Linda Bennett, the founder of LK Bennett, has retained a substantial share in the business and will remain a non-executive director at the chain.
Robert Bensoussan, the co-founder of Sirius and former chief executive of Jimmy Choo and chairman of Radley, has been appointed chairman of LK Bennett, as predicted by Drapers (June 21). Bensoussan worked with Phoenix at both Jimmy Choo and Radley.
Bensoussan said: "LK Bennett has developed an incredibly strong brand through the hard work of Linda and her team over many years. We believe there is an exciting opportunity to develop the business and the brand further and we are excited about the opportunity to help the company realise its fantastic potential."
Phoenix Equity partner David Burns added: "We are delighted to have the opportunity to work in partnership with Robert Bensoussan again and to invest alongside Linda Bennett in LK Bennett. We are confident that there is significant potential to continue to expand the business rapidly."
LK Bennett founder Linda Bennett said: "Phoenix and Sirius have proven their ability to work together successfully in the past and their track record in growing, supporting and developing UK based branded consumer businesses was a critical factor in my decision to work with them. I am confident that Phoenix and Sirius are the right partners to support LK Bennett's continued development and future growth plans."