Ted Baker’s retail and ecommerce operator for UK and European operations has obtained a long-term secured asset-based facility, which it says will provide a “platform for growth” for the fashion retailer.
The operator, No Ordinary Designer Label Limited, part of the AARC Group, secured the facility from specialist asset-based lender, Secure Trust Bank Commercial Finance.
The facility will provide a platform to continue strengthening Ted Baker’s retail presence in the UK under the AARC Group, which acquired the license earlier this year.
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Last year Ted Baker was snapped up by US conglomerate Authentic Brands Group for £211m.
This June, AARC Group then became the retail operator of Ted Baker stores, concessions and tedbaker.com in the UK and Europe.
No Ordinary Designer Label Limited and AARC Group CEO Carlos Radulovitch said: “After securing the licence to Ted Baker operations in the UK & Europe, we’re focused on revitalising the business to its full potential and we are pleased to have secured a partnership with retail specialists Secure Trust and Modella to join us on this journey to growth.
“We are optimistic about Ted Baker’s bright future, working collaboratively with Authentic and the wider network of Ted Baker licensees.”
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