Boohoo buying Debenhams: a changing of the guard in retail
Deal by 15-year-old online upstart shows how Covid crisis has further shifted sales away from high street
The symbolism is stark: a venerable 243-year-old department store chain acquired by a 15-year-old online upstart. Debenhams will disappear from British high streets after its sale to Boohoo, swallowed by a company that thrives in the world of fast fashion and has become mired in controversy in the process.
Boohoo has drawn criticism for poor working conditions in its supply chain but continues to make strong sales growth as it feeds a voracious consumer appetite for affordable fashion that responds quickly to shifts in taste and style.
Related: Asos in talks to buy Topshop, Topman and Miss Selfridge
Debenhams’ online business takes £400m a year from 300 million visitors
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