Karen Millen news and archive

Boohoo issues profit warning as consumer demand slumps

For the six months to August 31, Boohoo Group’s net revenue declined 10 percent to 882.4 million pounds amid “macro-economic headwinds facing both consumers and businesses”. The company said it expects for a similar rate of revenue decline to persist over the remainder of the financial year if the “current conditions” continue. Boohoo now...

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Boohoo forecasts flat sales growth in H1 2023

Boohoo Group Plc recorded a revenue increase of 14 percent reported and currency adjusted to 1.983 billion pounds in the year to February 28, 2022. Revenue over the two-year period increased by 61 percent from 1.235 billion pounds in 2020, at a time when apparel markets globally remain below pre-pandemic levels. The company said that the trends...

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Boohoo publishes another quarter of strong results

Boohoo Group plc reported strong revenue growth of 44 percent across all key geographic regions to 473.7 million pounds (614.8 million dollars) for the four months ended 31 December 2019. The company said in a statement that gross margin for the four months was 53.5 percent, down 70 bps. Boohoo revenue of 232.6 million pounds (301.8 million...

Retail

Karen Millen and Coast close all stores

Karen Millen and Coast have reportedly closed all their stores and concessions after being bought by online fashion retailer Boohoo in August. Administrators from Deloitte confirmed to Drapers that a total of 32 Karen Millen and Coast stores in the UK shut on 29 September, while all their 117 UK concessions closed the following day. Last month,...

Business

Karen Millen Australia enters administration, 7 stores to close

The Australian arm of Karen Millen has fallen into administration, a month after its British parent company announced an administration filing. Deloitte partners Richard Hughes, Tim Norman and Michael Billingsley have been appointed Joint and Several Administrators. Deloitte Australia is now conducting a wind down of the company’s seven...

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Boohoo raises full year revenue forecast

Boohoo Group plc has announced that trading for the first half of its financial year has been ahead of expectations with strong revenue growth driving operating leverage across key brands. The company’s board now anticipates that results for the current financial year will be ahead of previous guidance, with group sales growth now expected to be...

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Boohoo’s acquisition of Karen Miller and Coast might unleash more deals in the industry

New York –British online fashion retailer Boohoo plc. announced earlier this week it had made an offer to buy “the online business of renowned British brands Karen Millen and Coast, together with all associated intellectual property rights.” Boohoo has bought the online business and all associated intellectual property rights of both businesses,...

Business

Karen Millen signs worldwide footwear license agreement with Pentland Brands Limited

British brand Karen Millen has appointed Pentland Brands Limited, a division of Pentland Group, as its global footwear license partner. The partnership will allow for Karen Millen to expand its footwear line and make the shoes available for sale at more retailers around the world. Currently, Karen Millen shoes are only available at the brand’s...

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Karen Millen, Shoe Zone named for failure to pay minimum wage

Karen Millen and Shoe Zone feature among the list of around 180 employers named and shamed by the department for Business, Energy and Industrial Strategy (BEIS) for underpaying more than 9,000 minimum wage workers by 1.1 million pounds (1.5 million dollars). Along with recovering backpay for 9,200 workers, the government also fined the employers...

Video

Video: Karen Millen SS18 Press Day

Press Day Spring/Summer collection 2018 at Karen Millen. Source: Karen Millen, YouTube

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Karen Millen wins legal case against eponymous founder

London - Karen Millen, founder of the eponymous fashion brand under the same name, has lost a high court ruling regarding the right to use her own name for a homeware and lifestyle endeavor she aimed to launch in the US and China. The legal dispute stemmed from an agreement Millen made in 2004, when the fashion designer, who founded the brand...

People

Mike Shearwood steps down from role as CEO at Karen Millen

Karen Millen is down one Chief Executive, as Mike Shearwood has left the company after plans for a management buyout were cancelled. His departure from the contemporary women's wear label comes with little warning as Karen Millen confirmed it is "disappointed to announce the departure by mutual agreement of CEO Mike Shearwood," in a press...