Chief Executive Benjamin Nasarin confirmed that Fashionmall.com
had purchased “the very heart of Boo.com. All its domain names,
trademarks, front-end contents and contents rights.” He said that
the price being paid was more than the figure of £250,000 paid
earlier this week by internet venture group Bright Station for the
technology side of the business. Bright Station will licence the
technology solutions to consumer retailers.
Boo.com had spent £135 million of funding in less than 18
months, building its brand name throughout Europe. Nasarin said the
group would transform Boo’s business model. “Boo’s business model
failed. But Boo the brand was succeeding. Boo is probably one of
the top 10 most recognised brands on the internet.”
Nasarin explained that Boo.com would become a portal to connect
shoppers to retailers, manufacturers and catalogues, rather than
continue in direct retail.
Fashionmall.com has said it will use Boo.com to expand its
business in Europe. The Boo.com web site now redirects traffic to
Fashionmall.com. However, the company has promised to maintain
Boo.com as a force on the internet.
Boo.com called in KPMG as liquidators last month after investors
refused to provide additional funding to save the company.
