Boohoo news and archive

Frasers Group considers all cash bid for Revolution Beauty

Frasers Group has made a bid for British cosmetics brand Revolution Beauty. With this, Sports Direct’s parent company has joined “a number of parties conducting due diligence as part of the formal sale process”, the brand announced in a regulatory filing. Frasers confirmed its participation in its own filing, where it stated that it is...

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Debenhams mulls 125 million pound refinancing under new management

Debenhams Group, formerly Boohoo Group, has said it is considering the refinancing of a 125 million pound revolving credit facility as it continues to embark on a transformation under a new management team. A spokesperson for the fashion group told FashionUnited: “Having become Debenhams Group, we are currently at the early stages of evaluating...

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Boohoo to go forward with Debenhams rebrand despite Frasers backlash

Boohoo Group and its majority shareholder, Frasers Group, are clashing once again. Upon Boohoo revealing plans to rebrand the company to Debenhams Group, the fast fashion giant initiated a general meeting calling on shareholders to vote for or against the proposal. It was here that Frasers, the parent company of Sports Direct and the owner of...

Retail

Boohoo rebrands as Debenhams Group, but will it solve its problems?

Boohoo Group's decision to rebrand as Debenhams Group marks a strategic pivot aimed at revitalising its market position amid declining sales and heightened competition. The rebranding seeks to leverage the established Debenhams brand, which Boohoo acquired in 2021, transitioning it into an online department store. However, this move raises...

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Debenhams names Asos veteran as business development lead

Boohoo-owned Debenhams has tapped Jo Hunt as its new business development lead. She joins the company from e-tailer Asos, where she has served in various roles of increasing responsibility over the course of 18 years. Hunt had first entered Asos in 2006 as a buyer for women’s brands, before later becoming head of Asos Marketplace, a B2C platform...

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Designer accuses Boohoo brands of infringing bikini design

Sonia Edwards, a Wales-based fashion designer, has sued Boohoo Group over allegations that the company and a number of its brands have infringed on her signature bikini design. Edwards is presenting her case at London’s High Court, according to The Times, in an attempt to prevent Boohoo from selling items she claims are copies of the piece....

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PrettyLittleThing reportedly cuts jobs at Manchester HQ

Boohoo-owned PrettyLittleThing (PLT) is believed to be in the process of carrying out a string of redundancies, with over 50 employees reportedly impacted. According to Drapers, the process is in regards to staff members at the company’s Manchester head office, who the media outlet said had already been informed of the layoffs during a video...

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Frasers accuses Boohoo of making undisclosed payments to founder’s son

On January 21, Frasers Group’s final resolution for Boohoo shareholders was ultimately turned down, meaning the fast fashion conglomerate’s founder, Mahmud Kamani, was to retain his place as director. While this seemingly brought an end to another chapter in the duo’s leadership battle, it appears yet another twist in the story is only just...

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Boohoo shareholders vote against Frasers' proposal to remove co-founder

The shareholders of Boohoo Group have voted against a proposal to remove co-founder, Mahmud Kamani, as a director of the fast fashion company. A total of 63.17 percent voted against the resolution, as opposed to 36.83 percent voting for it. The proposal had been brought forth by Frasers Group, a majority shareholder in Boohoo, which had called...

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Proxy advisor backs Boohoo’s call to vote against Frasers’ resolutions

Boohoo has stated that an independent proxy adviser has backed its position for shareholders to vote against a resolution brought forth by Frasers Group, which is seeking the removal of Mahmud Kamani as a director. In making its recommendation, Glass Lewis is believed to have recognised the initiation of “significant actions” by Boohoo in recent...

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Boohoo calls on shareholders to vote against founder’s board removal

Boohoo has once again called on shareholders to vote against a resolution to be brought forth in an upcoming general meeting requisitioned by Frasers Group. Set to take place 21 January 2025, the meeting will require shareholders to vote on whether or not to remove Boohoo founder Mahmud Kamani as a director of the business. In a new letter...

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Unwrapping in 2025 - Leadership overhauls beckon fresh beginnings: The turnaround strategies of new CEOs

2024 seemed to take shape as a period of transition for many of the industry’s biggest players as they looked to swiftly, yet effectively, turn around lacklustre financials and return to growth, profitability or both. To lead such strategies, many took to overhauling their leadership teams, naming new CEOs in the process who have come in guns...