Boohoo, a fashion e-commerce startup based in Manchester, has acquired American fashion retailer Nasty Gal for $20m.
Founded in 2006, Boohoo is a global fashion retailer for womenswear and menswear.
The deal will see Boohoo acquire certain intellectual property assets and customer databases from LA-based Nasty Gal, and it is hoped the acquisition will help the company to expand its offering overseas.
Mahmud Kamani and Caroline Kane, joint CEOs of Boohoo, commented: “We are delighted to have been successful in our bid to acquire Nasty Gal. It represents an exciting opportunity to accelerate our international offering and inspire an ever-growing range of young customers in the US and around the world.”
This news follows Boohoo’s latest acquisition of PrettyLittleThing.com, an online women’s fashion firm, back in December 2016.
Boohoo’s transaction is subject to the satisfaction of customary closing conditions, and it expected the complete on 28th February 2017.
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