Ted Baker, the quirky lifestyle retailer and brand, is expected to expand its retail offer into India in 2012.
Over the past 12 months, Ted Baker has made its debut in Australia, where it has two stores, and opened two more US stores, bringing its total in the country to nine. Unlike rival French Connection, which announced this month that it would scale back its US exposure, it is upping its US presence and plans to open four new stores in the country this year.
“We can’t do everything at once,” said Ted Baker founder and chief executive Ray Kelvin, who added that Ted Baker would probably open in India with a partner.
Over the period the company said trading conditions in the US were “difficult”. However, Kelvin added: “The economy was struggling and that became our opportunity to get the right locations and that is why we are pushing ahead.”
In the year to January 30, pre-tax profits at Ted Baker advanced 3.6% to £20.3m, while total sales climbed 7.2% to £163.6m. Although in line with expectations, total wholesale sales at the business fell 21.2% to £27.1m.
The business attributed a quarter of the wholesale sales decline to the transfer of some accounts to retail concessions, a third due to the closure of accounts, and the rest to difficult trading conditions hitting a number of its stockists.