Why Boohoo is buying Oasis and Warehouse for £5.25m

Online fashion group Boohoo forecast annual results to be ahead of market expectations after first-quarter revenue jumped 45 per cent, thanks to strong demand for its brands and apparel during coronavirus-led lockdowns.

By Ismail Mulla

Published 17th Jun 2020, 08:11 BST

Updated 17th Jun 2020, 08:14 BST

The company also said it was buying the online businesses of Oasis and Warehouse for £5.25m as it looks to snap-up struggling retail brands and build on its success that has bucked the wider retail gloom.

John Lyttle, CEO of Boohoo, said: "During unprecedented and challenging times, the group has delivered a very strong trading and operational performance.

"I am proud of how our colleagues and business partners from around the world have responded to ensure that we can safely bring to our customers the latest fashions, great value, fantastic prices and best in class service.

"Whilst there is a period of uncertainty within the markets in which we operate, the Group is well-positioned to continue making progress towards leading the fashion e-commerce market globally."

Boohoo