Ted Baker is closing its British stores in the coming weeks, following similar decisions on other European countries. The brand wants to reinvent itself with a new concept.
Problems since March
Hundreds of British employees have already been told they will lose their jobs, even though the news is reportedly not yet official. The fashion brand’s British retail branch went bankrupt in March, after which the label also faltered internationally. The brand’s stores in Belgium, the Netherlands and Spain have also been closed, and its European retail divisions went into receivership
Brand owner Authentic Brands wants to continue the label, but is looking for new operating partners to do so. A deal seemed close in May, but by then it was already clear that Ted Baker might continue without its own stores and aim only at shop-in-shops, wholesale and e-commerce.
The clothing brand is following the path of Esprit and The Body Shop: whereas brands until recently focused on their own retail branches with large flagship stores, those expensive brick-and-mortar stores are now increasingly being phased out. Even Nike is trying to re-establish ties with its wholesale partners, after having cutting them with much fanfare.
