Online fashion retailer Boohoo has bought the Dorothy Perkins, Wallis and Burton brands from failed retail group Arcadia for £25.2m
The deal includes the brands and online businesses, but not the 214 shops nor 2,450 workers employed in them.
It completes the sell-off of Sir Philip Green’s once mighty Arcadia group which fell into administration last year.
Last week, rival Asos bought Arcadia’s other leading brands, Topshop, Topman, Miss Selfridge and HIIT.
Sir Philip Green’s Arcadia group fell into administration in November last year casting doubt over the future of its brands and 13,000 jobs.
Last month, Boohoo bought the Debenhams brand and website for £55m.
In all of these deals, the purchase did not involve taking on the shops or the staff that work in them.
Boohoo said the brands it had bought from Arcadia had two million active customers last year, and added that the deal would give it a significant opportunity to boost its share of the market across a broader group of customers.
It also said that buying Burton would improve its range of menswear.
“Acquiring these well-known brands in British fashion out of administration ensures their heritage is sustained, while our investment aims to transform them into brands that are fit for the current market environment,” said chief executive John Lyttle.
“We have a successful track record of integrating British heritage fashion brands onto our proven multi-brand platform, and we are looking forward to bringing these brands on board.”
Boohoo has bought a number of leading High Street names in the past two years, buying the online businesses of Oasis and Warehouse for £5.25m last year.
That added to its portfolio, which included the Karen Millen and Coast brands, which it bought from administrators in 2019.
Source: BBC Business