Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
05/23/2025
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The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
August 17, 2022: -Authentic Brands company, the retail conglomerate that is even an owner of businesses like Reebok, forever 21, and Juicy Couture, has made a deal to purchase U.K. fashion chain Ted Baker for almost £211 million, or $254 million.
The deal value paying 110 pence cash for each Ted Baker share represents a premium of almost 18% to its closing price on Monday. The company is listed on the London Stock Exchange.
After completion, ABG says that it intends to separate the Ted Baker business into an intellectual property that holds the company that would remain controlled by ABG, plus one or more which operates companies that would manage the brand’s stores, e-commerce operations, and wholesale business.
ABG says that it would explore options to transfer complete or partial ownership and control of all of those separate operating companies to other partners.
The announcement on Tuesday resolves months of speculation about the future of the British fashion moniker, which has been forced to put itself up for sale amid Covid pandemic-related hardships this year.
Ted Baker denies a few bids from private equity chain Sycamore Partners before establishing its sale process. ABG had held talks with Ted Baker regarding the deal before it left.
On Tuesday, ABG founder and Chief Executive Officer Jamie Salter said that the Ted Baker brand is in high consumer regard globally.
“We are excited to build on the brand’s global foundation through a business model focused on licensing, wholesale, retail, digital and strategic marketing partnerships,” he added.
Ted Baker is in the middle of its reversal strategies and hopes to benefit from the continued strength of luxury demand, even as inflation persists. Consumers have drawn back their spending on other nondiscretionary items.
The strength in luxury retail is prompting more M&A activity in this sector, while British businesses have become more reasonable for overseas buyers because of the pound’s weakness.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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