On May 22, the British luxury fashion brand LK Bennett announced its 2022 annual results as of January this year: net sales increased by 30% to £49 million, and gross profit increased by 40% to £30 million, both great progress. At the same time, profitability also improved significantly: margins increased by 420 basis points to 61.9%, and EBITDA tripled to £4 million.
The LK Bennett brand pointed out that the gratifying performance growth has benefited to a certain extent from the relaxation of the epidemic, and the return of various activities, including weddings, has promoted the growth in demand for brand dresses.
According to data, the brand's profit from the activewear category alone has reached £1 million. It is worth mentioning that after a period of friendly cooperation with Royal Ascot, the LK Bennett brand has deepened its cooperative relationship and has now become its official sponsor.
LK Bennett currently has more than 100 outlets around the world, including online and offline flagship stores, department store counters, etc. The most recent store opened last week in Cheltenham, a city in southwestern England. LK Bennett is committed to strengthening its brand's basic business capabilities by continuously upgrading existing stores, continuing to expand global stores, and planning to return to the US market in a wholesale business model this fall.
Darren Topp, CEO of LK Bennett, expressed his delight at the brand's strong performance in a statement: "This has been our most successful year in over a decade, and we would like to thank our hardworking colleagues, customers, and suppliers for their continued support."
About LK Bennett
LK Bennett was founded by Linda K. Bennett in London in 1990. Since then, it has developed into a famous fashion brand in the UK, focusing on high-end women's shoes, bags, clothing, and accessories.
LK Bennett was famous for its women's shoes, favored by the royal family and fashionable women at the beginning of its establishment, and it quickly became the ideal paradise for finding graceful and beautiful shoes. The company also released a womenswear line in 1998.
Ten years later, Robert Bensoussan, one of the founders of Sirius Equity, and Phoenix Equity Partners jointly invested in the brand and became the controlling shareholders to support the company's continued development. LK Bennett thus took the first step in its expansion strategy. This move has promoted the company's business expansion on a global scale, and LK Bennett's beautiful fashion can now be bought in major shopping malls in more than 150 places in the UK, the United States, Europe, and the Middle East.
Since the main stores were opened in the most fashionable communities in London, such as Mayfair, Knightsbridge, and Chelsea, they have been loved by many fashionable people.
Shoes and boots have been featured in the world's most renowned and stylish magazines, including Vogue, Harper's Bazaar, Vanity Fair, Tatler, Grazia, Elle, and InStyle. They are regularly featured and loved by fashion editors, style pioneers, and fashion-forward bloggers. Kate Middleton has worn the LK Bennett brand several times during her public appearances.