The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Shares in Ted Baker rose 3.1 percent on Monday following a report that Juicy Couture owner Authentic Brands is the British fashion chain’s preferred bidder and that the two firms could agree on a £300 million ($379.35 million) deal.
Ted Baker put itself up for sale in April, and last week said it had picked a preferred suitor to take forward the process after a flurry of revised proposals.
Sky News reported on Saturday that Authentic Brands has indicated it is willing to pay more than 150 pence per share for the company. At their peak in 2015, shares of Ted Baker were trading at 2,972 pence apiece.
Ted Baker and Authentic Brands did not immediately respond to Reuters requests for comment.
ADVERTISEMENT
Known for its suits, shirts and dresses with quirky details, Ted Baker is in the middle of a turnaround plan and had rejected several bids from private-equity group Sycamore before launching the sale process.
Last week, Ted Baker posted a smaller annual loss and pointed to robust sales in the coming months as demand for office and leisure wear rebounds.
Learn more:
Ted Baker Annual Loss Narrows as Pre-Covid Lifestyles Return
Ted Baker’s underlying pretax loss for the 52 weeks ended Jan. 29 stood at £38.4 million ($48.34 million) compared with a loss of £59.2 million a year ago, with sales in the first quarter of the current year rising 20 percent year-over-year.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.