The Manchester-based group has raised £198 million for new M&A opportunities, in a private placing that’s left the company with around £500 million in cash.
The online fast-fashion group, which owns PrettyLittleThing and Nasty Gal, bought the online business and all associated intellectual property rights of the two brands after they went into administration.
This week, Schiaparelli names Bertrand Guyon’s successor, while a former Berluti executive is appointed to lead the North America division of Audemars Piguet.
The group, which targets 16-30-year-olds with its Boohoo, Nasty Gal and PrettyLittleThing brands, beat market expectations with a pre-tax profit of £76.3 million ($99 million).
To help soften the blow to physical stores as consumers shift to internet shopping, internet giants such as Amazon, Asos and Boohoo Group should pay higher UK taxes, according to a government report.
A new report from lawmakers proposes taxes on clothes and tougher regulation to force the industry to act more sustainably. Amazon and Boohoo, as well as luxury labels like Versace, are in Parliament’s sights.
This week, Bergdorf Goodman announces its new chief operating officer, while LVMH appoints Delphine Arnault to its executive committee.
The retail group's improvement has been led by popular brands PrettyLittleThing and Nasty Gal, each of which saw revenue growth of more than 70 percent.
Zara, H&M, Asos and other fast-fashion retailers now sell lipstick and eyeshadow alongside dresses and blazers. But they’re finding “fast and cheap” is a tougher sell in the beauty market.
The e-commerce group's comments come after competitor ASOS cut its growth forecasts due to poor November trading.
Retailers from Nasty Gal to PrettyLittleThing have been ramping up their participation in the holiday, crafting campaigns that show younger shoppers how to style fashion items into costumes.
The British online retailer reported a 22 percent increase in first-half profit, underlining its position as one of the winners in a brutal clothing market.