Boohoo acquires Debenhams for GBP 55 mln

Monday 25 January 2021 13:47 CET | News

Online retailer Boohoo has acquired Debenhams for GBP 55 million in a deal that will see the closure of the high street retailer’s remaining stores, The Guardian reported.

According to the Boohoo's officials, the acquisition of the Debenhams brand represents a transformational deal for the group, as ecommerce continues to grow. The company's ambition is to create the UK’s largest marketplace. Therefore, the initiative will accelerate the company's plans of being a leader, not just in fashion ecommerce, but in new categories including beauty, sport, and homeware. 

Consequently, Debenhams will operate as a digital 'shop window' for Boohoo’s brands, including Pretty Little Thing, and third-party retailers. Although Boohoo will take a commission on third-party sales, it will not not be responsible for delivery or customer service. Debenhams is likely to be expanded internationally in the future.

Furthermore, Boohoo, which is also buying the brands Maine, Manataray, Principles, and Faith, said the remaining stores will be wound down when they are in a position to reopen.

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Keywords: boohoo, retailer, acquisition, Debenhams, UK, marketplace, ecommerce, online shopping
Categories: Payments & Commerce
Countries: United Kingdom
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