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Boohoo acquires Nasty Gal

Boohoo has confirmed it has bought the intellectual property rights and customer data bases for US etailer Nasty Gal for $20m (£16m).

The Manchester-based business was waiting on court approval for the acquisition, which has now been granted. The deal will complete on 28 February.

Mahmud Kamani and Carol Kane, joint CEOs of Boohoo, said: “[Nasty Gal] 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.”

Nasty Gal delivered net revenue of $77.1m (£62.7m) in the year to 1 February 2016. This included revenue from vintage clothing and third-party brands, which are excluded from the sale. The company made a net loss after tax of $21m (£17m) after operating costs.

In December Boohoo acquired 66% of young fashion brand PrettyLittleThing for £3.3m.

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