Skip to content
Search

Latest Stories

Kamani’s fashion firm buys Karen Millen and Coast's online operations for £18.2m

INDIAN origin Mahmud Kamani led Boohoo has acquired the online business and all intellectual property rights of Karen Millen and Coast in an £18.2 million deal.

The latest move by the British online fashion retailer raises fears for hundreds of jobs in the UK’s two women's clothing retailers.


The manchester-based fashion retailer said it would retain all 125 staff who work in the online operations.

The two British fashion retail brands were put up for sale by owner, Kaupthing. The pre-pack administration allows the purchaser to cherry-pick parts of a business.

Business services firm Deloitte is handling the sale process. It said: "Karen Millen and Coast will continue to trade in store for a short time whilst the administrators realise the other assets of the companies.

Amid turbulent retail market situation in the UK, akin to many high street retailers, Karen Millen has suffered from weaker consumer confidence, higher stocks, cost inflation, decreasing footfall, and complex global operation in a competitive market condition.

The Karen Millen holding company recorded a loss of £5.7m in 2018, after losing £11.9m during the previous financial year.

Karen Mille functions in 65 countries and employs 1,700 staff globally. The brand has 57 stores in the UK, with concessions at John Lewis and Selfridges.

Acquiring the online operations of the two businesses "would represent highly complementary additions", said Boohoo commenting on its acquisition.

Chief executive, John Lyttle was quoted by Sky: "The acquisition of the online business of two great and renowned British brands in Karen Millen and Coast represents another milestone in the group's growth story as it continues to invest in its scalable multi-brand platform and gain further share in the global fashion e-commerce market."

Boohoo is the booming online fashion retailer when other fashion retailers were struggling to survive amid tough market conditions in the UK.

In June, Boohoo recorded a 39 per cent rise in sales during the quarter ended in May.

Manchester-based Boohoo’s market value was £2.7 billion on Monday (5).

More For You

‘All options on the table’ as Britain
prepares for likelihood of US tariffs

Sir Keir Starmer with Jonathan Reynolds

‘All options on the table’ as Britain prepares for likelihood of US tariffs

BRITAIN is likely to be hit by US tariffs despite making “rapid progress” over a trade deal with Washington, prime minister Sir Keir Starmer said on Tuesday (1).

He spoke as US trading partners around the world braced for an expected fresh raft of tariffs from president Donald Trump, in addition to levies already imposed on steel and those set to take effect this week on cars.

Keep ReadingShow less
single-use vapes-iStock

Analysis by Material Focus estimates that 8.2 million vapes are discarded or littered each week in the UK—equivalent to 13 every second. (Representational image: iStock)

iStock

Shops told to clear single-use vapes before ban starts on June 1

SHOPS across the UK have until 1 June 2025 to sell off remaining stocks of single-use vapes before a nationwide ban comes into force.

The legislation, confirmed last year, follows a government consultation that showed strong support for restricting their sale and supply.

Keep ReadingShow less
Primark-London-Getty

During his 15-year tenure, Marchant expanded Primark’s store network to more than 450 locations across 17 countries in Europe and the United States. (Photo: Reuters)

Primark chief Paul Marchant steps down after misconduct probe

PAUL MARCHANT, the head of fashion retailer Primark, has resigned with immediate effect after admitting to an "error of judgment" in his behaviour towards a woman in a social setting.

Associated British Foods (AB Foods), Primark's parent company, announced his resignation on Monday.

Keep ReadingShow less
Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less