Britain's Ted Baker Looks to Sell Itself after Takeover Interest

People shelter under umbrellas as they pass a Ted Baker a store in London, Britain October 06, 2015. REUTERS/Neil Hall
People shelter under umbrellas as they pass a Ted Baker a store in London, Britain October 06, 2015. REUTERS/Neil Hall
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Britain's Ted Baker Looks to Sell Itself after Takeover Interest

People shelter under umbrellas as they pass a Ted Baker a store in London, Britain October 06, 2015. REUTERS/Neil Hall
People shelter under umbrellas as they pass a Ted Baker a store in London, Britain October 06, 2015. REUTERS/Neil Hall

Ted Baker is open to selling itself at the right price after seeing a flurry of takeover interest, the British fashion retailer said on Monday in the wake of a robust rebound from the pandemic.

Ted Baker launched a formal sale process after private equity firm Sycamore improved its takeover proposal and another third party showed interest in bidding for the company, sending its shares surging as much as 11% to 142.6 pence.

Takeover interest in British companies, ranging from defense groups to supermarkets, is at its highest in years, as the pandemic and uncertainties linked to Brexit have slashed valuations.

"The Board has decided to conduct an orderly process to establish whether there is a bidder prepared to offer a value that the Board considers attractive relative to the standalone prospects of Ted Baker as a listed company," it said in a statement.

The company, which has 560 stores and concessions, is in the middle of a three-year turnaround plan under chief executive Rachel Osborne and has seen demand return from pandemic lows.

Last week, it rejected a second proposal from New York-based Sycamore that valued it at 253.8 million pounds ($332.86 million), saying it undervalued the group.

Ted Baker said Sycamore had made a third proposal, but didn't disclose the terms in its announcement on Monday.

It has not spoken with Sycamore as to whether the private equity firm wishes to participate in the sale, Ted Baker said.

Sycamore did not immediately respond to a Reuters' request for comment.

The formal sale process, which the UK's takeover regulator has agreed to, allows talks with interested bidders to take place on a confidential basis.

Ted Baker over the years has been working to regain investors' trust after former CEO Ray Kelvin left in 2019 following misconduct allegations. He has denied the allegations and still owns nearly 12% of the company he founded in 1988 in Glasgow, Scotland.



Hermes to Hike US Prices to Offset Tariff Impact

FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
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Hermes to Hike US Prices to Offset Tariff Impact

FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa

French luxury group Hermes said Thursday it would hike its prices in the United States to offset the impact of 10-percent import tariffs imposed by President Donald Trump.

Famous for its Birkin handbag, silk scarves and leather goods, the increases would take effect on May 1, said the group's finance chief, Eric Halgouet.

Halgouet did not say by how much prices would be raised, but he said the move would "fully offset" the tariffs impact, AFP reported.

"It will be a complementary price increase that we are currently finalizing, but which will allow us to neutralize this impact," he told reporters during a quarterly earnings presentation.

Hermes, also known for the "H" logo on its belts and other goods, usually raises prices once a year and had already announced worldwide increase of between six and seven percent earlier in 2025.

Hermes overtook French rival LVMH as the world's most valuable luxury group this week after the share price of the Louis Vuitton maker sank on disappointing earnings.

Hermes posted global sales of 4.1 billion euros ($4.7 billion) in the first quarter of 2025, an 8.5 percent increase from the same period last year.

Sales in the Americas region jumped 13.3 percent to 695 million euros, with double-digit growth in the United States, Canada, Mexico and Brazil, Halgouet said.

US sales were disrupted by wildfires in Los Angeles, which forced the closure of two shops for several days, and snow storms in other states.

Trump imposed a 10 percent tariff on imports from around the world this month, but he delayed higher duties on dozens of other countries, including a 20 percent levy for goods from the European Union.