November 27, 2020
Uncategorized

Linda Bennett Buys Back L.K. Bennett

LONDON – Linda Bennett is back at the helm of L.K. Bennett with a new majority stake in the footwear firm she founded in 1990 as a single shop in Wimbledon.
She has effectively bought back the business, having increased her investment in the company by acquiring the remaining equity in L.K. Bennett Limited from Phoenix Equity Partners for an undisclosed sum.
“Working closely with the L.K. Bennett team over the past few months has given me a real sense of excitement and confidence in the potential of the brand,” Bennett said Wednesday. “We want to focus on making beautiful clothing and footwear for women of all ages. I’m thrilled to be back in the business.”
The company declined to comment further on the new shareholding structure or the size of Bennett’s new stake.
In July, 2008 Bennett sold the business to Phoenix Equity Partners and Sirius Equity, but kept a 30 percent stake and remained a non-executive director.
Darren Topp, chief executive officer of L.K. Bennett, said Wednesday the management team is “delighted that Linda has demonstrated her continued commitment to the business. Linda has been working with the team since April of this year improving the product, growing the business and supporting the changes

Follow WWD on Twitter or become a fan on Facebook.

Read More…