Last week, when Boohoo, a British online fast-fashion retailer, reported stronger-than-expected earnings, it noted it had its eye on struggling rivals. “It is likely many opportunities will arise in the coming weeks and we will take a look at those and make an assessment on whether we can add value,” said Neil Catto, the company’s finance director.
Read MoreNEW YORK, United States — The fashion industry is bracing for a wave of consolidation as brands weakened by the pandemic will likely be snapped up by stronger rivals and private equity firms.
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