British luxury lifestyle label, Ted Baker, has partnered with multi-brand e-commerce site Secret Sales in a bid to sell past season stock to avoid product waste.
Ted Baker will be able to develop a long-term non-full price strategy by utilizing Secret Sales' UK digital outlet site instead of its own website as a result of the latest partnership. The label has said that this will be its only discounted marketplace channel, with about 800 off-price lines.
Ted Baker maintains control of its own brand through the site, managing product selection, pricing, graphics, and copy, as well as collaborating on marketing strategies.
In a statement, Chris Griffin, CEO of Secret Sales, said that Ted Baker wanted a curated, fashion-specific strategy that allows a clean departure for non-full price lines. Ted Baker can manage surplus stock responsibly while safeguarding brand image and legacy by adding a secondary channel to its ecosystem that is specifically for aged inventory and allows it to sell directly to consumers in an upmarket environment.
Ted Baker joins the likes of Adidas, Dolce & Gabbana, and DSquared2, as well as 700 other luxury and high-street businesses, in maximizing the use of the e-commerce sector. Retailers can use the site to connect their supply chains and inventory systems, removing the need to send inventory to a third-party seller.
Gavin Richards, Ted Baker's head of commercial stock, said that Secret sales is a natural extension of their e-commerce operation, allowing them to sell surplus goods while supporting cash flow and retaining brand equity. They are also introducing and acquiring new full-price consumers by offering shoppers the choice to keep in touch with them.
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