Ted Baker, the renowned fashion retailer, has made a significant move in its footwear operations by bringing them in-house through the acquisition of the UK and US operations of No Ordinary Shoes. This decision follows the company’s reclaiming of its footwear license from Pentland, its former licensee, for a substantial sum of up to £21 million. After 17 years of partnership, this acquisition marks a new chapter for Ted Baker in the footwear industry.
Pentland Group, which held the exclusive global license for Ted Baker footwear since 2001, will no longer have this privilege as Ted Baker takes over the UK and US operations of No Ordinary Shoes. With reported sales of nearly £40 million last year, Ted Baker plans to use its existing bank facilities to finance the purchase of these operations, signaling a strong commitment to its footwear business.
Ray Kelvin, the founder and CEO of Ted Baker, expressed his gratitude to Pentland for their years of dedication and hard work. He views the acquisition as a promising opportunity to further enhance the brand’s footwear business by leveraging its global infrastructure. Ted Baker’s goal is to elevate the brand into a global lifestyle icon in alignment with its strategic objectives.
Richard Newcombe, Global President of the Footwear Division at Pentland, reflected on the growth and success achieved through the partnership with Ted Baker. He highlighted an outstanding 800% increase in the footwear category under Pentland’s leadership and extended best wishes for Ted Baker’s future endeavors. Pentland acknowledges the vital role its team played in contributing to Ted Baker’s rise in the market.
In essence, Ted Baker’s acquisition of No Ordinary Shoes underscores its unwavering commitment to expand and reinforce its foothold in the footwear market. By capitalizing on its global capabilities, Ted Baker is well-positioned to drive further growth in its footwear business and solidify its position as a leading global lifestyle brand.
To learn more about Ted Baker and its acquisitions, visit their official website here. For insights into the footwear industry trends, check out this informative article here.
