Ted Baker has ended its lingerie licencing agreement with Intimas Group by mutual agreement.
The license, which related to the design of Ted Baker lingerie, swimwear and nightwear, which was stocked in Ted Baker stores and the likes of John Lewis, will end in January 2010. However autumn 09 deliveries will continue as normal.
No explanation was given as to why the parties had opted to end the agreement.
Intimas Group brand director Jane Denereaz said: “Intimas have enjoyed a good relationship with Ted Baker since 2005 and our association with them has raised the profile of the Intimas Group.”
Intimas saw its losses narrow to £1.65 million for the six months to June 30 from £2.21m.
Group sales grew 29% to £8.97m, up from £6.97m.
Ted Baker saw its wholesale sales fall back 12.2% to £34.4m for the year ended January 31. The fall was attributed largely to Ted Baker’s action of brand distribution, which has seen it close down accounts with retailers it did not feel suited the brand’s premium positioning.