Boohoo confirms Nasty Gal acquisition
Manchester-based etailer, Boohoo, has confirmed this morning that it has acquired American fashion brand, Nasty Gal.
The $20m deal marks a major step into the American market for the brand.
"We are delighted to have been successful in our bid to acquire Nasty Gal. 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,” stated Mahmud Kamani and Carol Kane, joint CEOs.
Nasty Gal filed for Chapter 11 Bankruptcy Code protection in November. Founded in 2006, its owner, Sophia Amoruso raised $56m through venture capital and it gained cult status, with a best-selling book and a Netflix-inspired spin-off expected to air later this year.
Boohoo has acquired “certain intellectual property assets and customer databases” from Nasty Gal Inc.
The deal is expected to complete at the end of the month.