Boohoo Group has confirmed that it has made an offer for Karen Millen and Coast’s online business.
In a statement, the UK etailer said: ”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 ecommerce market globally.”
Karen Millen appointed consultancy firm Deloitte in June to consider options for the business, including a potential sale. The premium womenswear retailer put at least 100 head office roles into consultation after buying former sister brand Coast through a pre-pack administration in October last year.
Under a turnaround strategy led by chief executive Beth Butterwick, the retailer reduced its operating losses by 85% to £1.4m in the year to February 2018.
Karen Millen has been contacted for comment.