Premium womenswear retailer LK Bennett could be sold for more than £100m as its owners consider a sale of the business.
The chain’s owners, private equity firms Phoenix Equity Partners and Sirius, have approached advisors to help prepare a sale according to the Sunday Express. The two firms bought a 70% stake in LK Bennett in 2008 in a deal thought to be worth £100m.
The womenswear chain’s popularity has been boosted over the last few years as the Duchess of Cambridge has chosen to wear shoes and bags from the retailer.
In May LK Bennett announced profits had grown to £9.3m in the year to July 28, 2012 from £5m the year before. Turnover rose 11.5% to £88.4m as the chain’s growth was fuelled by its speedy international expansion.
The group has 51 UK shops plus 13 in the US.