Boohoo announced a 41 percent rise in annual revenues to £1.7billion on Wednesday
Boohoo, it seems, is unstoppable. The faster-than-fast fashion retailer announced a 41 percent rise in annual revenues to £1.7billion on Wednesday. It’s an extraordinary figure, especially in the wake of a pandemic that has caused so many high street fashion chains to crash into administration (the Boohoo Group went on to acquire several of these heritage British brands, including Warehouse, Debenhams and Karen Millen).
The company attributes its success to sales of athleisure - comfy clothes that are worn as much for relaxing at home as they are for sports. This more than compensated for the fall in demand for occasionwear, they said, when national lockdowns came into effect.