Boohoo to acquire the Burton, Dorothy Perkins and Wallis brands
Online fashion retailer Boohoo is to acquire the Burton, Dorothy Perkins and Wallis brands from the administrators of Arcadia Group.
The £25.2 million transaction will include the brands’ ecommerce and digital assets as well as associated intellectual property rights, including customer data, related business information and inventory.
In a statement, Boohoo said the acquisition will help it grow its market share across a wider demographic and strengthen its menswear proposition.
Mahmud Kamani, Boohoo executive chairman, said: “This is a great acquisition for the group as we extend our market share across a broader demographic, capitalising on growth opportunities as more and more customers shop online. We continue to grow our portfolio of brands and customer base, strengthening our position as a leader in global fashion ecommerce.”
The brands had over two million active customers in 2020.
John Lyttle, chief executive of Boohoo, said: “Acquiring these well-known brands in British fashion out of administration ensures their heritage is sustained, while our investment aims to transform them into brands that are fit for the current market environment. We have a successful track record of integrating British heritage fashion brands onto our proven multi-brand platform, and we are looking forward to bringing these brands on board.”
The transaction is expected to complete on 9 February. It does not include the brands’ retail stores, concessions and franchises.
Last month, Boohoo also agreed to acquire the Debenhams brand and website.
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