The acquisition of US womenswear retailer Nasty Gal has been finalised, with Boohoo gaining legal permission to attain its intellectual property rights and customer databases.
The court has approved Boohoo’s request and the £16 million takeover is now on track for completion by February 28, following its initial announcement in December.
“We are delighted to have been successful in our bid to acquire Nasty Gal,” Boohoo‘s joint chief executives Mahmud Kamani and Carol Kane said.
“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 comes just months after Boohoo acquired a 66 per cent stake in PrettyLittleThing in a £3.3 million deal.
Boohoo continues to grow at a staggering rate, reporting a 55 per cent overall sales increase in the four months to December 31, driven by a 230 per cent US sales boost and a further 31 per cent increase in the UK.