Fri, 30 Aug 2013 | BUSINESS SALE
The private equity owners of LK Bennett, Phoenix Equity Partners and Sirius, have entered into discussion with advisers over the potential sale of the fashion and footwear retailer.
LK Bennett has had a strong year, thanks in part to the Duchess of Cambridge Kate Middleton and her fondness for some of the company's designs - its nude heels in particular. Sales were up 15 per cent to £94.1 million last year, while international and online sales have also helped to drive up underlying annual profits by 15 per cent to £62.7 million.
A sale of the business would value the firm at around £100 million, thanks in part to its strong profits. Expansion plans that take in to account the company's intention to enter the Chinese market and extend its presence in the US and the Middle East are also helping to push up the value of the business.
A source told the Express: “With the profile LK Bennett has received, the owners believe they can obtain a good price.”
LK Bennett is a leading international brand in the luxury market but has grown out of a strong British heritage. It was founded by Linda Kristin Bennett and the first store was located in Wimbledon Village before the company grew to its current position.
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Related information:
LK Bennett to be put up for sale (2007)
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