Shoppers will rejoice as this beloved favourite will return (Image: Getty)
Debenhams, a cherished fixture of the British high street that closed its doors in 2021, is making a comeback, albeit not in the way many might have expected. When closed four years ago, it seemed like the end of an era.
However, the brand was acquired by fast fashion behemoth Boohoo and transformed into an online marketplace within a year. Despite Boohoo’s own reputation challenges, Debenhams has retained its popularity among Brits.
Now, it’s set to return in full force, replacing the Boohoo name.
In a surprising turn of events, executives from the struggling fashion brand announced yesterday that they would be retiring the Boohoo branding in favour of the iconic 247 year old name they purchased for £55million.
“Debenhams is back,” declared chief executive Dan Finley, stating that this revamp will serve as the “blueprint for the wider turnaround of the group”, reports .
:
He added: “(We are) sharply focused on maximising value for all shareholders. It will be a leaner, faster and more technologically advanced business. I am confident our best days are ahead of us and I am excited for our future. Collectively they (other youth brands like ASOS) are a challenge for us, we see significant opportunity there. We’ve realised that potential by pivoting to marketplace.”
Despite the rebranding, the company will still proceed with the planned 200 job cuts at its Manchester Office and the closure of its US-based warehouse.
The decision to rebrand the company formerly known as Boohoo has been met with scepticism by industry specialists, who doubt it will be sufficient to salvage the brand’s tarnished image.
Dominique Muller, UK policy lead at Labour Behind the Label, criticised the move in an interview with Drapers, stating: “Instead of getting distracted by cosmetic changes, we should keep a focus on the core model of brands like Boohoo and what has previously gone wrong.”
Muller further remarked: “No matter what Boohoo chooses to call its business, it will take more than a name change to indicate the company has truly turned a corner.”
Retail expert Richard Hyman also weighed in, pointing out the futility of rebranding without substantial transformation: “Rebranding something is pointless unless you actually make changes. I think we’ll have to wait and see how they propose to change the nature of the business and its culture. Boohoo called Debenhams is still Boohoo.”
Hyman questioned the strategy behind the proliferation of marketplaces: “Everyone is doing what Debenhams is doing. Everyone has a [marketplace] now. How many platforms can [brands] be on? What are these new marketplaces adding to the market?”.
He also raised concerns about the impact on partners: “From a partner’s perspective, are your total sales going to go up? Will you be creating new business by selling on another platform?”.