Asos competitor Boohoo mulls sale
The Manchester-based company has seen strong growth since it was founded seven years ago
The online clothing retailer Boohoo is considering a sale of the business, following strong growth since it was founded seven years ago.
Boohoo has hired the private equity and advisory firm Zeus Capital to explore its strategic options, including a possible sale.
The Manchester-based company competes with the internet clothing giant Asos, although the latter’s revenues currently dwarf those of Boohoo.
Zeus Capital’s advisory arm is understood to have already sounded out potential investors about their interest in acquiring Boohoo or buying a minority stake in the business.
Boohoo grew its pre-tax profits by 79 per cent to £248,790 over the year to 29 February 2012, according to its latest accounts, on sales up strongly to £29m.
The retailer is currently advertising heavily on London’s Underground and is thought to have grown its bottom line strongly for the financial year just ended.
Boohoo’s chief executive Mahmud Kamani set up the business with co-chief executive Carol Kane in 2006, and the online specialist employs about 500 people.
Sources have indicated that Zeus Capital’s private equity arm is also an investor in Boohoo but this could not be verified. Both companies declined to comment.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 3 Number of young homeless people in Britain is 'more than three times the official figures'
- 4 Motorists taunt suicidal woman on bridge and tell her to 'get on with it'
- 5 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
Isis propaganda video shows 25 Syrian soldiers executed by teenage militants in Palmyra
Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
Number of young homeless people in Britain is 'more than three times the official figures'
The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...