Chinese Agents Bought The Bankrupt British Shoe Brand LK Bennett.

LK Bennett Ltd., the UK's high-end shoe footwear retailer, who was caught in bankruptcy trusteeship, was rescued. Its Chinese agent bought the company's UK business and franchise.

Rebecca Feng Feng Kangjie, which owns Beijing collection gallery business limited, Beijing Shang Mingze Trading Co., Ltd., and linglingjin (Beijing) Trading Co., has become the new owner of the shoe brand in the UK.

Feng Kangjie used Byland UK, which was registered in the UK in March, to acquire LK Bennett Ltd., neither of which has been disclosed.

The paction will enable LK Bennett to be rescued in 21 stores and 325 employees in the UK / Ireland, but 15 other stores will be closed and 110 people will be laid off.

Feng Kangjie said in a trade statement that LK Bennett is a high quality pronoun and has the opportunity to expand its influence in overseas markets. According to its plan, the company's overseas market operations will continue to operate.

However, the acquisition does not include LK Bennett Ltd.'s overseas subsidiaries, and Feng Kangjie's brand franchise guarantees that it will continue to operate in the Chinese market.

LK Bennett Ltd.'s joint manager Dan Hurd said the British shoe company is a mature luxury brand with many quotations.

It is reported that the largest sporting goods retailer in the UK is Sports Direct International PLC (SPD.L) and House of Fraser department store, and the frequent retail tycoon Mike Ashley Mike Ashley, the high street brand Fraser parent company, the owner of Harris Harris, and the former chairman of the British Fashion Association are all interested in bidding. However, the news is that the company is busy buying the same government bankruptcy trusteeship and has 241 years of history, so there is no time to take account of the paction.

Feng Kangjie, a Chinese businesswoman who acquired LK Bennett, is the spouses of Hylink Digital Solutions Co., Ltd (603825.SS) Hua Yang Lian Zhong digital technology Limited by Share Ltd real controller and chairman Su Tong of mainland China, and has worked for many advertising companies.

At the beginning of this year, Feng Kangjie spent 200 thousand pounds in the form of capital raising rights to become a company of Hylink UK (Digital) Solution Ltd., a company in the UK's main industry engaged in online marketing.

As part of the paction, LK Bennett Ltd. CEO Darren Topp and chief financial officer Andrew Ellis will cooperate with BylandUK to restructure LK Bennett.

LK Bennett Ltd. was founded in 1990 by Linda Bennett at the first store in Wimbledon, London.

In 2008, Linda Bennett sold 70% of its brand to Phoenix Equity Partners and Sirius Equity Partners for 70 million pounds. After the company got into trouble, she returned in 2017 as a consultant, and finally repurchased the holdings of two private Holdings Company in September.

According to the latest earnings report, LK Bennett Ltd. achieved sales of 77 million 400 thousand pounds in the fiscal year ending July 29, 2017, down 1.8% from the same period last year, and recorded a pre tax loss of 48 million pounds due to goodwill impairment and business restructuring, operating losses of 5 million 900 thousand pounds, while operating profit of 100 thousand pounds a year ago.

Since its return, Linda Bennett has already lent more than 11 million 200 thousand pounds to the company.

In 2017, Wells Fargo & Co., the Wells Fargo Capital Finance and Wells Fargo capital financial company, also granted the asset mortgage loan, is also the main creditor of LK Bennett Ltd..

The bankruptcy of LK Bennett is a drop in the British retail industry in the past few years. But the brand is deeply concerned by the princess of Cambridge, Kate Middleton Kate, but it has only increased the number of British brands covered by the curse of the princess.

LK Bennett's high-heeled shoes and dresses are commonly seen in the public form of Princess Kate and British Prime Minister Theresa May Wen TSE Shan.

But many consumers complain that since the brand has become a frequent wardrobe for Kate's wardrobe, the LK Bennett signboard has a starting price of 195 with high-heeled shoes, and the most expensive fur coats retail price is up to 1495 pounds, while most of the dress is priced at 295 pounds or more.

Catherine Shuttleworth, chief executive of Savvy Marketing, a consumer marketing consultant, points out that such a price is certainly wet to the Duchess of Cambridge, but "most British women have to think twice about spending 200 pounds on a skirt, let alone 300 pounds".

Glen Tooke, a consumer research analyst at market research firm KantarWorldpanel, thinks the problem is that the target audience is not clear.

Linda Bennett, known as Britain's "Queen ofKitten-Heel (Queen of cat and shoe)", has said it wants to bring some of the luxury of Bond Street to high street through LK Bennett. However, it is clear that high street customers have no fortune to enjoy the price of Bond Street.

During last year's visit, Linda Bennett pointed out that the United Kingdom had created a huge problem without Europe, not only the "unprecedented exchange rate (pound depreciation)", but also the possibility that Spain's shoes would enter the British market.

"From a business point of view, this is a complete nightmare," she told reporters.

Meanwhile, changes in consumer habits and a series of heavy costs, including business taxes and rent increases, are weighing heavily on physical retailers.

Before LK Bennett Ltd., Princess Kate's favorite designer brand Issa, the brand of the blue skirt announced when she was engaged, and Orla Kiely almost collapsed. Two.

Dan Hurd pointed out that in the extremely difficult business environment for retailers, the company was further affected by the increase in store rents and the increase in business tax rates.

On the other hand, House ofFraser Ltd., a bankruptcy department store last year, also defaulted 418 thousand of the company.

Claire Shields, a brand expert, points out that the Kate effect and even the popularity of celebrities are both good and bad for retailers.

Taking Kate's case as an example, her personal demonstration will undoubtedly boost sales significantly.

On the other hand, she has a good habit of wearing old clothes, and every time she wears the old money to stimulate brand demand, the cost of developing the old brand in a timely manner is enormous.