Aurora Fashions announces plans to establish Karen Millen as an independent company
Under the plans announced today Karen Millen will be established as a separate company with Coast, Oasis and Warehouse continuing as part of the Aurora Fashions Group.
Karen Millen operates in 40 countries around the world with global retail sales Global retail sales are the combined VAT-inclusive sales of owned, joint venture, franchise and wholesale stores, concessions and websites.
Derek Lovelock, chairman of Aurora Fashions, will become Executive Chairman of Karen Millen, working with Joint Managing Directors Gemma Metheringham and Steve Price to continue the phenomenal growth story of this 30 year-old design-led business.
Commenting on the new structure, Derek Lovelock said: “Karen Millen is one of the great success stories of British fashion retailing. Our track record is testament to the brand’s tremendous strengths, not least our signature international style and the passion for design and attention to detail that our customers love. Independence will give us the platform to accelerate our international expansion and to focus on the next stage of the Karen Millen journey. Our success, scale and ambitious growth plans mean that this is the next logical step.”
Gemma Metheringham and Steve Price, Joint Managing Directors of Karen Millen, added: “We have benefitted enormously from our position within the Aurora group, during which time Karen Millen has trebled in size and has been transformed from a small UK retailer to a truly global brand with circa 60 per cent of our sales from overseas. We have bold plans for our newly independent business, including opening flagship stores in Paris, Sydney, St Petersburg and Berlin this spring.”
