Debenhams brings ‘greater value than entire group’, says Boohoo boss

In a video posted on the boohooforall website as well as on LinkedIn, Finley pledged his confidence in the Boohoo Group, despite the ongoing public spat with Frasers Group.

He called the size of the opportunity at the group “huge” moving forward and promised the group will “get back to our best”.

Speaking about Debenhams, Finley said: “I’m on record as saying today I believe Debenhams alone with the progress that we’ve made and the opportunities that lie ahead has a greater value than the entire market cap of our group today.

“I am fully focused on leading this business and determined to deliver value for all our shareholders.”

With an eye to the other Boohoo brands, Finley said: “The size of the opportunity [at Boohoo] is huge. We’ve made really good progress with Karen Millen, an amazing brand transforming it into digital first, premium global brand. It has significant international licensing and franchising opportunities ahead.”

He also called the youth brands, including Boohoo, BoohooMan and PrettyLittleThing, “incredible” and said he is looking forward to the relaunch of Nasty Gal int he US as a “fashion-led consumer marketplace”.

Referencing the ongoing challenges at Boohoo, including its financial woes and ongoing public clash with Frasers Group, he added: “There was a lot of noise in the press, an attempted disruption of our business. Let me be clear, I’m fully focused on leading this business and determined to deliver value for all our shareholders”.

This comes as Boohoo wrote a letter to shareholders earlier this week urging them to consider the “true motivation” behind Frasers’ behaviour as they prepare to vote for Mike Ashley’s resolutions at a general meeting later this month.

The Institutional Shareholder Services (ISS) has “recommended that Boohoo shareholders vote against the resolutions” as a result of Frasers offering a “superficial view of performance” and having “no specific plans for change” at the business.