Ted Baker has signed a deal with Timex Group, under which the licensing business will produce a watch range for the fashion retailer.
Ted Baker founder and chief executive Ray Kelvin said the partnership would allow Ted Baker to “drive accelerated growth in our watch business” in line with its ambitions to develop into a global lifestyle brand.
The collection will launch internationally in summer 2019.
The announcement comes following Ted Baker’s decision to buy back its hugely successful footwear licence from Pentland Brands, which had run the category for 17 years.
Yesterday, the business announced that group revenue increased 3.5% year on year to £306m for the 28 weeks to 11 August. Profit before tax slipped 3.2% compared to the same period last year, to £24.5m. Profit before tax and exceptional items was up 3.5% on 2017 to £25m.