Ted Baker is to license its Japanese business, which at present is directly operated, to local partner Sojitz Infinity.
The change, effective for the start of October, is designed to accelerate Ted Baker’s long-term growth in Japan.
The deal is likely to bring costs of approximately £4m and is expected to have “a marginally positive impact on pre-tax profit from the current financial year and greater benefit in the further years”. Initially, the tie-up is for five years and is Ted Baker’s 17th retail licence arrangement worldwide.
Ted Baker said: “Infinity will drive the long-term expansion of the Ted Baker brand in the region, combining its local expertise, especially within the department store sector, with the proven buying, merchandising and brand-building expertise of Ted Baker.”
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