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Boohoo is reportedly in talks to open a Debenhams store in a bid to land deals with a number of beauty brands.
According to the Times, “one store and one store only” will be opened to cater for those brands that would only supply when there is a physical retail presence.
John Lyttle, chief executive at Boohoo, told the paper that the fast-fashion retailer is currently in the process of “onboarding” the brands following the group’s £55m Debenhams takeover in January.
While cosmetic brands such as Benefit, Elizabeth Arden, and Ralph Lauren have recently featured on the group’s relaunched website, a raft of names including Chanel and Yves Saint Laurent are yet to be confirmed.
News of the “small shop outside of London” follows Boohoo’s recently announced 32% year-on-year spike in revenues for Q1 FY21.
The group’s £486.1m revenues for the three months ended 31 May 2021 were driven by a 50% uptick in UK revenues and a 43% increase in its US operations, offsetting revenue declines in Europe and the rest of the world.
Lyttle told the Times that consumer demand has now switched away from the lockdown demand for hoodies and jogging bottoms, with dresses and casual clothes now the most notable items of choice.
Boohoo declined to comment.
