Last checked at 9 Feb 2017 07:00
For immediate release | 9 February 2017 |
Acquisition of Nasty Gal
boohoo.com plc
Further to the announcement on 6 February 2017, boohoo.com plc ("the Group") confirms that court approval has been obtained for the Group to acquire certain intellectual property assets and customer databases from retailer Nasty Gal Inc. for US$20 million. The transaction, subject to the satisfaction of customary closing conditions waivable at the Group's discretion, is expected to complete on 28 February 2017.
Mahmud Kamani and Carol Kane, joint CEOs, commented:
"We are delighted to have been successful in our bid to acquire Nasty Gal. It represents an exciting opportunity to accelerate our international offering and inspire an ever-growing range of young customers in the US and around the world."
Enquiries
boohoo.com plc Neil Catto, Chief Financial Officer Clara Melia, Investor Relations |
Tel: +44 (0)161 233 2050 Tel: +44 (0)7748 171236
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Zeus Capital - Nominated adviser and joint broker Nick Cowles/Andrew Jones (Corporate Finance) John Goold/Benjamin Robertson (Corporate Broking) |
Tel: +44 (0)161 831 1512 Tel: +44 (0)20 3829 5000 |
Jefferies Hoare Govett - Joint Broker Nick Adams/Max Jones |
Tel: +44 (0)20 7029 8000
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Buchanan - Financial PR adviser Richard Oldworth/Madeleine Seacombe/Jane Glover |
Tel: +44 (0)20 7466 5000 boohoo@buchanan.uk.com
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About boohoo.com
"The voice and style of the social generation"
Keeping one step ahead of the trends or making a subtle style change is easy with boohoo.com and with up to 100 new pieces hitting the site every day and a new collection each week, boohoo.com never stops - it is 24/7 fashion at its best. From the UK's best kept fashion secret to one of the fastest growing international retailers, boohoo.com has quickly evolved into a global fashion leader of its generation. Combining cutting-edge, aspirational design with an affordable price tag, boohoo.com has been pushing boundaries since 2006 to bring its customers all the latest looks for less.
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About Nasty Gal
Nasty Gal was founded in 2006 and is based in Los Angeles. Nasty Gal today is recognised as a pioneer in both the curation and design of women's clothing, shoes, and accessories. The Company has a global presence in 180 countries and a social media following of over 3.5 million. For more information, visit the website at www.nastygal.com.
This announcement has been determined to contain inside information.