Karen Millen to put prices up 5%, says customers will not notice

Karen Millen is to hike shop prices by 5% this year as the retailer faces soaring costs following the collapse of the Brexit-hit pound, with the company also embarking on a strategic review.

Chief executive Beth Butterwick said Karen Millen is grappling with the same challenges as its peers, namely uncertainties around Brexit, the increase to the living wage and currency fluctuations, which have made imported materials more expensive for UK firms.