Boohoo looks to acquire Karen Millen and Coast
Online fashion retailer Boohoo has confirmed that it has made an offer to acquire the online businesses of Karen Millen and Coast.
The company will also look to buy all associated intellectual property rights.
In a statement to the Stock Exchange this morning, Boohoo said: “The group believes that the online business of these brands would represent highly complementary additions to its scalable multi-brand platform and extend the group’s offer as part of its vision to lead the fashion ecommerce market globally.”
It also said there was no guarantee that the deal would go through.
Sky News reported yesterday that sources had told it that the businesses would be bought by Boohoo through a pre-pack administration deal once Deloitte was appointed as administrator to Karen Millen.
Boohoo also owns the Pretty Little Thing and Nasty Gal brands.
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