BOOHOO: FIVE THINGS YOU MAY NOT KNOW ABOUT THE FASHION FIRM
From bbc.com Estimated Reading Time 6 mins
The Manchester-based family behind it are billionaires. Boohoo was founded by entrepreneur Mahmud Kamani and designer Carol Kane. The pair had worked together at Pinstripe Clothing, a company that was set up by Kamani's father Abdullah.
Social media is key to its success. While big High Street names like Topshop or Debenhams might have been suffering over the last few years, business at Boohoo has been booming.
The group has bought struggling brands. Some experts have said that one key element behind Boohoo's success is its online-only business model. "The 16-24 age bracket have lower spending power, and they are more tech-savvy than older generations too, so the idea of online shopping appeals to them," says David Madden at CMC Markets, who analyses firms' finances to help clients make business decisions.
Boohoo turns clothes around quickly. Boohoo adds new dresses, tops, accessories and shoes to its website every single day. To turn items around quickly, it uses what's called a "test and repeat" model, where it produces small batches of lots of new styles - sometimes even just tens or hundreds of one item.
It's facing a backlash. Boohoo has also been forced to defend the fact it sells clothes very cheaply after allegations over pay and poor working conditions.
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