Saturday, June 19, 2021

LK Bennett expands to Russia

LK Bennett hires new digital director

British fashion retailer LK Bennett will officially open its debut store in Russia later this week.

Located on the 1st floor of the Metropolis Mall in Moscow, the store opening is part of the upmarket retailer‘s international expansion plans.

Other retailers that have recently opened in the shopping centre, which is marketed towards affluent Russian shoppers, include Karen Millen, DKNY and Michael Kors.

LK Bennett‘s Moscow store comes after the fashion retailer received £2 million from its private equity backers in support of its international push into Russia and other markets, including China, Qatar and a new store at the new World Trade Centre in New York, US.

The recent cash boost LK Bennett received from Phoenix Equity Partners and Sirius Equity, who have owned the retailer for the past 10 years, led to recent buzz that it could be sold.

However, sources have said that both firms would remain onboard and support LK Bennett’s international expansion plans.

Approximately 25 per cent of LK Bennett’s sales derive from its international markets.

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