Karen Millen is collaborating with Lyskraft to penetrate the Indian market.
- The partnership will see Karen Millen’s presence in 50 new stores across India.
- Lyskraft, established in 2023, will spearhead this launch with significant seed funding.
- Karen Millen aims to replicate its Middle Eastern success in India.
- Both companies are eager to redefine premium fashion in India.
Karen Millen, a premium womenswear brand affiliated with Boohoo Group, is strategically entering the Indian market through a collaboration with Lyskraft. This venture signifies the commencement of Karen Millen’s wholesale operations in India, facilitated by the forthcoming establishment of 50 Lyskraft stores over the next few years.
Lyskraft, a multi-brand fashion platform, was founded in 2023 and has quickly amassed $26 million in seed funding. With its growth trajectory, Lyskraft is poised to play a pivotal role in integrating global fashion brands, like Karen Millen, into the Indian retail landscape.
Mark Barraclough, COO of Karen Millen, expressed optimism about the venture, referencing the brand’s achievements in the Middle East with partner Voga Closet. He stated, “After the huge success we’ve seen in the Middle East with our wholesale partner Voga Closet, we are looking forward to working with Lyskraft.” Barraclough emphasised that this move is a crucial opportunity to establish a physical presence and test the viability of the Indian market.
Mohit Gupta, CEO of Lyskraft, highlighted the importance of this exclusive partnership, which aims to “redefine premium fashion” in India and enhance consumer access to international brands. This collaboration is anticipated to enrich the retail options for discerning customers in the region.
Both Karen Millen and Lyskraft view this partnership as a milestone, with hopes to replicate international successes in a burgeoning market. Karen Millen’s strategy involves not only launching in India but also exploring further wholesale opportunities in other territories.
The collaboration between Karen Millen and Lyskraft marks a significant step in introducing premium global fashion to the Indian market, with potential benefits for both parties as they expand their international presence.
