Edition:
India

Ted Baker Appoints Japanese Retail Licence Partner


Wednesday, 28 Aug 2019 

Aug 28 (Reuters) - Ted Baker PLC ::APPOINTMENT OF JAPANESE RETAIL LICENCE PARTNER.ANTICIPATED TRANSACTION RELATED COSTS OF APPROXIMATELY £4M, OF WHICH APPROXIMATELY £3M ARE ANTICIPATED TO BE IN CASH.ENTERED AN AGREEMENT WITH SOJITZ INFINITY TO CREATE AN EXCLUSIVE RETAIL LICENCE DEAL FOR JAPAN, INITIALLY FOR FIVE YEARS.INFINITY WILL DRIVE LONG-TERM EXPANSION OF TED BAKER BRAND IN JAPAN.EXPECTED THAT NEW OPERATING MODEL TO HAVE MARGINALLY POSITIVE IMPACT ON PRETAX PROFIT FROM CURRENT YEAR, GREATER BENEFIT IN FURTHER YEARS.INFINITY INTENDS TO BUILD ON GROUP'S EXISTING STORE PORTFOLIO, EXPAND CONCESSION NETWORK AND INVEST IN TED BAKER'S ONLINE PRESENCE.WILL TRANSFER CERTAIN EXISTING ASSETS RELATING TO ITS JAPANESE BUSINESS TO INFINITY AT NIL VALUE.APPOINTMENT OF LICENCE PARTNER WILL BE ACCRETIVE TO GROUP PRE-TAX PROFIT IN CURRENT FINANCIAL YEAR.POSITIVE IMPACT OF PROFIT WILL INCREASE DURING FURTHER YEARS OF CONTRACT.