Female entrepreneur Linda Bennett has sold her retail chain LK Bennett last week for an amount around 100 million pounds. Buyer is the private equity house, Phoenix Equity.LK Bennett started 18 years ago with an investment of 30 thousand pounds. It became first known as a shoe retailer and still makes 45% of its turnover of about 50 mio pounds on shoes. The remaining percentage is made with clothes and handbags aimed at business women.

LK Bennett has 85 stores in the UK, 3 in Ireland and 1 in Paris, and about 700 employees. It also sells its clothes, handbags and shoes through its internet site.

In 2004 Linda Bennett became Veuve Cliquot Business women of the year. With the new owner it is expected that the company enters into a new phase and expands into Europe. Linda Bennett has re-invested part of the purchase price in the company and will keep a large minority stake in the company.