// 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.
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.