Boohoo snaps up remaining Arcadia brands

Boohoo, the British online fashion retailer, has bagged the remaining fashion brands of the collapsed Arcadia Group. The negotiations were underway for some time.

Also Read: After buying Debenhams, Boohoo now plans to acquire Arcadia brands

The fashion e-tailer has, reportedly, has acquired Burton and Wallis as well as Dorothy Perkins for a little over £25 million.

What’s worrying, however, is that Boohoo is buying only the brands and not the stores and that would mean shutting down of over 200 stores – causing more job redundancies. Sadly, that’s been the story for over a year now.

Boohoo, as reported in Bloomberg, also agreed to pay another £8 million for apparel stock.

Earlier this month, Asos had acquired Arcadia Group’s Topshop and other brands for £295 million and now with Boohoo buying the remaining brands of the Group, it distinctly brings out the emerging dominance of fashion e-tailers in last one year.

Also Read: Finally it happens! Asos buys Topshop for £295 million

The purchase of Arcadia brands is expected to enhance Boohoo’s market share in addition to increasing its already large base of customers.

2021 has indeed begun in a big way for Boohoo – first it was the acquisition of Debenhams in January and now Arcadia brands in February.

Let’s wait and watch what’s next from Boohoo!