The online fashion retailer Boohoo is to rename itself Debenhams, the department store brand it bought out of administration four years ago, after sales from its young fashion labels sank more than a fifth amid heavy competition from the likes of Shein.
Dan Finley, the chief executive of the online fashion specialist, said sales for its founding brand Boohoo, as well as MAN and Pretty Little Thing, slid by 21% to £947m as “we lost our way”.
