Sycamore Partners-PE group, eyes at buying Ted Baker
22 March 2022, Mumbai:
Sycamore Partners, an American private equity group, is interested in purchasing Ted Baker, a British apparel company.
Sycamore Partners claimed in a statement to the press that it is in the early stages of exploring making a cash bid for the apparel business.
However, the US retail investor must indicate whether it intends to make a solid bid or walk away by April 15th (5 p.m.).
Meanwhile, under the leadership of Rachel Osborne, Ted Baker is in the midst of a three-year recovery plan.
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The goal is to improve the company's image and profitability after some recent setbacks, which included the departure of founder Ray Kelvin.
The fashion firm recently had a 35 percent increase in Q4 sales, which was 18 percent higher than Q3 sales.
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CREDITS: Retail Week & Apparel Resources.
