LONDON, Aug 16 — Authentic Brands Group, the US owner of sports clothes marque Reebok and leisure wear maker Juicy Couture, has agreed to buy struggling British fashion group Ted Baker, the pair announced today.Like other bricks-and-mortar businesses, Ted Baker has struggled in the face of fierce online competition before and during the Covid pandemic.
“Ted Baker is a highly regarded, uniquely British brand whose strong fashion credibility resonates with consumers around the world,” ABG chief executive Jamie Salter said in a statement. “We are excited to build on the brand’s global foundation through a business model focused on licensing, wholesale, retail, digital and strategic marketing partnerships.” Ted Baker shares surged 17 per cent in London deals in a move that reflected the offer price. — AFP
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.