Boohoo considers selling Karen Millen and Debenhams

Published On Oct 18, 2024, 8:07 AM

Boohoo is considering selling its brands like Karen Millen and Debenhams as part of a major restructure due to underperformance. The company, which thrived during the pandemic, is now facing increased competition from brands like Shein and Temu. Analysts suggest that unloading these brands will help Boohoo concentrate on its younger demographic. Despite an expectation for recovery in sales, Boohoo reported a 15% decline in sales to £620 million for the last six months, alongside the departure of its CEO John Lyttle.