E-commerce pushes Ted Baker to strong profits
08 October 2013 - 12:28 by Graham Miller
British fashion brand Ted Baker reported last week that it had increased its profits by almost 50 per cent in the first half of 2013, thanks largely to an increase in sales made via safe shopping online, according to Internet Retailing.
As well as being boosted by e-commerce activity, the company found that it was also experiencing a rise in overseas activities, helping it to make ?11.6 million in profit before tax.
Sales made via safe shopping online were up by 51.6 per cent, bringing the total retail sales increase across all platforms to 30.2 per cent, with company-wide revenue rising by a similar amount.
The success of the company's online activities have prompted Ted Baker executives to authorise the launch of a brand new e-commerce platform for British consumers to use. This should go live before the end of the year, with a statement from the firm revealing that it will also be furthering its multichannel approach to retail, in order to continue increasing sales, both in the UK and elsewhere.
North American sales of Ted Baker products were up by 56.8 per cent this year, while Asian growth was even stronger at 78.6 per cent. Even in the UK, the 22.6 per cent increase in sales was welcome, because although Ted Baker is a well known brand, there is always room for it to steal market share from rivals.
Launching a new online service and opening fresh retail outlets in the UK, China and the US will give Ted Baker the opportunity to cement its continued pattern of growth.
Spokesperson, Ray Kelvin, said that there had been a positive reaction to the brand launching in new markets so far in 2013 and that it bodes well for its ongoing growth internationally.