Gordon Brothers adds to its portfolio. The company, led in the UK by Mark and specialized in rescuing distressed companies, has acquired the London luxury fashion brand in a transaction whose value has not been disclosed. LK Bennet, which is going through a critical economic moment, was considered at the beginning of January by the British company Next.
The multinational thus acquires both the brand and its intellectual property assets related to the joint administrators of LK Bennett Fashion Limited.
As the new owners of the firm, Gordon Brothers will evaluate various marketing strategies, with an emphasis on strengthening retailer relationships, continuing to expand the brand through creative and innovative marketing opportunities that delight consumers, and expanding the portfolio of licensees and franchisees, according to a statement.
Gordon Brothers adds to its portfolio with the acquisition of LK Bennet in an undisclosed transaction
Gordon Brothers will also focus on transitioning LK Bennet to a reduced-asset model, as it did with the global expansion of the Laura Ashley brand in 2020, when it acquired the company. In early January, however, the company sold Laura Ashley to Marquee Brands.
LK Bennett has a physical store network consisting of nine UK locations and several franchises. The company, which started the search for a new buyer advised by Alvarez&Marsal (A&M), had already filed for receivership at the beginning of this month.
