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LK Bennett founder buys out the business

Womenswear retailer LK Bennett’s founder, Linda Bennett, has increased her investment in the company to buy out the remaining equity from private equity owner Phoenix Equity Partners.

The deal was made for an undisclosed sum. Phoenix Equity bought LK Bennett in 2008 in a deal estimated to be worth £80m-£100m at the time. The company was put up for sale in the previous year.

LK Bennett chief executive Darren Topp said: “Linda is exceptionally well placed to support its continued growth. Linda has been working with the team since April of this year improving the product, growing the business and supporting the changes we began to make when I joined the company last year.

“We look forward to accelerating that change in the future to ensure the brand’s continued success in today’s retail environment.”

Bennett said: “Working closely with the LK Bennett team over the past few months has given me a real sense of excitement and confidence in the potential of the brand.”

Bennett founded the company in 1990 with its first store in Wimbledon, south London. It operates more than 260 shops and concessions in more than 30 countries.

The company said it will continue to expand following store launches in China, Russia, Qatar, the US and the UK in the past year.

LK Bennett trades from 49 stores and 64 concessions in the UK.

 

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