Profile of William Baird

William Baird, one of the UK?s leading clothing manufacturers in the 1990s, has effectively reinvented itself over the past 18 months. The company has decided to concentrate on its strengths as ?the UK?s largest concession retailer?, with a focus on the marketing of branded women?s wear and activewear products. Already, William Baird has withdrawn from men?s wear and corporatewear manufacture and looks set to withdraw from manufacturing entirely.

Prior to 1999 William Baird had been a significant and long standing manufacturer of apparel for Marks & Spencer?the UK?s largest clothing retail group. Marks & Spencer had accounted for around 40% of William Baird?s business, and William Baird had made considerable financial and other commitments in the expectation that this business would continue. But in October 1999 Marks & Spencer abruptly terminated its relationship with the company. The impact on the group?s finances was profound. Turnover was reduced substantially, and William Baird was compelled to implement thousands of redundancies and close 16 factories in the UK. In January 2000 the company initiated a £54 mn (plus interest) legal suit for compensation against Marks & Spencer. But the action was finally resolved in summer 2001 in Marks & Spencer?s favour.

Since late 2000 William Baird has divested its men?s wear operations, its corporatewear business and other assets. This has enabled it to pay down debt and free-up resources in order to focus on developing its strengths as a retailer of women?s wear and activewear. In the meantime, William Baird remains a potential takeover target. In particular, a bid from Alchemy Partners in late 2000, which lapsed in January 2001, could be revived in the future.

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