Karen Millen is making a strategic entry into India, launching in 50 stores via Lyskraft.
- This move is part of a global expansion strategy by the Boohoo-owned brand.
- Lyskraft, a multi-brand platform founded in 2023, is partnering with Karen Millen.
- The collaboration underscores ambitions for growth in new international territories.
- Executives from both companies express optimism about reshaping premium fashion in India.
Karen Millen, a brand under the Boohoo Group, is embarking on a strategic expansion into the Indian market. This initiative will see the premium womenswear brand introduced across 50 planned retail locations in partnership with the fashion platform, Lyskraft. Founded in 2023, Lyskraft secured $26 million in seed funding, setting a robust foundation for its operations, and is instrumental in facilitating Karen Millen’s Indian debut.
The wholesale launch comes on the back of Karen Millen’s successful ventures in other international markets, notably the Middle East with partner Voga Closet. Mark Barraclough, COO of Karen Millen, highlights this partnership as a pivotal opportunity for the brand to establish a foothold in a new market and gather insights through a physical retail presence. ‘This serves as a great opportunity for the brand to have a physical presence and test a new market,’ Barraclough stated, underscoring the milestone in their expansion strategy.
The collaborative effort is echoed by Mohit Gupta, CEO of Lyskraft, who emphasised the significance of this venture in redefining premium fashion within India. ‘This exclusive collaboration marks a significant step for Lyskraft as we bring exciting new global fashion brands closer to our discerning customers in India,’ Gupta commented, reflecting the shared vision of both companies to enhance the premium fashion landscape.
Karen Millen’s exploration of wholesale opportunities beyond this venture signals the brand’s ambitious drive towards a more extensive global reach. As part of the Boohoo Group’s international strategy, this partnership with Lyskraft not only represents a strategic business decision but also reflects a broader trend of global fashion brands capitalising on emerging markets.
The partnership between Karen Millen and Lyskraft marks a significant stride in international fashion retail expansion, with promising prospects for growth in the Indian market.
