boohoo confirms discussions over acquisition of Arcadia Group fashion brands
Online fashion company boohoo has announced that it is in talks with the administrators of a retail group Arcadia.
boohoo, which owns high street brands Karen Millen and Oasis, as well as online names such as PrettyLittleThing, has confirmed that it is in exclusive discussions to acquire three of Arcadia Group’s brands.
Dorothy Perkins, Wallis, and Burton - excluding HIIT gym wear - are the names that could be joining boohoo’s portfolio.
This comes less than a week after boohoo confirmed that it has acquired Debenhams and plans to relaunch it online.
The news follows Arcadia Group’s collapse toward the end of last year, which saw it go into administration as the pandemic affected trading.
Earlier this week, rival fashion group ASOS announced that it is in talks to acquire Arcadia Group’s Topman, Topshop, Miss Selfridge and HIIT brands.
boohoo commented: “The group confirms that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton (excluding HIIT) brands.
“These discussions may or may not result in agreement of a transaction. A further announcement will be made when appropriate.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.