Sep 6, 2021
Ted Baker is continuing its turnaround with news that it’s linking up with Secret Sales to launch its
first 'always on' UK digital outlet, “enabling it to sell prime aged stock away from its website in a brand-enhancing and profitable way”.
The company said it has created a new long-term non-full-price strategy, “adopting an innovative approach to selling excess inventory”.
Currently listing around 800 such lines, Ted Baker has named Secret Sales as its sole off-price marketplace channel. It retains full control of its brand on Secret Sales, “owning the product selection, pricing, images and copy and working in partnership on trading and marketing plans”.
It has also “digitally connected its supply chain and inventory systems to the platform to trade efficiently in real time, without the need to physically move stock to a third-party seller”.
The company’s Head of Commercial Stock, Gavin Richards, said it’s “a natural extension of our e-commerce operation, allowing us to sell surplus stock while supporting cash generation and retaining brand equity. By giving shoppers the option to allow us to stay in touch, we are being introduced to and gaining new full-price customers too”.
The company went live “in a few days, generating instant and unplanned sales” and it said it can “maximise trade at peak times, while planning additional seasonal ranges to align with its business trading pattern”.
Secret Sales CEO Chris Griffin said the firm had “needed a curated, fashion-specific approach that offers a clean exit for non-full-price lines".
He explained that adding a secondary channel to its ecosystem, which is "exclusively for aged inventory where it can sell directly to consumers in an upmarket environment, means Ted Baker can manage surplus stock sustainably, all while protecting brand image and heritage”.