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Boohoo plc completes 66% acquisition of Pretty Little Thing
06
Jan '17
UK online fashion retailer Boohoo plc has completed acquisition of a 66 per cent stake in fast fashion online brand Pretty Little Thing (PLT) for a cash consideration of £3.3 million and the consolidation was completed on January 3, 2017. Pretty Little Thing is a fast growing and international online retail brand, which complements boohoo's own brand.

The transaction was on a cash free debt free basis and therefore the final consideration payable remains subject to the agreement of completion of Pretty Little Thing's accounts.

In the next fiscal, Boohoo plans to review and invest in PLT’s operations, including its warehousing, to ensure the brand is well positioned for the future. (AR)

Fibre2Fashion News Desk – India


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