Boohoo to go forward with Debenhams rebrand despite Frasers backlash
Debenhams campaign Credits: Debenhams Boohoo Group and its majority shareholder, Frasers Group, are clashing once again. Upon Boohoo revealing plans to rebrand the company to Debenhams Group, the fast fashion giant initiated a general meeting calling on shareholders to vote for or against the proposal. It was here that Frasers, the parent company of Sports Direct and the owner of over 413 million Boohoo shares, expressed its disapproval of the plans. While 14.4 percent of shareholder votes were against the rebrand, 77.3 percent of votes were in favour. In the regulatory filing following the meeting, Boohoo revealed that “major competitor” Frasers had voted against the resolution, a fact it said had come as “no surprise to the board”. The statement further claimed that Frasers “continues to act in its own self-interest”, referring to past difficulties between the two British fashion giants. Despite this, Boohoo committed to moving forward as Debenhams Group, and ultimately changed its stock market ticker to DEBS on March 31. The name change intends to reflect what chief executive officer, Dan Finley, said was a “successful turnaround of Debenhams” which would serve as “the blueprint for the turnaround of the wider group”. Frasers and Boohoo have continued to clash over differences of perspective towards this ongoing turnaround, the duo having participated in somewhat of a war of words towards the end of 2024 as the latter initiated a wider transformation strategy and suggested it was considering a split of the group. Frasers, in turn, proceeded in an attempt to takeover the group.
Boohoo Group and its majority shareholder, Frasers Group, are clashing once again. Upon Boohoo revealing plans to rebrand the company to Debenhams Group, the fast fashion giant initiated a general meeting calling on shareholders to vote for or against the proposal. It was here that Frasers, the parent company of Sports Direct and the owner of over 413 million Boohoo shares, expressed its disapproval of the plans.
While 14.4 percent of shareholder votes were against the rebrand, 77.3 percent of votes were in favour. In the regulatory filing following the meeting, Boohoo revealed that “major competitor” Frasers had voted against the resolution, a fact it said had come as “no surprise to the board”. The statement further claimed that Frasers “continues to act in its own self-interest”, referring to past difficulties between the two British fashion giants.
Despite this, Boohoo committed to moving forward as Debenhams Group, and ultimately changed its stock market ticker to DEBS on March 31. The name change intends to reflect what chief executive officer, Dan Finley, said was a “successful turnaround of Debenhams” which would serve as “the blueprint for the turnaround of the wider group”.
Frasers and Boohoo have continued to clash over differences of perspective towards this ongoing turnaround, the duo having participated in somewhat of a war of words towards the end of 2024 as the latter initiated a wider transformation strategy and suggested it was considering a split of the group. Frasers, in turn, proceeded in an attempt to takeover the group.
