While the coronavirus crisis is proving devastating for some fashion companies, others such as Boohoo are thriving and the online retail giant could see acquisition opportunities as some brands struggle to survive.
Boohoo has reported impressive full-year results and, perhaps more importantly, delivered a coronavirus update. The e-tail giant said that while it had taken a sales hit during March, sales in April have been rising.
The womenswear label by the Boohoo group is inspired by social media and keen on short-cycle, constantly upgraded collections. As its CEO told FashionNetwork.com, it now wants to make an international breakthrough.
Boohoo continued its rapid sales ascent in the four-month period to the end of December and while there was no information about sales at its newly-acquired brands, its existing portfolio went from strength to strength.
The founders of Boohoo have pocketed £142.5 million after selling a chunk of their shares to take advantage of the company's market gains over the last year. After the placing, they continue to own 15.8% of the business.
The Nasty Gal label has collaborated with model and actress Cara Delevingne for a collection that draws on her personal style as well as that of rock icons.It's yet another collaboration for Cara Delevingne.
Boohoo’s results statements are always a revelation, if only to see by just how big a margin the group is smashing the market, and its half-year report was no different. The latest six months were yet another triumph.