E-tailer Boohoo has raised almost £200 million in extra funding for acquiring new brands. Recently it raised £197.7 million in just 24 hours via a share placing, and that’s on top of the £240 million+ in net cash it had at the end of February.
The cash will used to acquire new brands to add to its existing portfolio of Boohoo, PrettyLittleThing, Nasty Gal, MissPap, Karen Millen and Coast. The company aims to take advantage of numerous opportunities that are likely to emerge in the global fashion industry over the coming months and is looking at a number of possible merger and acquisition deals.
Boohoo is focusing on deals in Europe and the US. However, currently it doesn't want to move out of its online comfort zone. The company is unlikely to continue to operate any physical shops if it bought them.
