boohoo acquires three more retailers for £25m

Following its £55m acquisition of the intellectual property of Debenhams, boohoo has bought the digital assets of Burton, Dorothy Perkins and Wallis for £25m.

The brands have been acquired from the Arcadia group, which is currently in administration. The deal covers all of the e-commerce and digital assets and associated intellectual property rights, including customer data, related business information and inventory of the three brands.

The acquisition does not include any of the physical stores. The three names will join the online-only roster at boohoo, which operates a major distribution hub in Burnley.

John Lyttle, CEO of boohoo, said: "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."

The transaction will be financed through the group’s existing cash resources, which stood at £387m on 31 December 2020, prior to the acquisition of Debenhams.