GCA Altium advises boohoo.com on the acquisition of PrettyLittleThing
Founded in 2012 as an accessories only website, PrettyLittleThing introduced a clothing range in 2013 and since then has grown into a forward-thinking female fashion brand, anticipating and creating trends, whilst ensuring its products are available for the customer to shop on its website before they are available anywhere else.
boohoo has enjoyed a buoyant 12 months, with the company’s most recent interim results highlighting 40% revenue growth and international sales of nearly £50 million. As at 1st December boohoo’s market capitalisation was more than £1.3 billion.
Peter Williams, Chairman of boohoo, commented: “PrettyLittleThing was always going to be a natural fit with boohoo. Umar and his team are to be congratulated for creating a fantastic brand, which complements boohoo’s own inclusive and innovative brand, and we are delighted to add this fast growing, international business to the Group. We believe this is an excellent opportunity to extend the Group’s overall customer appeal through two distinct, complementary brands while further enhancing the Group’s strong growth trajectory. We look forward to building on PrettyLittleThing’s success and we welcome Umar and his team to the Group.”
This is the latest in a series of major consumer transactions advised on by GCA Altium, which include advising the Singh Family Trusts on the £1.9 billion sale of New Look to Brait, the £303 million sale of Prezzo to TPG and the acquisition of European specialist beauty retailer Douglas by CVC. A team at GCA Altium, led by CEO Phil Adams, Director Paul Lines and Associate Jon Stead, provided strategic advice to boohoo on the transaction.
Phil Adams, CEO of GCA Altium, said: “GCA Altium are delighted to have advised boohoo on the PrettyLittleThing transaction. boohoo is a fantastic growth story and in PrettyLittleThing they are welcoming a superb brand to the Group.”