Ted Baker Company Profile - Report Example

Company Profile- Ted Baker Company Profile- Ted Baker Ted Baker Company is one of the biggest clothing companies of England. The company has been in the retail market for several years. It has progressed a lot in the last few years. The demand of the products has been increasing day by day. The company has expanded widely through its marketing strategies and advertising techniques. Ted baker specializes in women and men clothing, accessories and undergarments. Ted Baker Company has listed in the London Stock Exchange. The advancement of the company has helped it in FTSE 250 index listings. It has many competitors in the market. But through them it has continued the journey of its prosperity and advancement. The company has opened many outlets worldwide; also it has jumped into the online shopping market. The Ted Baker Company used high quality materials and techniques in their production. It is one of the chief reasons of its prosperity (Ellen, 2007, p. 281). Methodological Framework: In this study we will discuss deeply the company profile of the Ted Baker Company. The history of the company, its products details, marketing and advertisement strategies, recent development, competitors and customers will be the main topics of discussion. In this way we will be able to understand the growth and the impact of the market values on the development of the company. It is important to note that the Ted Baker Company has only completed two decades since its appearance in the market. History of the Company: The founder of the Ted Baker Company is the passionate and the capable business man Ray Kelvin. Kelvin belonged to the long line of fashion retailers. In his childhood he worked in the garment shop of his uncle and after that he developed the idea of a long chain fashion store in his peak years. The aspect which greatly contributed towards the success of his idea and the acceptance of the company among the customers is the fine taste of Ray Kelvin. He had the ability to capture the needs and tastes of the buyers. He was also awarded a CBE for his extraordinary services to the industry of fashion and clothing. He used his greater sense of marketing techniques to capture the attention of the customers. The journey of the Ted Baker Company started in the year 1988 when the company opened its first store at the Glasgow. The progress was then followed by the opening of three more stores. The places were Nottingham Exchange Arcade, Manchester and King Street. The promotional strategy was that they offered dry cleaning services with every shirt they sold. At that time the chief product was men’s dress shirt (Ellen, 2007, p. 29). By the year 1995, Ted Baker Company introduced its women line of clothing under the name Ted Baker Woman. The company started its whole sale trading in the United States of America and United Kingdom. In the year 1997, the company branded itself by the name of ‘No Ordinary Designer Label’. It also becomes the PLC trading Company. The same year Ted Baker Company opened other stores in Liverpool and Glasgow. One greatest achievement of the Ted Baker Company is the opening of the company’s website in 1998. Through which they extended their business to further lines. The same year Ted Baker opened its first stand alone store in the city of New York. With the help of this store Ted Baker started grabbing the American clothing market. It also introduced its skin wear lines and under garments range. In this way Ted Baker started expanding in different clothing lines and ideas. By the year 2004, Ted Baker has it may stores in the regions of New Zealand, Australia, San Francisco and Las Vegas. From 1998 to 2004 the company introduced wide range of fragrances, bags, watches, footwear, Teddy Girl collection, eyewear range; outclass suit collection, jeans collection, luxury collection and much other clothing range (Ellen, 2007, p. 159). It should also be noted that number of its stores and boutiques widely increased and in the same way they became extraordinary famous among international customers. They turned into the global brand with the wide range of stores with about 140 stores worldwide. With the wide range of products offered, they are successful in appealing the large group of customers. Products of the Company: Ted Baker offers an extraordinary range of products for the convenience of its customers. They have the choice to select according to their class and range. It should also be noted that all the products of the Ted Baker Company are high class and made from the quality material. Their products are according to the climatic and the cultural demands of the country in which their stores are located. The main purpose is to provide comfort and facility in the clothing line with the tag of the trustable company. Their chief products are bags and luggage items, complete range of woman wear; including casual wears to formal wear, undergarments to bathing range. They also offer men’s complete range of clothing. Accessories of man and woman both are included among their high class products. Watches and fragrances are their widely accepted accessories. Shoes and boots of Ted Baker Company are also among the list of highly demanded products. They have also stepped into the field of furniture and electronics; offering two mobile models in co ordination with the two widely accepted brands Samsung and HTC. Marketing and Advertisement Strategies: If we look closely into the development process of the Ted Baker Company we will get the basic idea of their progress that is planning and then implementation. With every passing year since 1988 they opened in different location. They choose the location carefully and intelligently. Also they introduced their clothing line according to the customers’ demands. With the passage of time when they realized the increasing demands of accessories with clothing they stepped into it. In this way they passionately though intelligently expanded their business. As a part of their marketing strategy they offered promotional items like the idea of free dry cleaning with the shirt. The opening of the store in the new location is a brand advertisement itself but they used other techniques as well as like the sponsorship of the famous football seasons and tournaments. They launched the website for different countries as well. One greatest step towards the intelligent marketing strategy is the co ordination of Ted Baker with other clothing websites. They showcased their products on different popular clothing sites which deal with all good brands of the world (Ellen, 2007, p. 321). Various competitors of the Ted Baker Company use models and famous celebs for their promotion. Ted Baker also highlighted various models in its show case. It showed the models in a classy manner and full of grace. The choice of the models and the representatives was appropriate and according to the country of target. In this way Ted Baker has widely captured the market of Europe and America. Customers: The customers Ted Baker has captured, are based far and wide. Complete Europe and America comes under the territory of the Ted Baker Company. Moreover they have also opened their stores in the Asian Countries to capture the market. Ted Baker has also captured the continent of Australia; due t the demand and the cultural resemblance with the products offered by the Ted Baker Company. Competitors: Many other companies are also aimed at the same customers of United Kingdom and United States of America. Among various competitors of the Ted Baker Company; Levi, Calvin Klein, Gap, Fcuk, Paul Smith, Kurt Geiger and United Colors of Bemeton, are prominent. These companies offer the same line of clothing as the Ted Baker offers. The customers are of same culture and demand. It should also be noted that the progress graph of these companies is also boosting. In this way they all challenge the market of the Ted Baker Company. But in the presence of all these successful brands Ted Baker has captured its customers. There are several customers who give preference to the products of the Ted Baker Company. Recent Development: The company has not yet stopped expanding. It is still on the path to growth. The store locations are increasing day by day. Recently it has opened a store on the New York Fifth Avenue in August 2012. The store has recently opened in Canada. According to the company’s annual report the revenue of the Ted Baker has increased by approx 15 %. The shares are also boosted by approx 3%. Their E-commerce sales have also advanced by approx 82.4%. Ted Baker online shopping facility has widely contributed to the growth of the company (Gwinnett, 2012). The company has designed some new market strategies like gift cards and discount offers to help boost its business which is already in a high tide. Social promotions and offers are kept on coming in the market on the behalf of the Ted Baker Company. Conclusion: We can conclude by saying that we successfully studied the history of the famous advancing company of the England. We not only looked into the different marketing strategies of the company but we also noted the chief reasons of its prosperity. Ted Baker Company profile offers complete and thorough example of the company’s advancement techniques and policies. Its customers and competitors were highlighted moreover the recent developments of the company were discussed thoroughly. References Ellen, D. 2007. The subjects text book is Fashion retailing: a multi-channel approach..Pearson Prentice Hall, Upper Saddle River, NJ. Edition 2nd Gwinnett. G. 2012. Ted Baker: Seymour Pierce expects full year 2013 pre-tax profit of £29.5 million. Proactive Investors United Kingdom Report Archives, Newwires. Retrieved from < http://www.proactiveinvestors.co.uk/companies/news/48769/ted-baker-seymour-pierce-expects-full-year-2013-pre-tax-profit-of-295-million-48769.html> Read More