Boohoo bids for Karen Millen, Coast online business

Manchester-based online fashion giant Boohoo Group plc confirmed on Tuesday it has made an offer to acquire the online business of Karen Millen and Coast.

Boohoo Group shares rose about 4% to give the firm a current stock market value of around £2.67 billion.

“The group believes that the online business of these brands would represent highly complementary additions to its scalable multi-brand platform and extend the group’s offer as part of its vision to lead the fashion e-commerce market globally,” said Boohoo Group in a stock exchange statement.

“These discussions may or may not result in agreement of a transaction.

“A further announcement will be made when appropriate.”

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.