// Parent company of Karen Millen reportedly eyes sale of the retailer
// Iceland-based Kaupthing has drafted in Deloitte to explore options
// Karen Millen has slashed its losses under a strategy by CEO Beth Butterwick
The parent company of Karen Millen is reportedly weighing up the possibility of selling the premium womenswear retailer.
According to Sky News, Icelandic bank Kaupthing drafted in Deloitte to review its options for Karen Millen after receiving a string of takeover bids.
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Sources speaking to Sky News said that any potential sale is expected to take several months to conclude.
It is also not yet clear Karen Millen would be valued should it go on sale.
Should Karen Millen have a change of hands, parts of Coast – another womenswear brand that it acquired out of administration last October – would also be included in the process.
The potential sale comes after Karen Millen slashed its operating losses by 85 per cent to £1.4 million in the financial year to February 2018, under a turnaround strategy led by chief executive Beth Butterwick.
Karen Millen trades from 65 countries around the world and employs 1700 staff globally.
At home in the UK, it trades from 57 stores, with concessions at John Lewis and Selfridges.
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2 Comments. Leave new
Karen Millen have closed a lot of stores. They have purchased Coast concessions from administration but Coast are for very wealthy people and I don’t see them having a long term future.
KM have hardly any Kent stores now I think Bluewater is the only one with Canterbury having gone at Christmas. There is also a concession at H of F Maidstone.
KM are too expensive and the middle market is too crowded. KM would be a good fit with Whistles !
I think that some K.M. designs have become rather strange in the past couple of years, and they also repeat poorly selling items from one year to another.
Their online customer service has improved, (it used to be shocking) Sadly though, it’s too little too late.