The British fast fashion juggernaut’s ambitions to build an empire that could compete with the giants behind Zara and H&M was gaining ground this year. But allegations of poor working conditions in its factories have raised questions about its future.
The online fast-fashion retailer, which has seen strong performance in France and the US, surprised analysts with multi-brand sales growth in the challenging UK market.
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).
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 community-driven brand has secured $15 million in a Series A financing round and aims to double its business next year by 2020.