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Karen Millen to increase prices amid currency fluctuations

Premium womenswear retailer Karen Millen will raise prices by 5% from the autumn in response to the weakened pound.

Chief executive Beth Butterwick said the increases would be limited to mid-range products rather than hitting entry or exit points.

She said: “It’s about the prices at the mid-market where you can put some up, and there’s still an option there for consumers to have different price points.

”So I think there is an opportunity for us certainly to capture consumers that perhaps once shopped in luxury and now want the quality but maybe the average disposable income has come down slightly.”

Earlier this month, Butterwick unveiled a three-pronged strategy for Karen Millen which will focus on style-led, flattering product, carrying out a store review and speeding up processes.

She added Karen Millen would be moving back to a more feminine style after taking an edgier approach in previous seasons.

Karen Millen has 400 stores globally including concessions, outlets and franchise stores. In the UK the retailer has 89 doors, including 30 standalone stores.

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