Boohoo Rebranding Blocked by Frasers Group Opposition

Boohoo's plan to rebrand its holding company to Debenhams was blocked by Frasers Group, which leveraged its 27% stake to prevent the name change at a recent shareholder meeting. Despite this, Boohoo intends to proceed with rebranding its communications and stock market ticker to Debenhams (DEBS) starting March 31, 2025. Frasers, a competitor led by Mike Ashley, was able to block the resolution as it garnered significant opposition and required a 66% majority to pass. The rebranding effort is part of Boohoo's strategy to leverage the Debenhams brand, which it acquired in 2021, amid declining sales in its younger fashion labels. Boohoo's CEO, Dan Finley, remains optimistic, viewing the successful turnaround of Debenhams as a model for the company's future. The board expressed disappointment in Frasers' self-interested vote, highlighting ongoing tensions between the two major retail players.