Boohoo places bids for Karen Millen and Coast’s online businesses
The e-commerce fashion company, Boohoo, has announced its bids for the online business of Karen Millen and Coast.
The women’s fashion sister brands have been in advanced talks with Boohoo during the insolvency process, Sky News reported.
“The board confirms that it has made an offer to acquire the online business of renowned British brands Karen Millen and Coast, together with all associated intellectual property rights,” stated Boohoo.
“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.”
“These discussions may or may not result in agreement of a transaction. A further announcement will be made when appropriate.”
The Icelandic business Kaupthing Bank is the current owner of the brands, which it put up for sale in June, the BBC reported.
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