UK-based online fashion retailer, boohoo Group has confirmed the acquisition of the brand and intellectual property assets of women’s pureplay fashion brand MissPap with a strong visual identity.
Commenting on the acquisition, John Lyttle, CEO of boohoo group plc, said, “MissPap is a brand with great potential which can leverage the Group’s expertise. This acquisition further strengthens our multi-brand platform, representing an exciting opportunity to accelerate our offering to our ever-growing range of customers globally.”
Sofie Willmott, Senior Retail Analyst at GlobalData, a leading data and analytics company, offers her view on the chains current challenges:
“The boohoo Group’s acquisition of Misspap will give the retailer another vehicle to drive rapid growth, as it has done with PrettyLittleThing, with its younger brand set to leapfrog boohoo.com in terms of market share in the UK in 2019, bolstering the group as its more established fascia growth slows. However, clear differentiation is essential to ensure all of the group’s brands have a place in the highly competitive young fashion market,” observed Sofie Willmott, senior retail analyst at data and analytics company GlobalData.
“Given the troubles at clothing players like New Look and Arcadia brands including Topshop and Miss Selfridge which are struggling to convince consumers to buy, it is vital that young fashion brands offer shoppers a unique proposition in order to appeal. Both boohoo.com and PrettyLittleThing have carved out a strong reputation for striking, going-out clothing so there is an opportunity for Misspap to become the group’s destination for casualwear, stealing share from young fashion specialists that are failing to entice shoppers,” she added.