Fashnopsis:
- Retail Rescue? Frasers & Next eye buying Ted Baker’s struggling European business after its retail arm went bust.
- Acquisition History Both companies are known for acquiring troubled fashion brands.
- Uncertain Future Ted Baker’s European fate unclear as owner blames Dutch partnership for problems.
Two major British retailers, Frasers Group and Next, are reportedly considering a bid to acquire parts or all of Ted Baker’s struggling European business. This news comes just weeks after No Ordinary Designer Label (NODL), the arm handling Ted Baker’s retail and online sales in Europe, entered administration.
According to a Times report, both companies have contacted administrators at Teneo Advisory to express their interest. The report suggests a potential purchase of the entire European operation or specific sections.
This wouldn’t be the first time for either Frasers or Next to swoop in on a troubled fashion brand. Both have a history of acquiring struggling companies. Notably, Next has established partnerships with brands like Gap and Victoria’s Secret, while already holding the licensing rights for Ted Baker’s kidswear, nightwear, and lingerie.
Next boasts a portfolio of established names like Reiss, Joules, FatFace, Cath Kidston, and JoJo Maman Bébé. Frasers Group, on the other hand, has acquired labels including Gieves & Hawkes and Jack Wills. However, their track record is mixed, with some acquisitions like Missguided being sold on, while others like Matchesfashion have been closed or entered administration. They also hold significant stakes in Boohoo Group and ASOS.
The reported interest in Ted Baker follows the administration of NODL, attributed by Authentic Brands Group (Ted Baker’s ultimate owner) to “insurmountable problems” stemming from the company’s partnership with Dutch firm AARC.
It’s important to note that other parts of the Ted Baker business, such as PDS Group (UK and European designer, supplier, and wholesaler) and North American operating partner OSL, remain unaffected by the administration.
Neither Frasers nor Next have officially commented on the reports.
Also Read: Ted baker set to shut 11 stores, seeks new operator
Image Credits: Ted Baker
