Reebok-owner ABG agrees to purchase vogue group Ted Baker

Genuine Manufacturers Group, the US proprietor of sports activities garments marque Reebok and leisure put on maker Juicy Couture, has agreed to purchase struggling British vogue group Ted Baker, the pair introduced Tuesday. ABG has struck a deal to purchase the 35-year-old firm for £211 million ($254 million).

Like different bricks-and-mortar companies, Ted Baker has struggled within the face of fierce on-line competitors earlier than and throughout the Covid pandemic. “Ted Baker is a extremely regarded, uniquely British model whose robust vogue credibility resonates with customers around the globe,” ABG chief government Jamie Salter mentioned in an announcement.

“We’re excited to construct on the model’s international basis by way of a enterprise mannequin centered on licensing, wholesale, retail, digital and strategic advertising partnerships.” Ted Baker shares surged 17 p.c in London offers in a transfer that mirrored the supply worth. — AFP

 

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