British fashion brand Ted Baker performed well in its fiscal year 2016, with turnover and profit growth, particularly in North America.
Asian expansion
Ted Baker’s total turnover reached 531 million pounds (616 million euro) in 2016, up 16.4 % compared to the year before. Its EBITDA also jumped 12.1 % to 65.8 million pounds (76.3 million euro).
The United Kingdom and Europe are still its largest market, with a 10.7 % turnover increase to 279 million pounds (323 million euro), but its North American growth was even more impressive, up 28 % to 103 million pounds (119 million euro).
Ted Baker’s online sales channel is also becoming more valuable, with a 35.1 % turnover increase to 72 million pounds (83 million euro), almost 20 % of its total retail turnover. Wholesale turnover also grew 20.9 % to 130 million pounds (124 million euro).
For its current fiscal year, Ted Baker will invest in new markets in Asia, where it is currently only available in Tokyo, Japan. Over the course of the past year, it opened stores in Dubai, Egypt, Mexico and Taiwan among other places. France, Germany and the Netherlands should also welcome new stores this year.
