UK online fast fashion retailer Boohoo Group has inked a deal to buy the Debenhams brand for GBP55m (US$75.2m) in a move aimed at furthering its ambition to create the UK's largest marketplace and grow into new categories including beauty, sport, and homeware.>
UK online fast fashion retailer Boohoo Group is set to acquire the global rights to the Debenhams brands and its websites in a GBP55m (US$75.2m) deal as it steps closer to achieving its goal of creating the UK's largest marketplace. The move will help it grow into new categories including beauty, sport, and homeware and raises the question of the relevance of traditional department stores in a post-pandemic environment. >