Karen Millen Up For Flotation
Fashion Group Karen Millen is reportedly planning a possible flotation by its controller Kevin Stanford, who is seeking investment advice. The appointment of an investment bank would be contingent on Stanford not signing a deal with Icelandic retail group Baugur to buy a stake of the business. Karen Millen and Baugur are thought presently to be negotiating.
19 April 2004
Karen Millen moves into Germany
British womenswear retailer Karen Millen is trying its luck in Germany. The Maidstone-based company, which abroad operates own stores in Amsterdam, Antwerp, Stockholm and Gothenburg, will open a test store in Hamburg next month. If trading proves successful Karen Miller may look for locations in Munich, Frankfurt, Berlin and Düsseldorf.
The company was founded in 1981 by Kevin Stanford and Karen Millen and offers women between 18 and 40 eight design led moderately priced collections per year including shoes, handbags, belts and cosmetics. The founders plan to continue the company's current international expansion with own stores.
Karen Millen operates 40 stores in the UK and has franchise stores in Monaco, Island, Kuwait, Saudi Arabia, Greece and Lebanon. An own store will open shortly in Copenhagen. In the year ended 28 February 2002, the company achieved a turnover of GBP 60m (€ 95.4m).
10 January 2002