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Online fashion retailer Boohoo doubles sales over festive period

Emma Hill. Sales at PLT, where hundreds of new products are added to the website every day to satisfy its fashion hungry shoppers, were up 191% on the previous year. Boohoo’s USP is inexpensive clothing aimed at fashion-conscious women, with its figure-hugging Lycra dresses starting at £10 while thigh-high boots cost £30. Its sharp pricing is giving high street rivals such as Primark a run for their money as it targets young shoppers with limited finances. The standout performance by Boohoo comes as Britons’ finances are squeezed by slow wage growth and higher inflation, a predicament that forced online shopping clothes them to cut back on buying almost everything other than food in the run-up to Christmas. Boohoo co-founder sells £80m in shares as he reveals 'supersite' plan Retailers with strong digital operations are proving to be more insulated from the downturn in consumer demand than those with large store networks to run. Earlier this week, fashion company Ted Baker also reported higher sales over Christmas thanks to a surge in online purchases. Boohoo was set up in 2006 by Mahmud Kamani and his business partner, Carol Kane, who previously supplied high street rivals such as Primark and New Look. The duo share the role of chief executive. Its shares have soared in value since listing on the stock exchange in 2014 .

For the original version including any supplementary images or video, visit https://www.theguardian.com/business/2018/jan/11/online-fashion-retailer-boohoo-doubles-sales-over-festive-period

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