The British online platform has planned to boost both fashion companies mainly through its online channel.
Boohoo reveals new plans for Karen Miller and Coast. The British ecommerce platform, that acquired both brands last August is planning to boost both fashion companies only through its online channels, according to Drapers.
“Karen Millen’s positioning will not be very different,” she said. “It’s very much about the everyday tailoring and stylish stuff you can wear to the office and go out. It’s very elevated”, the group stated.
It is not the first time that Boohoo goes shopping to acquire a fashion company. In 2016, the company bought Pretty Little Things ecommerce platform for 3.3 million pounds, one year later it took over Nasty Gal for 20 million pounds and last March he acquired MissPap.
Boohoo closed the first half of its fiscal year with a growth of 43%, to 564.9 million pounds (638.4 million euros). The company’s gross profit, on the other hand, rose 40%, to 306.5 million pounds.