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Fast fashion retailers Boohoo and Missguided have both had recent adverts banned by the Advertising Standards Agency (ASA), following complaints over their impact on young shoppers and depiction of women.
Boohoo Group plans to keep a London-based product team for Karen Millen and Coast to “retain the [brands’] DNA”, Boohoo co-founder and executive director Carol Kane told Drapers following a bumper set of half-year results.
Boohoo Group’s revenue jumped 43% year on year to £564.9m in the six months to 31 August, meaning its revenue for the last year has exceeded £1bn for the first time ever.
Karen Millen and Coast suppliers are facing further losses after Boohoo offered to buy just a fraction of stock already produced for the brands’ relaunch in October.
It was a sad moment walking past the closing Karen Millen store on the corner of Regent Street and Princes Street in central London last week.