Karen Millen is a premium British fashion retailer selling womenswear. Founded by Millen and partner Kevin Stanford in 1981, the retailer initially sold white shirts. Since then, its product range has developed, but the brand is particularly known for its tailoring, coats and eveningwear. In 2018, it bought sister brand Coast out of administration. Less than a year later, both brands tumbled into administration and were bought in a shock deal by Boohoo. Since the acquisition, all Karen Millen stores and concessions have been closed, including those abroad. The two brands were relaunched as online only as of September 2019. Karen Millen’s older target demographic and premium clothing contrasts with fast-fashion retailer Boohoo’s typical customer. Boohoo is working to maintain the target audience and brand handwriting, while upping the SKU count to create a NastyGal-style success. The acquisition will act to ensure the Boohoo Group retains customers later in life.
Boohoo founder Carol Kane has told Retail Week the fashion group plans to roll out a resale platform for each of its brands.
Asos and Boohoo – two fast fashion etail giants who have stormed through the pandemic, picking up struggling competitors as they go. But, in five years’ time, who will be the bigger powerhouse?
Karen Millen has been acquired by Boohoo, along with sister brand Coast, as part of the ecommerce giant’s push to expand its customer base and lead the online fashion market. The £18.2m pre-pack deal, in August 2019, was for the IP and online operations only.
After a stellar year in which the fast fashion etailer reported over £1.7bn in sales, and acquired six well-known brands, Boohoo has unveiled plans to keep its momentum going.
Fashion etailer Boohoo has acquired office premises in central London that will provide a base for 600 people.
Advertisement
