THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE

Boohoo to acquire 66% stake in Pretty Little Thing

Online fashion retailer Boohoo.com is to acquire a 66% stake in Pretty Little Thing for £3.3 million.

FASHION

Boohoo to acquire 66% stake in Pretty Little Thing

The company said the remaining 34% will be used to incentivise Pretty Little Thing chief executive Umar Kamani and the senior management team. Boohoo will then have the option to acquire the remaining stake at market value in February 2022.

Pretty Little Thing grew its revenue by over 400% to £17 million in the year to 29 February 2016 and in the six months to 31 August, revenue climbed to £19 million from £6.4 million in the same period a year earlier.

The company said the transaction will complement its presence both in the UK and overseas.

Peter Williams, chairman of the Boohoo Group, said: "Pretty Little Thing was always going to be a natural fit with boohoo. Umar and his team are to be congratulated for creating a fantastic brand, which complements boohoo's own inclusive and innovative brand, and we are delighted to add this fast growing, international business to the group. We believe this is an excellent opportunity to extend the group's overall customer appeal through two distinct, complementary brands while further enhancing the group's strong growth trajectory.”

As well as announcing the acquisition, Boohoo said it now expects to deliver full year revenue growth of between 38% and 42% against previous guidance of between 30% and 35% following strong trading across Black Friday and the peak trading period.

It also expects to achieve an EBITDA margin of between 11% and 12% against previous guidance of around 11%.

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 EVENTS

GDPR for Marketing Forum 2018
GDPR for Marketing Forum 2018
25th May 2018
Cavendish Conference Centre, London WG1 9DT
Taking advantage of the new GDPR guidelines to maximise customer engagement and loyalty.
Retail Customer Engagement Summit
Retail Customer Engagement Summit
5 June 2018
Cavendish Conference Centre, London W1
The 9th Annual Retail Customer Engagement Summit
Dentons Future of Retail Law Conference 2018
Dentons Future of Retail Law Conference 2018
14th June 2018
The Altitude SW1P 4RS
Dentons Future of Retail Law Conference 2018
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