The British online fashion retailer Boohoo is taking over the remaining brands of the bankrupt retail group Arcadia. Asos previously bought the biggest brands.
Broadening the range
Boohoo is buying the following brands for just over 25 million pounds (28.5 million euros): Dorothy Perkins, Burton and Wallis. The e-tailer is only buying the trademarks, not the stores. It means 214 stores will have to close their doors permanently. Boohoo is putting another 8 million pounds (9 million euros) on the table for the remaining inventories.
Barely a fortnight ago, the online fashion platform got its hands on the trademarks and the Debenhams webshop. That deal was worth 55 million pounds (62 million euros).
The acquired Arcadia brands should help Boohoo to expand its market share and broaden its customer base, which until now focused on teenagers and young adults. Burton, in particular, should strengthen its menswear offering, writes Bloomberg.
The sale of Dorothy Perkins, Burton and Wallis has now completely dismantled the Arcadia empire of founder Sir Philip Green. Asos previously bought the brands Topshop, Topman, Miss Selfridge and HIIT, while Evans fell into the hands of City Chic. In total, these sales raised more than 500 million pounds (570 million euros) for the creditors.