Linda Bennett set up the first LK Bennett shop in Wimbledon Village in 1990,[1] with a goal to produce "something in-between the designer footwear you find in Bond Street and those on the high street".[2] The company’s success led Bennett to earn the nickname "Queen of the Kitten Heel.”[1][2]
In 1998 Bennett created her first ready-to-wear collection and started overseas expansion, opening a boutique in Paris in 2000.[3] She then opened stores and concessions in Spain, the Netherlands, the United Arab Emirates, and the United States, including in-store concessions in chains including Harvey Nichols, Selfridges, John Lewis, Fenwick, Printemps, and Galeries Lafayette.
In November 2004, Bennett appointed BDO Stoy Hayward to find strategic investors.[4] Bennett sold a 70% stake in the business in 2008 to Phoenix Equity Partners and Sirius Equity, a retail and branded luxury goods investment company, in a deal believed to have netted her around £100m.[5] Bennett remained on the board of the company as a non-executive director, and retained a stake of about 30 per cent.
In April 2017 the brand announced that Linda Bennett would be returning to its helm with a focus on product and brand development.[citation needed] In September 2017 she bought out the company.[6]
As of June 2018, the company had 130 stores globally. Online sales made up 33% of total sales, stores 61%, and wholesale 6%.[7]
The company went into administration on 7 March 2019.[8] It was reported that up to 500 jobs could be at risk as administrators EY closed five outlets on being appointed, two in London as well as the stores in Sheffield, Bristol, and Liverpool. On 12 April 2019 LK Bennett was bought out of administration, saving 325 jobs.
However, 15 of the retailer's stores are not included in the deal and will close, leading to the loss of 110 jobs.
LK Bennett has been bought by Byland UK[9]
In November 2018, LK Bennett launched a new US website in USD, and a site in Euros supporting 29 European countries.
..........Read full articleLK Bennett's Ascot collection
The New Bond Street store is now open, not far from the original Brook Street site, but in a much more prominent position.
As its new HQ, the location will now house key teams including design and e-commerce.
The move comes despite exciting developments in Brook Street in recent periods, such as the Browns relocation there from its original South Molton Street home.
But the appeal of New Bond Street is very clear as it’s well positioned to make the most of the recovery in West End retail as tourists return to the city.
The large space will allow the brand to feature not just its footwear but its wider clothing offer and its new bridal collection.
The opening comes as the brand makes the most of another feature of the recovery — the return of events. It has just launched its second LKB collection for Royal Ascot, an important development after social events such as Ascot were disrupted by the pandemic for the last two years.
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