Karen Millen hails 10% jump in record Christmas sales
Karen Millen managed to shrug off wider concerns for high street brands this Christmas after posting a 10 per cent rise in sales in the five weeks to 5 January.
The Shoreditch-based fashion brand managed a 9 per cent increase on a like-for-like basis, compared with the same period last year.
On an international scale, where Karen Millen retails across the US, Indonesia, Europe and Russia, sales were strong, up 25 per cent in Spain and 22 per cent in France.
Despite managing to outperform a number of its competitors over the peak trading period, Karen Millen chief executive Mike Shearwood told the Independent that the brand had “lost its way in the UK”, and must refocus its efforts in its domestic market, if it can continue to expand overseas.
Shearwood told the paper that he believed not enough has been made of Karen Millen’s manufacturing process, whereby all 500 items of each collection are initially made in its offices in Shoreditch.
Looking ahead, Karen Millen plans to continue expanding internationally, adding 65 stores to its portfolio, across 58 countries worldwide, bringing its total up to 400. The company also hinted that a management buyout could be on the cards.