The sale values the business at £100m, according to the Telegraph. Bennett will reportedly remain on the board of the company as a non-executive director and will retain a stake of about 30 per cent. Speaking to the Telegraph, Bennett says: “I have been running the company for almost 18 years and wanted to bring in a partner to help take LK Bennett to the next stage of its development. I am also ready to take more of a back seat and spend more time with my family." Bennett opened her first store in Wimbledon village in 1990. She first tried to sell her business four years ago but bidders were unwilling to pay the £75m asking price. Since then Bennett has opened 25 new stores to bring the number of outlets in the UK, Jersey, Ireland and France to more than 70. LK Bennett is expected to generate revenues of £60m for the year ended July, up from £45.5m last year. Operating profits are forecast to increase from £9m to £12m. Robert Bensoussan, who worked on Burberry’s brand relaunch, has been appointed as LK Bennett chairman. Picture source
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.