International expansion helps sales at designer clothing brand Ted Baker
October 5, 2012, 3:40 pm TWN
LONDON -- British designer clothing brand Ted Baker reported a 15 percent rise in first-half revenue, helped by strong sales in the United States as it seeks to grow out of a sluggish European market.
Many European retailers have struggled as household budgets have been squeezed by inflation, muted wages growth and government austerity, but Ted Baker has notched up solid growth by tapping fast-growing demand in the U.S. and Asia, recently opening new stores in New York, Tokyo and Beijing.
The company, which started as a menswear brand in Glasgow in 1987 and now has nearly 300 stores and concessions worldwide, said on Thursday U.S. retail sales were up 53 percent to US$25.6 million, on total revenue of 118.6 million pounds (US$191 million).