Chinese Buyers Want To Buy Clothing Brands Like The British Princess And Other Aristocrats.

Chinese buyers in the clothing industry have emerged again.

According to the British Sky News, the British luxury brand L.K.Bennett will be acquired by Byland UK, a British company founded in March, and the deal will be finalized within the next few days.

The owner of Byland UK is Feng Kangjie (Rebecca Feng). Her name is Beijing Lingling brocade Trade Co., Ltd. and Beijing Beijing Trading Co., Ltd. is the Chinese agent of L.K.Bennett.

Due to the failure of financing, L.K.Bennett filed for bankruptcy in early March this year, and the company was administered by former CEO Darren Top and chief financial officer Andrew Ellis.

After the search for new buyers, the brand founder Linda Bennett had withdrawn from the auction in April 2nd, while the London shoe brand Dune and several other buyers had a takeover bid, but so far, Byland UK has the highest bid.

L.K.Bennett has closed several of its 39 Direct stores and 37 franchise stores in the United Kingdom. Last week, L.K.Bennett also declared bankruptcy in the United States.

If acquired successfully, the future development of these shops and employees will also face turbulence.

It is reported that more than 50 employees have been laid off.

Actually, L.K.Bennett, founded in 1990, has been brilliant.

The earliest L.K.Bennett was built on shoemaking. Around 2010, business expanded to shoes, bags, clothing and accessories.

At that time, Britain's new princess Kate was the hero of the fire.

When Princess Kate visited countries in 2011, she almost wore L.K.Bennett's classic shoe series SIGNATURE COLLECTION.

This series of design is simple and generous, so it is popular.

Later, Princess Kate's sister Piper, wife of British Prime Minister Cameron, Samantha, supermodel Kate Moss, and many British stars often wore L.K.Bennett in public to make the brand once become national shoes.

Until now, the biggest selling point of L.K.Bennett is Princess Kate.

After nearly thirty years of development, the overseas layout of L.K.Bennett has been relatively mature, and has been settled in more than ten countries including France, Dubai, Holland and Spain.

There are also 6 shops in China, located in Beijing SKP, Beijing China World Trade Center mall, Xi'an SKP and Wuhan International Plaza, and Tmall flagship store.

But in addition to the United States, the rest of the market's international business is not in the scope of bankruptcy management.

After the fire, L.K.Bennett was somewhat lost.

In order to match their "Princess Wardrobe" sign, once raised the price, trying to become a luxury brand.

This move has led to the loss of many old customers, and it has not attracted more and more customers.

Claire Shields, a British brand expert, once said: "the rise of prices leads to the loss of ordinary consumers, and the celebrity effect can not bring high-end consumers. The awkward position of L.K. Bennett has led to its final collapse."

From the L.K. Bennett public data, we can see that since 2016, the loss has increased dramatically.

The net loss in fiscal year 2016 increased from 1 million 100 thousand pounds in the previous year to 4 million 500 thousand pounds, and the turnover decreased by 1% over the same period last year.

Even the founder, Linda Bennett, came back to try to save the situation.

She sold her stake in the brand in 2007, repurchased it, and injected 11 million pounds into the brand.

But in the 2017 fiscal year, L.K.Bennett lost 5 million 900 thousand pounds.

At present, the valuation of the brand has not yet been disclosed. Insiders believe that the valuation of the brand will be less than 80 million to 100 million pounds in the light of the serious losses of the brand and the severe environment at present.