Boohoo has confirmed that it has concluded negotiations for Arcadia’s Dorothy Perkins, Burton and Wallis brands from administrators for a notional sum of £25.2 million. This includes the eCommerce and digital assets, IP, data and inventory for each of the brands but does not include stores or protect any jobs. The deal is set to complete on February 9th.
Boohoo will leverage the brands to broaden its appeal and, along with its recent Debenhams buy, will enable the business to attract new customers.
John Lyttle, Boohoo CEO said: “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.”
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