Ted Baker continues its build-back with the launch of a new ‘non full-price’ strategy through a partnership with Secret Sales to sell excess inventory.
The luxury lifestyle retailer is working with premium ecommerce marketplace Secret Sales to launch its first ‘always on’ UK digital outlet, enabling it to sell prime aged stock away from the main Ted Baker website in a brand-enhancing and profitable way.
Currently listing around 800 non full price lines, Ted Baker has selected Secret Sales to be its sole off-price marketplace channel.
Ted Baker retains full control of its brand on Secret Sales, owning the product selection, pricing, images and copy and working in partnership on trading and marketing plans. The retailer has digitally connected its supply chain and inventory systems to the platform to trade efficiently in real time, without the need to physically move stock to a third-party seller.
"Secret Sales is a natural extension of our ecommerce operation, allowing us to sell surplus stock while supporting cash generation and retaining brand equity,” explains Gavin Richards, Head of Commercial Stock at Ted Baker. “By giving shoppers the option to allow us to stay in touch, we are being introduced to and gaining new full-price customers too."
By using Secret Sales’ simple integration approach, Ted Baker was able to go live in a few days, generating instant and unplanned sales. The retailer can maximise trade at peak times, while planning additional seasonal ranges to align with its business trading pattern.
“Ted Baker needed a curated, fashion-specific approach that offers a clean exit for non full price lines,” adds Chris Griffin, CEO of Secret Sales. “Adding a secondary channel to its ecosystem, exclusively for aged inventory where it can sell directly to consumers in an upmarket environment, means Ted Baker can manage surplus stock sustainably, all while protecting brand image and heritage.”