Fast-fashion giant Boohoo has acquired the pioneer high street fashion outfit, Dorothy Perkins, together with other two Arcadia brands Sir Phillip Green’s brands; Burton and Wallis for £25.2million.
Boohoo which has rescued Debenhams, Oasis, and Warehouse since the start of the pandemic, said that it would buy all the e-commerce and digital assets of the three brands, as well as their inventory.
However, the deal does not include the brands’ retail stores, concessions, or franchises, with 214 stores not reopen after lockdown measures are eased
Completion of the transaction is expected on February 9 – when all the three websites will be redirected to Boohoo online
According to Boohoo’s chief executive, John Lyttle acquiring the legendary fashion brands will help sustain the culture that has been behind them as they make it to match up with the current trends.
“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.”
He further explained that his company has not been all about selling fashion but preserving the British custom as well.
“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.”
Founded in Manchester in 2006, Boohoo typically specializes in fast-fashion for twenty-somethings.
This is not the first time that Boohoo is purchasing fashion brands, In early 2017, the group acquired fashion brands PrettyLittleThing and Nasty Gal.
As of August 31, 2020, the fashion group had just over 17million active customers across all its brands around the world.
Dorothy Perkins is a multinational women’s fashion retailer based in the United Kingdom. Dorothy Perkins sells both its own range of clothes and branded fashion goods. Dorothy Perkins is part of the Arcadia Group, which is controlled by Sir Philip Green.
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