Baird Group begins Suit Direct expansion and forms Ted Baker brand partnership
Baird Group owned men’s formalwear retailer Suit Direct has agreed terms on three new stores in Leicester, Newcastle and Birmingham.
The openings will take the retailer’s UK store portfolio to a total of 27.
In Birmingham, Suit Direct has taken a lease on a 3,968 square foot store in the city’s New Street while in Newcastle it has signed for a 2,909 square foot unit at MetroCentre. Meanwhile, the new Leicester shop will be situated at the Highcross Shopping Centre.
Josh Howe, associate director in the retail team at Savills Leeds, said: “Well located retail units with high footfall continue to be in demand and the market is presenting good opportunities for good quality retailers. Suit Direct is a fantastic example of a resilient business that has adapted its offer to include more casualwear attracting a wider customer base. This has allowed it to continue to capture market share where other fashion brands have failed.”
In further news, Baird Group has teamed up with Ted Baker on a product licence agreement for men’s formalwear.
Under the terms of the three-year deal, Baird will work with the creative team at Ted Baker to create and distribute men’s formalwear in the UK, Europe and rest of of the world. The first collection will launch in the spring of 2021.
Phil Clark, group commercial and business development director at Ted Baker, said: “We are delighted to be working alongside Baird, a true expert in their field who share our passion for unwavering attention to detail and firm commitment to quality. This partnership simplifies and helps consolidate a key category for us and we hope to apply the experience from our successful North American partnership across these other territories. 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.”
Mark Cotter, chief executive of Baird, added: “We are thrilled to have the opportunity to help build and develop the Ted Baker formalwear business across the UK, Europe and other international markets. We will produce high quality, innovative and stylish products made to the highest quality level expected by the brand. We have admired Ted Baker for many years and recognise the power of their brand. “
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