London-based fashion brand Ted Baker has “truly become global” according to its boss as it reported a 26.7% pre-tax profit jump to £40 million.
Ray Kelvin, founder of the quirky group, said the full-year results showed it has been performing well across all its markets with wholesale up 35% and website sales ahead by 55.7%. Group sales soared 26.5% to £321.9 million.
Kelvin said: “Not many brands that wholesale and retail have cracked America and we have. We have done reasonably well in all territories that we have opened in. We are now truly becoming a global brand.”
The results were in line with City expectations and it said it had a good reaction to its spring/summer ranges.
The brand now has 362 stores and concessions worldwide including Turkey, China and Australia. Kelvin said its Panama store is a test bed for further Latin America expansion, but plans for Russia are on hold due to the current political issues.
