PDS Limited’s subsidiary, PDS Lifestyle Limited, a Company incorporated under the laws of England and Wales, has proposed to acquire 100% stake in New Lobster Limited (“New Lobster”), incorporated under the laws of England and Wales.
New Lobster had nil turnover and nil profits but it reported a net worth of 14.6 mn pounds, which is equivalent to Rs 150.5 cr. The Company has been incorporated in the United Kingdom on May 2, 2023.
This acquisition enables PDS Group to expand its offering into brand management services & wholesale distribution. New Lobster will serve as the global hub for the Ted Baker brand and take on Ted Baker’s design and merchandising functions. Further, this entity will become a core licensee and operating partner for Ted Baker. New Lobster accordingly has the employees and net working capital for the above-mentioned business, which is being acquired at Net Asset Value basis.
It will be responsible for all design, development, and product innovation servicing partners around the world, ensuring that the Ted Bakers brand’s vision and ethos are preserved. Ted Baker is a distinctive British lifestyle brand, that displays a commitment to its inherent authenticity, exploration, and inclusivity. Global Ted Baker distribution partners will purchase the brand’s core categories from New Lobster, including men’s and women’s sportswear and outerwear, men’s dress shirts, women’s dresses, and fashion handbags. Additionally, New Lobster will service wholesale accounts in the UK and Europe. A dedicated team that will exclusively provide market-leading practices and solutions, delivered through an ethical and trusted value chain.
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