Online clothes giant Boohoo is set to snap up the digital businesses and brands of Karen Millen and Coast.
In a statement to the London Stock Exchange, Boohoo said: “The Board confirms that it has made an offer to acquire the online business of renowned British brands Karen Millen and Coast, together with all associated intellectual property rights.
“The Group believes that the online business of these brands would represent highly complementary additions to its scalable multi-brand platform and extend the Group’s offer as part of its vision to lead the fashion e-commerce market globally.
“These discussions may or may not result in agreement of a transaction. A further announcement will be made when appropriate.”
Karen Millen and Coast together employ about 1,100 people with 32 stores and 177 concessions across the UK.