Ted Baker to ape streetwear brands with monthly drops

The move sees the retailer copy streetwear brands, which operate drops at regular intervals to maintain the buzz around their business and satisfy consumers’ desire for newness.

Drops will run across menswear and womenswear and will be sold online and on social channels from March to November. The first drop is made up of logo-heavy knitwear.

Ted Baker returned to good form over Christmas after sales faltered in the autumn.

Retail sales including online were up 12.2%, or 10.5% in constant currencies, during the five weeks to January 5.

However, the retailer’s pre-tax profit declined 3.2% to £24.5m at its last interim results while UK and Europe sales were up just 1%.

The retailer, which is investigating allegations from staff of misconduct against founder Ray Kelvin, has drafted in its long-serving chief operating officer Lindsay Page as acting chief executive. It has not yet given an update on the independent investigation by Herbert Smith Freehills but is expected to “in due course”.