Frasers buys I Saw It First shortly after Missguided swoop
So the rumours were true. Acquisition-hungry Frasers Group confirmed on Thursday that it has acquired online fashion retailer I Saw It First.
The company said it “looks forward to integrating I Saw It First, which today has over 5 million consumers, having rapidly grown its digital presence since its launch in 2017”.
It added that the operation “will benefit from the strength and scale of Frasers Group's platform and from the integration with [its] recently acquired business, Missguided”.
It didn't reveal the price that it paid or any other details about how the integration will work, but we’re bound to hear more about this in the weeks ahead.
Frasers had acquired Missguided out of administration last month, paying £20 million for the firm and rehiring founder and former CEO Nitin Passi to run it a few days later.
There are clear synergies between Missguided and I Saw It First. The latter was launched in Britain in 2017 by Jalal Kamani, the brother of Boohoo founder Mahmud Kamani.
Both businesses target a young consumer who like her (or his) clothes to be affordable, sexy and on-trend.
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