Nasty Gal, an American fashion retailer, is anticipating that BooHoo F I Ltd., an affiliate of boohoo.com plc, will become the new owner of the company’s trademarks and other intellectual property.
Sheree Waterson, CEO, Nasty Gal said, “I am enormously proud of the tremendous brand value we have built over the years at Nasty Gal, and deeply grateful for the enduring contributions made to the brand by so many of our passionate employees and vendor partners. I congratulate boohoo.com on their anticipated successful acquisition and am confident that Nasty Gal’s strong legacy will complement their business.”
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While the brand’s sales will continue under new ownership, the company will initiate a wind down of its business operations over the next 60 to 90 days. The fashion brand was once valued at US $ 200 million, but it’s selling to Boohoo for a mere US $ 20 million.
Nasty Gal filed for bankruptcy protection in November last year. The filing was followed up less than two weeks later with Boohoo’s registration of the business name Nasty Gal Ltd., fueling speculation of a purchase. That was later confirmed with the announcement of the company’s purchase offer for the IP in a move that will give Boohoo a significant toehold in the U.S. market as it seeks to grow its business internationally.
