.Boohoo has made a play for British retailers Karen Millen and Coast.
LONDON — Boohoo Group has acquired the online businesses and intellectual property of British retail brands Karen Millen and Coast for 18.2 million pounds. Boohoo did not buy any of the high street stores and concessions.Boohoo’s purchase left many shopfloor workers fearing the future since 62 job losses have already been announced. At the moment, Karen Millen and Coast will continue their retail store operations in the U.K. and internationally. In the U.K.
“The Boohoo Group seems an unlikely suitor for premium women’s wear brands Karen Millen and Coast, which have strong reputations for quality occasion wear. This contrasts to Boohoo’s focus on selling a high volume of product quickly, offering frequent promotions and using social media as an important marketing method,” she said.
In January, it opened its new headquarters on Melrose Place in Los Angeles to focus on influencer marketing, “which has grown tenfold since we started this business in the U.S. For us we really want to be in the heart of what was happening in Los Angeles from an influencer standpoint,” said Natalie McGrath, vice president of marketing at Boohoo.
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