Ted Baker – a fixture on UK High Streets since the late 1980s – is the latest casualty in the battle facing brick-and-mortar shops.
Known for its quirky advertising and signature floral prints, the brand has long been synonymous with British fashion and heritage.
But in recent years, it has faced huge challenges such as fierce competition, the shift to online shopping and the departure of its founder Ray Kelvin.
It is now set to close its remaining stores this week, putting more than 500 jobs at risk in the UK.
“This is an iconic brand with a signature design,” Diane Wehrle, retail expert and chief executive at Rendle Intelligence and Insights told the BBC.
During the brand’s 36-year history, it has been forced to compete with other, higher-end, High Street fashion outfits such as Reiss, Whistles, Mango and Massimo Dutti, “all of which have eaten away at its market share”, she noted.
It has had to fend off competition while facing huge overheads with some 1,000 employees across 46 stores, concessions and the online business, she said.
But its fatal error? A failure to evolve with consumer tastes.
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