THE RETAIL BULLETIN - The home of retail news
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Health & Beauty
General Merchandise
Sports & Leisure
Retail Solutions
Food & Drink

Boohoo seeks to acquire Nasty Gal

Online fashion retailer Boohoo has embarked on a process to acquire certain intellectual property assets from US retailer Nasty Gal for US$20 million.


Boohoo seeks to acquire Nasty Gal

Nasty Gal filed for Chapter 11 Bankruptcy Code protection in the US Bankruptcy Court on 9 November. Subject to US court approval, Boohoo’s subsidiary Boohoo F I Limited will be appointed as the "stalking horse" bidder for the Nasty Gal brand and customer databases, in accordance with Section 363 of the United States Bankruptcy Code.

The sale of the Nasty Gal assets will be governed by a court approved bidding process lasting at least 30 days. Boohoo said its bid may not result in a transaction if higher or more favourable offers are obtained by Nasty Gal during the auction process.

Founded by Sophia Amoruso in 2006, Nasty Gal delivered net revenue of US$77.1 million in the year ended 1 February 2016. This includes revenue from vintage clothing and third party brands, which are excluded from the proposed transaction. The company made a net loss after tax of US$21.0 million after taking into consideration operating costs. The proposed transaction relates to the acquisition of intellectual property assets only and excludes all operating costs.

Boohoo said the acquisition of the fashion forward brand would accelerate its international growth, particularly in the US, as it looks to build on its existing customer reach and product range across the globe.

Mahmud Kamani and Carol Kane, Boohoo joint chief executives, said: “Should we be successful in acquiring Nasty Gal it would represent a fantastic opportunity to add such a well-established, global brand to the Boohoo family. Following our recent acquisition of we believe this would represent an ideal next step in inspiring an ever-growing range of young customers internationally."

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News


Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy