Gordon Brothers acquires LK Bennett, plans asset-light model

Global asset management firm Gordon Brothers has acquired the British heritage brand LK Bennett and its related intellectual property assets from the joint administrators of LK Bennett Fashion Limited. The deal, announced on January 28, 2026, follows the second collapse of the brand since 2019 amid a “challenging business and retail environment”.

Strategic transition to asset-light model

As the new owner, Gordon Brothers plans to shift LK Bennett toward an asset-light business model. This strategy mirrors the previous revitalisation of the Laura Ashley brand by the firm, focusing on high-margin licensing rather than the high overhead of traditional physical retail.

Key components of the go-to-market strategy include moving the luxury label toward a low-cost, digital-centric operating model, building a portfolio of licensees and franchisees to bolster global brick and mortar and e-commerce presence, developing more strategic wholesale and retail partnerships and investing in product development and “creative and innovative marketing opportunities” to engage both long-time followers and new global customers.

Financial context and administration

LK Bennett entered administration in early January 2026 after failing to secure a last-minute rescue deal. Financial filings for the year ended January 27, 2024, showed a post-tax loss of 3.5 million pounds (4.8 million dollars) on turnover of 42.1 million pounds (58 million dollars) — a decline from the 48.8 million pounds reported the previous year.

Prior to its collapse, the brand operated nine standalone stores and 13 concessions across the UK and Ireland, down from a peak of approximately 200 locations globally. Next Plc had reportedly weighed a “cut-price offer” for the brand's intellectual property but ultimately withdrew, allowing Gordon Brothers to secure the acquisition.

Portfolio and heritage

Founded in 1990 by Linda Bennett, the brand became a destination for “effortless, elevated dressing” and was famously championed by figures such as the Princess of Wales. Tobias Nanda, head of brands at Gordon Brothers, stated that the firm is “proud to steward the brand into the next phase of growth,” preserving its reputation for “impeccable craftsmanship and quality”.

LK Bennett joins a Gordon Brothers portfolio that has included brands such as Nicole Miller, Telefunken, Rachel Zoe and Bench.