This ad will be closed automatically in X seconds.

Boohoo to ‘rebuild and relaunch’ Debenhams after acquisition

Online fashion retailer acquires brand and website for £55m; acquisition will help its aims to grow into new categories including beauty, sport and homeware.

Ambitious online fashion retailer Boohoo intends to ‘rebuild and relaunch’ the Debenhams platform at the same time as expanding its reach into new categories.

It was confirmed this morning (January 25) that Boohoo has acquired the Debenhams brand and website for £55 million. However, the deal does not include Debenhams’ retail stores, stock or any financial services.

Debenhams’ online platform was a strong draw for Boohoo – it has approximately 300 million UK website visits per annum, making it a top ten retail website in the UK by traffic.

Boohoo is now planning to create the UK’s largest marketplace across fashion, beauty, sport and homeware, expanding the range of products sold via the Debenhams marketplace.

For beauty category, the group will continue to operate the current wholesale model, but will also look to add new beauty brands via the marketplace model, while Debenhams’ own fashion brands will be absorbed into Boohoo’s current brand portfolio and sold via the core Debenhams site and their own pureplay websites, reported Fashion United.

“This is a transformational deal for the group, which allows us to capture the fantastic opportunity as ecommerce continues to grow,” said Mahmud Kamani, executive chairman of Boohoo. “Our acquisition of the Debenhams brand is strategically significant as it represents a huge step which accelerates our ambition to be a leader, not just in fashion ecommerce, but in new categories including beauty, sport and homeware.”

John Lyttle, ceo of Boohoo, added: “The acquisition of the Debenhams brand is an important development for the group, as we seek to capture incremental growth opportunities arising from the accelerating shift to online retail.”

Debenhams is expected to relaunch on the group’s platform in the first quarter of FY22.

Debenhams will continue to operate its website for an agreed period before the relaunch on the group’s platform, while a licence has been granted to allow for the winding down of Debenhams’ retail stores.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
PrimarkLionKing500x500
 
In a first for Primark in collaboration with Disney’s The Lion King, all the clothing in the collection is made using recycled or more sustainably sourced materials....
LOLHamleys500x500
 
MGA Entertainment's L.O.L. Surprise has unveiled a new shop in shop space in Hamleys on London's Regent Street....
TfLLondonSpirit500x500
 
Transport for London and London Spirit have once again teamed up ahead of the return of The Hundred, with a new London Underground-inspired playing shirt to be worn in the opening home fixture....
HumanLoveBigPicture500x500
 
"We have always looked for unique IP from different parts of the world; when we first saw Human Love, we immediately fell ‘in love’ with it and what the brand represents for all couples of all types around the world."...
MaitlandxPoate500x500
 
Maitland & Poate haș collaborated with journalist, author and founder of Mad About The House, Kate Watson-Smyth on a range of new handmade tiles....
BlueZooRSPB500x500
 
The animation studio has collaborated with GOOD Agency to craft a series of short films for the Royal Society for the Protection of Birds to support engagement with young audiences under the banner 'We Campaign Because They Can't'....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.