real Brands Group, which owns sportswear brand Reebok and leisurewear maker Juicy Couture in the United States, has agreed to acquire struggling British fashion group Ted Baker, the pair announced Tuesday. ABG has signed a deal to buy the 35-year-old company for £211m ($254m).

Like other brick-and-mortar businesses, Ted Baker has struggled in the face of intense online competition before and during the Covid pandemic. “Ted Baker is a uniquely acclaimed British brand whose strong fashion authenticity resonates with consumers around the world,” ABG CEO Jamie Salter said in a statement. I’m in.

“We are pleased to build the brand’s global footprint through a business model focused on licensing, wholesale, retail, digital and strategic marketing partnerships.” It jumped 17% in London trading. — AFP

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