The UK fashion retailer Boohoo.com has its eye on acquiring Los Angeles brand Nasty Gal.
The fast-fashion giant is proposing a bid of $20 million for its rival US label, which filed for bankruptcy in November. Nasty Gal Inc has announced it is seeking permission from the US Bankruptcy Court to launch an auction process for the sale of its business, and is set to ask for approval for Boohoo to act as the 'stalking horse bidder'. The auction is expected to take place in February.
A potential purchase would be a further boost for the rapidly-growing Manchester-based Boohoo, which added the fashion site Pretty Little Thing to its portfolio earlier this year, as well as teming up with model Jordyn Woods on a size-inclusive capsule collection released last autumn.
Founded in 2006, the company has carved out a niche for itself as the ultimate fast-fashion fix for an affordable price, releasing up to 100 new pieces every day, and a new collection each week. It covers menswear, womenswear and children's fashion and accessories.
Nasty Gal was also founded in 2006 by entrepreneur Sophia Amoruso. It 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. She stepped down as CEO of the company in 2015.