Pen-name for UK based contributor and assistant editor of Vague magazine 1988-1991.
Possibly an alias for Stewart Home: "Karen Eliot is a name that refers to an individual human being who can be anyone. Anyone can become Karen Eliot simply by adopting the name, but they are only Karen Eliot for the period in which the name is used. Karen Eliot was materialised, rather than born, as an open context in the summer of '85" (Neoism. Plagiarism & Praxis by Stewart Home).
Other names used in this way were Monty Cantsin, Bob Jones and Mario Rossi.