We’ve heard the line, ‘Let’s hug it out’ a lot of times as it fits perfectly in situations where two friends just need to sort out their differences and move on. But well, this strategy does not fit well in a corporate setup. It so happened that on Monday, a popular UK luxury fashion brand Ted Baker released a statement stating how the company’s CEO Ray Kelvin has this ‘forced hugging’ culture in the workplace among employees. The allegations came into light when more than 2500 signatures were registered in an online petition calling for an end to hugging culture which is nothing less than a harassment at workplace.
Reportedly, shares of Ted Baker have also fallen by as much as 15 percent in London as investors reacted to the news.
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Me and #Tedbaker owner, Ray Kelvin, while wearing a Ted Baker jumper. #tedbakerlondon #raykelvin 👌
For the uninitiated, Ted Baker's founder and CEO, Ray Kelvin started his first store in March 1988 in Glasgow, which then resulted in numerous stores including one in Manchester and Nottingham. Not just this, Ted Baker also opened a store in Convent Garden and Kelvin bought the company outright from part-owners Goldberg and Sons. A new addition, Ted Baker Woman, was launched in 1995. Ted Baker purchased their headquarters in London for £58.25 million in summer 2017.
In the statement, the company has stated, "Ray and the company's leadership have always prided themselves on Ted Baker is a great employer and business to work with. Accordingly, they and the board take these concerns very seriously and the Board has directed a thorough and urgent independent external investigation is carried out into these matters." Read More