boohoo group plc Acquires British heritage brands Dorothy Perkins, Wallis and Burton

boohoo, an online fashion retailer, is pleased to announce that it has agreed to acquire all of the e-commerce and digital assets and associated intellectual property rights, including customer data, related business information and inventory of the Burton, Dorothy Perkins and Wallis brands (“the Brands”) from the joint administrators of Arcadia Group Limited (in administration) and its relevant subsidiaries (“the Transaction”). boohoo will pay £25.2 million in cash, funded from existing cash resources, on completion.

Strategic Rationale

  • Significant opportunity to grow boohoo’s market share across a broader demographic
    • The Brands had over two million active customers in 2020
    • Strengthens boohoo’s position as a leader in the global fashion e-commerce market with over 15 brands across the Group’s scalable multi-brand platform
  • Strengthening boohoo’s menswear proposition
    • Burton is an established brand which will enhance boohoo’s menswear portfolio in addition to boohooMAN and the recently acquired Maine and Mantaray brands
  • Additional own label brands to support the Group’s new Debenhams marketplace
    • Two routes to market across pureplay websites and the Group’s marketplace

John Lyttle, CEO, commented:

“We are delighted to announce the acquisition of the assets associated with the online businesses of the three established brands Burton, Dorothy Perkins and Wallis. 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.”

Mahmud Kamani, Executive Chairman, commented:

“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 e-commerce.”

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