StockMarketWire.com - Fashion retailer Ted Baker said it had agreed to an exclusive licence deal in Japan with Sojitz Infinity.
Initially lasting five years, the arrangement would see Infinity drive the long-term expansion of the Ted Baker brand in the region.
It would apply its local expertise, especially within the department store sector, with Ted Baker's buying, merchandising and brand-building capabilities.
Ted Baker said it would transfer certain existing assets relating to its Japanese business, such as non-current stock, fixed assets and leases, to Infinity at nil value.
As a consequence, it anticipated exceptional transaction-related costs of around £4m including onerous lease expenses, restructuring charges and deal-related costs.
The non-cash charges of around £1m would include the transfer of non-current stock and fixed assets.
Ted Baker said it expected the licence to commence on 1 October and bring its licence partners across the globe to 17. Story provided by StockMarketWire.com
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