Boohoo news and archive

Frasers Group further increases stake in Boohoo

Fashion retail giant Frasers Group has once again upped its stake in rival conglomerate Boohoo Group, taking its share in the company from 16.5 percent to 17.2 percent. Mike Ashley’s retail empire had first snapped up a stake in Boohoo during June 2023, and has since continued to up its holding on the group over the course of the year. At the...

BusinessFeatured

New investigation claims Boohoo breaks past promises of fair production

A new undercover investigation into Boohoo’s production practices has found evidence that the fashion giant is breaking its previous promises of fair and ethically-produced clothing, despite having claimed to have carried out an overhaul of its operations. The fast fashion conglomerate became the subject of a BBC Panorama investigation, during...

Business

Frasers Group ups stake in Boohoo to 13.4 percent

Just over a month on from when it last increased its holding in the company, Frasers Group has once again upped its stake in fast fashion giant Boohoo Group, taking its share in the company from 10 percent to 13.4 percent. The British retail giant first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake in...

Retail

Boohoo signs up to Pakistan Accord

Giant fast fashion retailers, despite the controversies surrounding their production practices in distant regions, maintain a vested interest in these areas. Boohoo this week garnered attention for joining the Pakistan Accord, a factory safety initiative initiated by the International Accord for Health and Safety in the Textile and Garment...

BusinessFeatured

Boohoo projects FY24 revenues to decline between 12 to 17 percent

For the six months to August 31, 2023, Boohoo Group revenue of 729.1 million pounds, declined 17 percent versus last year, with UK down 19 percent and international down 15 percent. Revenues in core brands declined 10 percent. Gross margin at 53.4 percent, was up 90 bps, adjusted EBITDA was 31.3 million pounds with adjusted EBITDA margin of 4.3...

Business

Frasers Group takes its Boohoo stake to 10 percent

Just hours after once again increasing its holding on Boohoo, Frasers Group has continued to up its stake in the fast fashion group, taking its shares of the company to 10 percent. The British retail giant had first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake in electrical giant Currys as part of its...

Business

Frasers Group once again ups stake in Boohoo Group

Continuing on in the path to secure larger stakes in its rivals, Frasers Group has once again upped its stake in fast fashion conglomerate Boohoo Group. In its most recent increase, Frasers has taken its shares from 7.8 percent to 9.1 percent. Frasers first snapped up a stake in Boohoo during June 2023, when it had also secured a 9 percent stake...

Business

Boohoo Group taps HSBC Bank as joint corporate broker

Boohoo Group has appointed HSBC Bank as joint corporate broker alongside Zeus Capital and Jefferies International Limited, with immediate effect. The British fashion group announced the news in a brief statement on Monday. A corporate broker is a firm that provides advisory services to companies regarding market conditions and facilitates the...

Business

PrettyLittleThing co-founder buys 3 percent stake in Boohoo

Umar Kamani, the co-founder and former CEO of fast fashion brand PrettyLittleThing, has bought a 3 percent stake in Boohoo Group. PrettyLittleThing was acquired by Boohoo in 2020, and Kamani is the son of Boohoo co-founder Mahmud. The stake acquisition comes after Boohoo’s share price dropped in recent months amid a feud with Revolution Beauty,...

Business

Frasers Group ups stake in Boohoo, again

Just days after its last boost, Frasers Group has once again upped its stake in fast fashion conglomerate Boohoo, increasing its holding from 6.78 percent to just over 7.8 percent. Frasers first snapped up a stake in the Manchester-headquartered company in mid-June, securing a 5 percent holding that made it one of the group’s major shareholders....

Business

Frasers Group increases stake in Boohoo

Frasers Group has upped its holding of shares in Boohoo a month after snapping up an initial stake in the fast fashion giant. In an announcement to the stock market Wednesday, Frasers Group said it increased its stake in the rival group to 6.78 percent, up from the 5 percent it snapped up in June. Boohoo has seen its share price fall sharply in...

Business

Boohoo once again ups stake in Revolution Beauty

Following the settlement of an ongoing rift between the duo, fashion group Boohoo has once again upped its stake in British cosmetics firm Revolution Beauty. Boohoo, which was already a majority shareholder in the beauty label, has now increased its holding from 26.5 percent to just over 27.1 percent. The group first snapped up a stake in...