Fashionmall.com buys Boo.com

CampaignLive 02-Jun-00

- Fashionmall.com, a New York-based fashion portal, has acquired the Boo.com brand and domain name from the liquidators, KPMG, for an undisclosed sum.

- Fashionmall.com, a New York-based fashion portal, has acquired the Boo.com brand and domain name from the liquidators, KPMG, for an undisclosed sum.

The company said it will keep the Boo.com business going and intends to succeed where Boo.com failed by altering the site's business model.

According to a spokesman for Fashionmall: "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. The old Boo would have sold you a pair of Nike trainers from its warehouses. Now the shopper will go straight to Nike."

The sale of the brand and domain name follows Monday's sell off of Boo's technology for a quarter of a million pounds to Bright Station.

Boo.com collapsed last month after only six months of operation and months of delays. It managed to spend £80 million of venture capital investment during 18 months.

While Fashionmall refused to comment on how much it paid for Boo it is understood to be considerably more than Bright Station.

Fashionmall will move Boo.com away from direct retail and turn it into a portal connecting consumers with retailers, manufacturers and catalogues. It also plans to bring the short-lived Boo online magazine, Boom, back to live along with the site's virtual shopping assistant - Ms Boo..