Aurora Fashions owner of Coast, Karen Millen, Oasis and Warehouse, plans to establish Karen Millen as an independent company.
Derek Lovelock, chairman of Aurora, will become executive chairman of Karen Millen, working with joint managing directors Gemma Metheringham and Steve Price.
The news follows Aurora’s restructuring of its support functions, including outsourcing distribution to WT.
Metheringham and Price said: “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 c60 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.”
Karen Millen operates in 40 countries around the world with global retail sales1 of circa £250
million and employs over 1,800 people. The company’s international presence comprises both owned businesses and franchise partnerships.
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