Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

LK Bennett plots global growth as profits double

Premium womenswear retailer LK Bennett is plotting international expansion after almost doubling pre-tax profits.

The chain posted £9.3m profits in the year to July 28 compared with £5m the year before, with the growth fuelled by its speedy international expansion, according to the Financial Times. Turnover rose 11.5% to £88.4m.

LK Bennett is now looking further afield to countries including Hong Kong and Australia to drive further growth.

Jim Sharp, a partner at Sirius Equity, one of LK Bennett’s private equity backers told the FT: “Asia is the next thing to go for. We’re not going to expand our base in the UK. There are enormous opportunities to grow in America.”

The retailer already has stores in the US, France, Holland and across the Middle East but will focus on building its online presence internationally instead of opening physical stores worldwide.

Sharp highlighted the continuing tough conditions on the UK high street and with consumers “price sensitive” LK Bennett and its competitors have turned to promotions. “[Rivals] are on sale earlier and for longer – and customers respond,” said Sharp. “We have to participate – but you rely on quality products. If a product is good, it will sell.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.