The US fashion and media group Authentic Brands Group (ABG) has separated from the previous European sales partner of its brand Ted Baker.
The collaboration with the Dutch retailer AARC has been terminated, the company said in a statement. Despite financial support from the Authentic Brands Group, AARC did not provide Ted Baker with the promised funds and did not fulfill payment obligations to the group, the reason given was.
According to media reports, the group is planning to restructure Ted Baker in Europe
The Authentic Brands Group took over Ted Baker in the summer of 2022 for 211 million British pounds – around 250 million euros at the time – and outsourced the clothing provider’s operational activities to partner companies as part of its license-based business model. AARC was responsible for the operation of Ted Baker’s boutiques, concession areas and online stores in Europe from the spring of last year until the separation.
The Authentic Brands Group announced that it now wants to continue Ted Baker’s business activities without the involvement of AARC. A new, independent management body has already been appointed. This now has the task of “examining all options to secure the future of the company,” explained the group. According to media reports, the Authentic Brands Group is considering initiating restructuring proceedings together with restructuring experts and closing numerous Ted Baker stores.