concession in UK and is preparing the launch of a daywear collection for women for spring 2016.
A raft of licensee stores are poised to open in Azerbaijan, Dubai, Qatar, Saudi Arabia, Taiwan and Thailand in the coming months.