Boohoo acquires online fashion retailer MissPap
Written by Hannah McGrath
E-commerce fashion platform Boohoo has acquired online fashion brand MissPap for an undisclosed sum.
The deal gives Boohoo rights to the pureplay retailer’s brand and intellectual property rights. It has grown a young customer bases through a strong social media profile, underpinned by one million Instagram followers.
The deal comes two weeks after John Lyttle, former chief operating officer at Primark, started in the post of chief executive at Boohoo, and is part of plans to expand the Boohoo brand’s presence in international markets.
Announcing the takeover, Lyttle said: “MissPap is a brand with great potential which can leverage the group's expertise.
“This acquisition further strengthens our multi brand platform, representing an exciting opportunity to accelerate our offering to our ever-growing range of customers globally.”
In January Boohoo raised its full-year revenue outlook following a 44 per cent year-on-year increase in sales during the final four months of 2018.
A trading update revealed that total group revenue across all regions rose from £228.2 million to £328.2 million during the period ending 31 December.