Home / Knowledge / News / Apparel/Garments / Boohoo acquiring 66% stake in Pretty Little Thing
Boohoo acquiring 66% stake in Pretty Little Thing
16
Dec '16
Courtesy: Boohoo
Courtesy: Boohoo
UK online fashion retailer Boohoo plc is acquiring a 66 per cent stake in fast fashion brand Pretty Little Thing (PLT) for a cash consideration of £3.3 million. PLT revenue soared by over 400 per cent year over year to £17.0 million in the fiscal ended February 29, 2016 and has already garnered revenue of £19.0 million in the six months to August 31, 2016.

According to Boohoo, PLT is expected to achieve revenue growth in excess of 150 per cent in fiscal ended February 28, 2017, while broadly achieving EBITDA breakeven.

In the next fiscal, the online fashion retailer plans to review and invest in PLT’s operations, including its warehousing, to ensure the brand is well positioned for the future.

The 34 per cent retained by the existing PLT management will be subject to the management team remaining with PLT over the five-year period to February 28, 2022, while also achieving demanding revenue and EBITDA targets. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Shutterstock

E-commerce | On 27th Oct 2020

Online shopping scams rise 37% during 2020 1st half in UK

Incidences of online shopping and auction fraud in the UK rose by 37...

Interviews View All

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Joachim Maier,

Joachim Maier

Switzerland-based Uster Technologies AG is the leading high technology...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search