The US fashion and media group Authentic Brands Group LLC (ABG) is making a radical change at the British brand Ted Baker, which it took over last autumn. On Thursday, the group announced that key executives would be leaving the apparel maker. In addition to CEO Rachel Osborne, Chief Financial Officer Marc Dench, Chief People Officer Peter Collyer and Group Commercial and Business Development Director Helen Costello are also leaving Ted Baker. The group thus confirmed corresponding media reports.
The group of companies announced that the personnel decisions were made as part of the transition from Ted Baker to ABG’s license-based business model. In the meantime, the group has continued to drive this change forward. After the brand’s North American business had already been taken over by the Canadian retail service provider OSL, ABG announced new partners for the British label’s further important global and regional activities on Thursday.
As part of a long-term partnership, the Indian clothing group PDS Limited will be responsible for key global functions of Ted Baker, such as the core areas of design and merchandising, via a British subsidiary. As part of the collaboration, PDS and ABG formed the Ted Baker Design Group (TDG), which will move into the brand’s existing headquarters in London. The new company will take over Ted Baker’s product development in all major categories and will supply the brand’s global distribution partners in the future. The new company will also operate Ted Baker’s wholesale business in the UK and the rest of Europe.
ABG also presented a new partner for the brand’s own retail business in Europe. AARC, a subsidiary of the retail group Amarla, will operate the more than 120 European stores and concession areas of Ted Baker as well as the regional online shop.