Ted Baker operates more than 370 freestanding stores.
Authentic Brands Group has added another apparel brand to its ever-growing portfolio.
The U.S. brand owner and management firm, which completed its purchase of Reebok earlier this year, said that it has completed the acquisition of British lifestyle brand Ted Baker. Announced in August, the deal is valued at about 211 million pounds ($254 million).
Founded in 1987, Ted Baker put itself up for sale in April. The brand offers a wide range of fashions and accessories for men and women across a variety of categories and is available in 370 freestanding stores, along with shop-in-shops and concessions worldwide.
The company hasn’t had an easy time in recent years amid accounting and management troubles and other challenges. Ted Baker founder and CEO, Ray Kelvin, resigned in 2019 amid misconduct allegations.
“We are excited to welcome Ted Baker to the Authentic family,” said Jamie Salter, founder, chairman, and CEO of ABG. “This uniquely British brand enhances our fashion portfolio and further reinforces ABG’s brand presence in the U.K., Europe, and the Middle East. The purchase of Ted Baker is in line with our strategic focus on growing and diversifying the portfolio through the acquisitions of brands that originate from outside of the U.S.”
In February, ABG opened its London-based European headquarters to establish a dedicated focus on building brand value across EMEA. With the acquisitions of Reebok and the David Beckham brand made earlier this year, and now Ted Baker, ABG’s portfolio of more than 50 lifestyle, entertainment, and media brands has reached $24 billion in annual system-wide retail sales with distribution in more than 150 countries.
As it has done with other acquired brands, ABG will convert the Ted Baker business into a licensed business model. The company is in discussions with operators in key regions to manage the manufacturing, physical retail, e-commerce, and wholesale operations of the Ted Baker business.
Headquartered in New York City, with offices around the world, ABG’s portfolio of brands includes Reebok, Eddie Bauer, Brooks Brothers, Nautica, Forever 21 Izod, Lucky Brand, Aéropostale, Juicy Couture, Nine West, and more.