Nasty Gal Confirms Anticipated Acquisition by Boohoo.com
Boohoo.com has moved one step closer to acquiring LA fashion brand Nasty Gal.
The British fashion online retailer is expected to receive final approval on the purchase on February 8 from the U.S. Bankruptcy Court for the Central District of California, Nasty Gal has announced.
"I am enormously proud of the tremendous brand value we have built over the years at Nasty Gal, and deeply grateful for the enduring contributions made to the brand by so many of our passionate employees and vendor partners," said Nasty Gal CEO Sheree Waterson. "I congratulate boohoo.com on their anticipated successful acquisition and am confident that Nasty Gal's strong legacy will complement their business."
Founded in 2006 by entrepreneur Sophia Amoruso, Nasty Gal began life as a vintage clothing store on eBay before expanding to become one of the industry's biggest online successes, selling a combination of curated and in-house ready-to-wear collections and accessories. Amoruso penned a bestselling book, "Girlboss", about her entrepreneurial experience, which is being transformed into a Netflix series set to debut in 2017. However, she stepped down as CEO of the company in 2015 and the company filed for bankruptcy last November.
Boohoo.com has carved out a niche for itself as the ultimate fast-fashion fix at affordable price points, growing rapidly since its 2006 launch to cover menswear, womenswear and children's fashion and accessories. The brand, which releases up to 100 new pieces every day, and a new collection each week, is expected to continue Nasty Girl brand sales if the acquisition is successful.
