Quirky fashion retailer Ted Baker is targeting China and Japan as it continues its aggressive international drive.
The new territories are on the back of plans to open four stores in the US later this year in Chicago, Santa Monica, Phoenix and New York.
It is will also open a store in Sydney, Australia, and one in Abu Dhabi in the United Arab Emirates with its joint venture partners by the year end.
Ted Baker founder and chief executive Ray Kelvin said the focus for the next few years will be the overseas markets. “We’re planning a big roll-out in China and Japan in the coming years,” he said, adding the countries offer “big opportunities”.
China is a big market for retailers, with companies such as Monsoon, Mothercare and Zara taking space there. Monsoon is understood to be plotting the roll-out of as many as 1,000 stores in China in the next five years.
Kelvin said the retailer also wants to expand in Hong Kong from two to seven shops by next year.
In April Ted Baker opened a store in the Dubai Marina Mall with its territorial licensee RSH.
Ted Baker this week posted a 20.4% rise in retail sales for the 19 weeks to June 12. Wholesale sales increased 8.2%. Total sales for the period climbed 18%.
The retailer said gross margins and the increase in wholesale sales were in line with expectations.
Ted Baker said in a statement that while the company remains “mindful of the uncertain economic environment” it believes it is “well positioned to deal with the challenges ahead”.