Boohoo has confirmed that it has acquired the remaining brands from fallen retail empire Arcadia, in a move that will see the Burton, Dorothy Perkins and Wallis brands added to the online retailer’s portfolio.
Following a £25.2m transaction, the group will acquire all of the e-commerce and digital assets of the brands, as well as their associated intellectual property rights, including customer data, related business information and inventory.
The transaction, which is financed through the group’s existing cash resources, does not however include the HIIT brand or the brand’s retail stores, concessions or franchises.
The group said it marks a “significant” opportunity to grow its market share across a broader demographic, and strengthen its position as a “leader” in the global fashion e-commerce market.
In particular, the acquisition of Burton will strengthen Boohoo’s menswear proposition, according to the group, alongside its boohooMAN range and the recently acquired Maine and Mantaray brands.
John Lyttle, CEO, commented: “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. 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.”
Mahmud Kamani, executive chairman, said: “This is a great acquisition for the Group as we extend our market share across a broader demographic, capitalising on growth opportunities as more and more customers shop online.
“We continue to grow our portfolio of brands and customer base, strengthening our position as a leader in global fashion e-commerce.”
It comes only weeks after Asos confirmed that it would acquire the Topshop, Topman and Miss Selfridge brands following the collapse of Sir Phillip Green’s group. Following the move, around 300 employees across design, buying and retail partnerships joined the online business.