L.K.Bennett - Operational Review
About the brand
L.K.Bennett is a premium women’s footwear and clothing retailer in the UK in the aspirational luxury segment. The business was acquired by Phoenix Equity Partners and Sirius Equity in 2008. It currently operates over 160 global points of sale and has a turnover of c.£90m.
As part of the acquisition of L.K.Bennett by its current owners, Pragma was asked to conduct a business evaluation and operational review to identify opportunities for sales and profit improvement. Pragma subsequently worked closely with the business to support the on-going growth and optimisation of the proposition.
WHAT WE DID
- Evaluated staffing needs for all stores and made recommendations for improved rosters
- Location strategy for new store openings
- Developed a brand framework to identify the customer profile across all product categories, with particular attention to the core target customer
- A strategic review of L.K.Bennett’s customer proposition and operation, highlighting areas for strategic investment
- Visited and assessed all stores in the portfolio and evaluated against KPI templates
- Evaluated IT and logistical processes
- Equity LLP
L.K.Bennett has seen wide ranging operational changes, with significant improvement in operational efficiency and practices, leading to improved sales and profitability.