The online fashion retailer is looking to buy Burton, Wallis and Dorothy Perkins from Sir Philip Green’s Arcadia Group.
Boohoo is the latest company to join the bidding for Arcadia Group’s brands. This morning, the company revealed that they were negotiating with administrators regarding the purchase of three of the brands.
Boohoo made a short statement regarding the news: “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.”
The news comes off the back of Boohoo’s recent acquisition of the Debenhams brand and website earlier this week, which they are paying £55M for. The brand has prior history of purchasing brands and turning them into online-only stores, including the likes of Karen Millen, Coast and Oasis. Due to this, it is thought that any successful deals would not see Boohoo take on physical store estates.
Also in the running for Arcadia’s brands is rival online platform ASOS along with Authentic Brands Group and Frasers Group.
