×
42 263
Fashion Jobs
ALICE AND OLIVIA
Sales Supervisor Dallas, tx
Permanent · Dallas
TAPESTRY
Manager, Merchandising Men's
Permanent · New York
TAPESTRY
Senior Manager, Account Management - Americas
Permanent · New York
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Phoenix
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Santa Maria
BLOOMINGDALES.COM
Trade Area Asset Protection Manager: Bloomingdale’s Century City, Los Angeles ca
Permanent · Los Angeles
BLOOMINGDALES.COM
Director of Cosmetics Business Initiatives: Bloomingdale’s, New York, ny
Permanent · New York
MARC JACOB'S
Global Email & CRM Manager
Permanent · New York
MAC
Executive Director, Marketing, Mac, Travel Retail Worldwide
Permanent · New York
BUMBLE AND BUMBLE
Regional Business Consultant, Bumble And Bumble - New York City And Long Island, ny
Permanent · New York
H&M
Data Analyst, CRM
Permanent · New York
H&M
Customer Insights Business Analyst
Permanent · New York
H&M
h&m Retail Visual Manager
Permanent · Elizabeth
SAKS FIFTH AVENUE
Senior Manager, Integrated Marketing
Permanent · New York
L'OREAL GROUP
Account Executive - Sales Skinceuticals (Montgomery, al)
Permanent · Montgomery
ULTA BEAUTY
Salon Manager-Carson Valley Plaza
Permanent · Carson City
ALICE AND OLIVIA
Sales Supervisor - Alice + Olivia Jeans
Permanent · New York
RAG & BONE
Associate Product Manager
Permanent · New York
CANADA GOOSE
Digital Marketing Manager
Permanent · NEW YORK
JCPENNEY
Senior Director, Accounting & Reporting
Permanent · Plano
PUMA
sr. Public Relations Manager – Puma Hoops
Permanent · Boston
L'OREAL GROUP
sr. Manager/ Manager of Maintenance & Facilities
Permanent · Somerset

LK Bennett sold to Byland, Chinese firm is new owner

Published
today Apr 12, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

It’s official, LK Bennett is now owned by a company set up by one of its supplier-partners. It becomes the latest prominent name to be acquired by a Chinese business with the operator of its Chinese franchises now in the driving seat.


LK Bennett has been sold its its Chinese franchisee



The deal was sealed on Thursday evening through Byland UK, a newly incorporated limited company, which bought “certain business interests and assets of LK Bennett Ltd in both the UK and Ireland from its administrators.”

The company was created specifically for the acquisition of the UK business and is ultimately controlled by Rebecca Feng.

So what are the details? We don’t know how much it paid but Byland said the upscale firm’s head office, website, concessions, and “a substantial number of stores will remain open following the sale.” However, several stores “will close with immediate effect, which will unfortunately involve a number of unavoidable redundancies.”

The stores to close include as many as five in London (Royal Exchange, Kings Road, Knightsbridge, Long Acre and Northcote Road) plus Bath, Belfast, Glasgow, Birmingham, Bridgewater in Northern Ireland, Gloucester, St Albans, the Westgate mall in Oxford, and two in York (its full-price and outlet stores).

The company added that as part of the transaction all gift cards, refunds, and orders will be honoured, which is an important part of maintaining customer loyalty. There have been some high profile administration filings in which this didn’t happen and this has soured shopper sentiment towards the brands.

But this deal isn’t just about the UK and its new owners see major expansion potential abroad.

Feng said on Friday: “The LK Bennett brand is synonymous with quality and we believe there is a real opportunity to expand its reach in overseas markets where significant untapped potential exists. Under our plan, the business will continue to operate out of the UK, looking to maintain the long-standing and undoubted heritage of the brand. This will be achieved through a combination of working with quality British design, and the business’s existing supply chain.”

It’s interesting too that the deal sees a management comeback for the firm’s former CEO and finance chief. Darren Topp and Andrew Ellis, have been working with Byland UK, “providing operational and financial support [and] both will remain post-deal in ensuring the business is a success,” the company said.

It gave no details about what will happen to the still-operating European arm or the US unit that filed for bankruptcy protection last week. While the international focus could bode well for those two operations, it’s also likely that Asia, where upscale British brands are seen as desirable, could become the key target region, especially as its Chinese franchise partner is now in charge of its strategy.

Copyright © 2020 FashionNetwork.com All rights reserved.