Thursday, February 25, 2021

boohoo snaps up Debenhams IP for £55m

boohoo, the online fashion retailer, has acquired all of the intellectual property assets (including customer data and related business information and selected contracts) of Debenhams from its joint administrators, for £55 million in cash.

The group will only be acquiring the brands and associated intellectual property rights. Thus the transaction does not include Debenhams’ retail stores, stock or any financial services.

Debenhams is in the process of closing down, with administrators unable to secure a rescue deal.

boohoo has said it intends to rebuild and relaunch the Debenhams platform, helping further an ambition to lead the fashion eCommerce market, and grow into new categories including beauty, sport and homeware.

It is planning to do this by creating the UK’s largest marketplace across fashion, beauty, sport and homeware, and expanding the range of products sold via the Debenhams marketplace.

John Lyttle, CEO, said: “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. We have developed a successful multi-brand direct-to-consumer platform that continues to disrupt the markets that we operate in.

“The acquisition represents an exciting strategic opportunity to transform our target addressable market through the creation of an online marketplace that leverages Debenhams’ high brand awareness and traffic through the development of beauty and fashion partnerships connecting brands with consumers.”

Mahmud Kamani, Executive Chairman, said: “This is a transformational deal for the Group, which allows us to capture the fantastic opportunity as eCommerce continues to grow. Our ambition is to create the UK’s largest marketplace.

“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.”

Debenhams is expected to relaunch on the boohoo platform in Q1 FY22.

In order to allow for the winding down of Debenhams’ operations, Debenhams will continue to operate its website for an agreed period before the relaunch on the boohoo platform and a licence has been granted to allow for the winding down of Debenhams’ retail stores (when they are in a position to re-open) for an additional period.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.




Latest news

Works commence on £6.4m warehouse at Wakefield Hub

Regional contractor G F Tomlinson has commenced works on a new 65,000 sq. ft. warehouse at Wakefield Hub for Newmarket Lane Ltd, a joint...

Work begins on Huddersfield Blueprint project

A major Blueprint project will begin next week, as demolition work starts at Huddersfield’s Market Car Park. In order to carry out the works one...

Online courses explore storage, discharge and handling of bulk materials

The issues surrounding the safe handling and storage of bulk materials is examined during 2 on-line short courses; one looking at the difficulties encountered...

Development agreement signed for Sheffield Olympic Legacy Park masterplans

A development agreement has been signed for the 850,000 sq ft masterplan at Sheffield Olympic Legacy Park. A development agreement between Sheffield City Council and...

Brexit challenges threaten to slow Yorkshire & the Humber’s manufacturing comeback

Brexit issues are causing SME manufacturers in Yorkshire & the Humber significant disruption as they look to recover from the economic effects of COVID-19. The...

Event to explore low carbon investment in the Humber

Business leaders are being urged to join a high-profile event aimed at helping secure billions of pounds of investment to make the Humber a...

Related news

Works commence on £6.4m warehouse at Wakefield Hub

Regional contractor G F Tomlinson has commenced works on a new 65,000 sq. ft. warehouse at Wakefield Hub for Newmarket Lane Ltd, a joint...

Work begins on Huddersfield Blueprint project

A major Blueprint project will begin next week, as demolition work starts at Huddersfield’s Market Car Park. In order to carry out the works one...

Online courses explore storage, discharge and handling of bulk materials

The issues surrounding the safe handling and storage of bulk materials is examined during 2 on-line short courses; one looking at the difficulties encountered...

Development agreement signed for Sheffield Olympic Legacy Park masterplans

A development agreement has been signed for the 850,000 sq ft masterplan at Sheffield Olympic Legacy Park. A development agreement between Sheffield City Council and...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close