Ted Baker names Next as new lingerie and nightwear licence partner
As part of the three-year product licence agreement, Next will create and distribute Ted Baker’s lingerie and nightwear collections, known as B by Ted Baker, in partnership with the team at Ted Baker.
The first B by Ted Baker collection with Next will launch in May 2021 and will be available to buy via Next's online retail channels and through Ted Baker's websites.
The brand has previously teamed up with Next on its childrenswear range, which launched in spring 2020.
Next CEO, Simon Wolfson said: “Next is delighted to be involved in developing the Ted Baker lingerie and nightwear business across the globe, building on our childrenswear collaboration announced last year.”
“We have worked with Ted Baker for a number of years through our Label business and we are excited to extend our collaboration with this world class brand.”
Ted Baker now has 20 global product licence partners and said that these licence partnerships are a "key component" to its "Formula for Growth", the brand’s three-year transformation plan launched this summer.
The three-year transformation is aimed at delivering a more profitable, cash generative and higher return on capital employed, business.
Group commercial and business development director at Ted Baker, Phil Clark commented: “We are delighted to be signing this licence agreement with Next. We have worked together for many years and know they share our passion for unwavering attention to detail and firm commitment to quality."
“It is a testament to the global strength of the Ted Baker brand that we partner with the leading experts in their relevant categories. As we continue to rationalise and enhance our product license portfolio, this new partnership is another step in transforming our business and returning Ted Baker to growth.”
The signing follows on from a deal earlier this month in which Next secured a joint venture deal for the UK arm of US lingerie business.