A BIG BOOSTER FOR BOOHOO
FAST-fashion online retailer Boohoo raised its annual sales forecast as it reaped the benefit of its takeovers of smaller rival PrettyLittleThing (PLT) and US brand Nasty Gal.
Boohoo, whose speedy delivery options and use of social media help it respond quickly to changing fashion trends, doubled revenues to £228.2million in the four months to December 31. It is now targeting 90 per cent annual growth. PLT was the star performer as revenue soared 191 per cent to £73.8˜million while Nasty Gal made “excellent progress” in its first year.
Joint CEOs Mahmud Kamani and Carol Kane said: “Our focus remains on offering the best range of the latest fashion at affordable prices.”