Ted Baker thrives in Middle East
Wednesday 11 June 2014
Ted Baker is finding success in some of the most unlikely locations across the world, according to the fashion brand's chief executive, Ray Kelvin.
"Egypt is doing surprisingly well and we've just opened successfully in Saudi Arabia. Business is very strong in the Middle East," Mr Kelvin said yesterday. However, Ted Baker's founder added that because of the unrest in Egypt he had been unable to visit the store.
The company saw sales jump 17.9 per cent in the 19 weeks to last Saturday. Retail sales were up 15.8 per cent as new stores added 9.5 per cent extra floor space to its portfolio. Online sales were up 48.1 per cent.
Expansion into crockery, luggage and headphones has helped sales to rise as the retailer expands beyond its original business selling men's shirts.
Ted Baker has added a second store in Glasgow (the first time it has opened a new site in Scotland's biggest city since the original Ted Baker store opened there in 1988), along with sites in Philadelphia, California and Heathrow's new Terminal 2.
The warm winter, which covers yesterday's trading period, failed to hit sales, according to Mr Kelvin, as the company held over some autumn stock which sold well.
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