Boohoo’s surprise acquisition of Karen Millen and Coast has left some people scratching their heads about what the online fast-fashion specialist expects to gain from the move.
In a frenzied acquisition marketplace, beleaguered Karen Millen and Coast have been snapped up by Boohoo. However, Boohoo is only taking on their online businesses and IP rights as part of a pre-pack administration deal.
The acquisition casts doubt over the jobs of 1,100 Karen Millen and Coast employees and will likely mean the closure of the two brands’ 30 stores and 175 concessions.
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