Boohoo acquires British brands Karen Millen & Coast
Boohoo completed an asset purchase agreement for renowned British brands Karen Millen and Coast. The brands were put up for sale by Icelandic bank, Kaupthing. Founded in Manchester in 2006, Boohoo is an inclusive and innovative brand targeting young, value-orientated customers. Boohoo has acquired the online business and all associated intellectual property rights from the administrators of Karen Millen Fashions and Karen Millen Retail, both of which entered into administration on August 6, 2019, for £18.2 million, funded by the group’s existing cash resources.
Boohoo Group PLC (LON:BOO) operates as an online fashion retailer in the United Kingdom, rest of Europe, the United States, and internationally. The company also provides its products under the boohoo, boohooMAN, PrettyLittleThing, Nasty Gal & Miss Pap brand names.
