The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — The administrators of L.K. Bennett, a British womenswear retailer favoured by British royal Kate, said on Friday they had completed the sale of most of its UK stores and assets to Byland UK for an undisclosed sum.
"The sale includes the company's headquarters, 21 stores, all of its concessions, and 325 employees, who will transfer across to the purchaser," EY said in a statement.
"Unfortunately, the 15 stores that were not included in the sale will be closed, resulting in the redundancy of around 110 employees... The company's international subsidiaries are also not included in the sale and will remain in administration."
By Alistair Smout; editor: William Schomberg.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.