LK Bennett, a well-known mid-market footwear and apparel chain, is once again making headlines with reports emerging that founder Linda Bennett is exploring potential sale options for the company. This decision comes just a year and a half after she reclaimed ownership of the business following a previous sale of the majority stake.
A recent report by Sky News has revealed that AlixPartners has been appointed to conduct a strategic review that could potentially lead to the sale of LK Bennett. The retail landscape in the UK has been particularly tough, with physical stores struggling and many fashion retailers having to rethink their business strategies.
While there is no certainty that Linda Bennett will choose to sell, industry insiders believe that there is a high likelihood that she may sell a part of the company to an external investor. This wouldn’t be the first time she has considered such a move, having sold control of the company back in 2008 to a consortium led by Phoenix Equity Partners before eventually buying back a stake with Sirius Equity Partners.
The current valuation of LK Bennett remains uncertain, with reports suggesting a value of around £100 million a decade ago but potentially impacted by recent years of financial losses and market changes. After resigning from the company she founded 18 years ago, Bennett returned as a consultant two years ago and finally regained full control in 2017.
The potential sale of LK Bennett underlines the ongoing struggles that mid-market brands face in adapting to evolving consumer preferences and shopping behaviors. Keep an eye out for more developments regarding the future of this iconic British retailer.
For more information on LK Bennett, visit their official website here. Additionally, you can read more about the retail industry and company acquisitions on Retail Gazette here.
