Boohoo.com is poised to make a marketing ‘land grab’ for customers over the coming months in an effort to capitalise on the massive publicity around its recent stock market float.
The sale of shares made founders Mahmud Kamani and Carol Kane millionaires last month and now they have to prove the faith of investors was deserved.
Boohoo.com has earmarked a 60 per cent rise in its marketing budget this year to help achieve that, our sources have told us. It is a huge increased which, if translated into a similar rise in sales, would see the firm’s turnover rise to more than £170 million in the financial year to next February.
The push comes as the owners of a host of other young fashion web sites such as Missguided.co.uk aim to emulate the good fortune of Boohoo and Asos founders.
Although the market could get increasingly crowded over the next couple of years Boohoo.com hopes to have a clear early-mover advantage over other competitors.
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