Ted Baker has announced plans to open new stores across North America and the Middle East, following a profitable year of trading.
Total sales jumped 20.4% to £387.6 million, with retail sales up 18.4% to £306.9 million. In the UK and Europe sales rose 16.7% to £231.8 million and North American sales were up 24.8% to £63.3 million.
Capitalizing on the company’s success, Founder and Chief Executive Ray Kelvin plans to open new stores and expand the fashion retailer’s line of products by introducing cosmetics, luggage, headphones and a wider range of accessories.
He told the Evening Standard, “We think we hit it out of the park today. It’s always about being a simple business; getting the right product in the right stores and enticing customers to spend money.
“We’re looking at Turkey and the Middle East, where we’re still a small business in terms of footprint, and our business in the US and Canada is very strong.”