Behind Boohoo Group’s ‘transformational’ Debenhams deal
Will the Debenhams brand name and beauty market share help Boohoo Group achieve its ambition of becoming the “UK’s largest marketplace”?
Earlier today it was announced that Boohoo Group has bought Debenhams' brand and website for £55m, in a deal that does not include its 124 stores, financial services or stock. All 12,000 Debenhams staff will be made redundant.
The Debenhams website will relaunch on Boohoo Group's platform in early spring. To allow for a winding-down of Debenhams' operations, its website will continue to operate for an agreed period before the relaunch.
Boohoo Group said it intends to rebuild and relaunch the Debenhams website to grow into new categories, and create “the UK's largest marketplace” across fashion, beauty, sport and homeware, where it will add new brands over time. The etailer said Debenhams’ own fashion brands, including Maine, Mantaray and Principles, will be absorbed into the group’s existing brand portfolio, and sold via the core Debenhams site and its own pureplay websites.