Ted Baker forges licencing deal in Japan with Sojitz Infinity

  • Wed 28 Aug 2019 07:14

    Fashion retailer Ted Baker said it had agreed to an exclusive licence deal in Japan with Sojitz Infinity.

    Initially lasting five years, the arrangement would see Infinity drive the long-term expansion of the Ted Baker brand in the region.

    It would apply its local expertise, especially within the department store sector, with Ted Baker's buying, merchandising and brand-building capabilities.

    Ted Baker said it would transfer certain existing assets relating to its Japanese business, such as non-current stock, fixed assets and leases, to Infinity at nil value.

    As a consequence, it anticipated exceptional transaction-related costs of around £4m including onerous lease expenses, restructuring charges and deal-related costs.

    The non-cash charges of around £1m would include the transfer of non-current stock and fixed assets.

    Ted Baker said it expected the licence to commence on 1 October and bring its licence partners across the globe to 17.

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