Yesterday morning, the fashion world woke up to some sad news as Ted Baker’s overarching owner, Authentic Brands, who also owns the likes of Reebok, Juicy Couture and Forever 21, announced that the Scottish-founded brand has officially appointed administration.
Ted Baker was founded back in 1988 and was seen as a pioneer in the fashion sphere. Known for its preppy tailored suiting, eye-catching floral prints and signature bow motifs, the unisex brand made an international name for itself and has been donned by the likes of Amal Clooney, Zendaya, Demi Lovato and Kendall Jenner.
© Instagram / @tedbakerTed Baker was bought by the American brand management company, Authentic Brands, back in 2022 for £211m and currently operates 46 stores across the UK and Europe, while employing more than 900 staff. Authentic Brands has said that the brand will continue to operate both online and via the 46 UK and European brick-and-mortar stores pending the administration process.
John McNamara, chief strategy officer for Authentic Brands Group, said in a statement “We wish that there could have been a better outcome for the Ted Baker employees and stakeholders. It is hopefully some consolation for customers that NODL will continue to trade online and in stores.”
© Karwai TangExperts say that even before the pandemic hit, the brand had been struggling for quite some time, failing to keep up with new and existing competitors in the ready-to-wear fashion world.
The news comes just a month after The Body Shop, another respected home-grown brand, announced its administration, agreeing to sell its 250 UK stores. The tumultuous news comes as a surprise to many, leaving other notable British-born high-street retailers questioning their own longevity as the modern fashion realm continues to change at a rapid pace.
