Andy Brian reacts to Boohoo’s acquisition of Debenhams brand
Tuesday 26th January 2021
Andy said: “Boohoo’s reported acquisition of the Debenhams brand and the news that ASOS appears to be a leading contender for Topshop bears out what I said last year – that brand acquisition by online retailers was always going to be the most likely outcome for many of the struggling high street fashion retailers.
“For too long the likes of Arcadia and Debenhams have been waiting for their customer to come to them, while other players such as ASOS, Boohoo and Missguided have followed the customer where they want to go. The trend towards online shopping started years ago but it has accelerated in the last 12 months due to the pandemic.
“Ultimately, the cost of significant investment in updating back end systems and processes to drive efficiency and profitability was always going to be a barrier to keeping stores running. It’s sad news for store workers, and for those shoppers who (in normal times) prefer that option, but the harsh reality is that both businesses simply haven’t been able to attract as many of the latter as they needed.”
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