Boohoo makes move for 'struggling' brands Karen Millen and Coast

Fashion retailer Boohoo has confirmed it has made an offer to acquire the online businesses of brands Karen Millen and Coast.

The deal would see both brands along with all associated intellectual property rights come under the Boohoo brand.

The news follows media speculation that Boohoo was seeking to acquire the struggling brands following their entry into an insolvency process known as a pre-pack administration.

In a statement this morning Boohoo commented: “The group believes that the online business of these brands would represent highly complementary additions to its scalable multi-brand platform and extend the group’s offer as part of its vision to lead the fashion e-commerce market globally.”

It added that “these discussions may or may not result in agreement of a transaction”, with further announcements expected in due course.