LK Bennett opens debut store in Moscow, Russia

London - British fashion retailer LK Bennett is set to officially open its debut store in Moscow, Russia later this week as part of its wider international expansion plans. Located on the 1st floor of the Metropolis Mall in Moscow, the debut store opening sees the premium British womenswear retailer joining the likes of Karen Millen, DKNY and Michael Kors in offering its products to affluent Russian consumers. LK Bennett previously teamed up with Russian fashion firm Easy Fashion Group for its foray into Russia, silently opening its store in August.

LK Bennett’s Russian debut follows on from a 2 million pound injection the fashion label received from its private equity backers in support of its international push into Russia and other markets, including China, where LK Bennett shoes concessions has been trading "very strongly." In addition to its debut in Russia, which was first announced last May, LK Bennett is set to open two new stores in mainland China, according to a report in the Telegraph.

LK Bennett opens debut store in Moscow Metropolis Mall

The recent cash boost from its backers, private equity firms Phoenix Equity Partners and Sirius Equity, who have own the premium womenswear retailer for the past ten years, has lead to recent buzz that LK Bennett could be headed a potential sale. If LK Bennett is headed for the UK fashion selling block, it will be in good company as it joining the likes of premium fashion retailer Jaeger and Aquascutum, with the latter recently being acquired by Jining Ruyi Investment for 95 million pounds.

But sources maintain that both backers are dedicated to remaining onboard and supporting LK Bennett's international expansion plans, which also included the opening of another store in New York, US, located at the new World Trade Centre last August. At the moment approximately 25 percent of LK Bennett's sales stem from its international presence, a percentage the premium fashion retailer is eager to boost and places it in favoured positioned in comparison to other British fashion retailers who will have to grapple with increasing import costs from the weaker sterling.

The string of international stores openings is currently being overseen by LK Bennett's new Chief Executive Officer, former BHS boss Darren Topp. He was brought on board last September, together with Michael Hitchcock, an ex-BHS financial consultant, to strengthen and speed up the brand's international growth. Since their appointment at LK Bennett, the two have overhauled the retailer's senior management team and are set to boost the brand's presence in the UK with a string of new concession stands in John Lewis.

LK Bennett was first founded by Lina Bennett in 1990 in London, who aimed to bring a bit of Bond Street to the high street. In 1998 the retailer expanded its footwear collections with women’s ready to wear and since then the brand favoured by Catherine, Duchess of Cambridge, has grown to operate over 130 stores across the globe, with stores across the UK, the US and the Middle East.

FashionUnited has contacted LK Bennett for more information on its debut in Russia.

Photos: LK Bennett SS17-18, Facebook