British luxury clothing retail, Ted Baker, has secured 10-year long retail license deals with PT Mitra Adiperkasa Tbk (MAPI) and All Futtaim Group, in a bid to grow further in Indonesia, Middle East, and North Africa (MENA). The Al-Futtaim agreements included eCommerce and will be its first full omni-channel territory operated by a license partner.
The enabling of full omni-channel services is a key pillar of the Group’ transformation plan and alongside the launch of the new eCommerce platform at the end of first quarter of 2021 marks further progress in creating an even better customer proposition. Following these new licenses, the retailer will have 17 retail license and 20 product license partners across the globe.
The local lifestyle retailer managed over 2,600 retail stores and a portfolio over 150 of the world’ leading brands. During last year Mitra Adiperkasa businesses has been hit by the pandemic and decided cut 30 percent of the 2020′ capital expenditure of Rp1.2 trillion (US$83.33 million).
It said, the impact of the large-scale social distancing and the temporary closure of the mall since early April had an impact on the financial performance of the retailer in the second quarter of this year. The company, he said, had taken a responsive by mobilizing all of the company’ omni-channel capabilities.
To help the financial of MAPI, the management has transferred MAP Active Adiperkasa Ltd., shares to Singapore firm, Athletica International Holdings Pte. Ltd., with worth of THB105 million ($3.38 million), and PT Map Aktif Adiperkasa Tbk (MAPA). The number of shares has been transferred was 999,998 unit or equal to 99.99% of the company’ shares.