It has been revealed that e-tailer Boohoo is in line to purchase US-based company Nasty Gal for $20 million (£16.1 million).
Nasty Gal was formed in 2006 and was aimed at teenage girls and ladies in their 20s, however the company went bankrupt in November.
Boohoo revealed that it would be taking part in a bidding process for the US company as the “stalking horse” candidate, which means that Nasty Gal selected the etailer to make the first bid.
Joint chief executives of Boohoo, Mahmud Kamani and Carol Kane, commented: “the board believed acquiring Nasty Gal would help accelerate Boohoo's international growth and allow the company to leverage its product development, supply chain and distribution expertise.”
Ms Kane added: "Should we be successful in acquiring Nasty Gal it would represent a fantastic opportunity to add such a well-established, global brand to the Boohoo family."
Acquiring Nasty Gal would make this the second purchase for Boohoo as the company have just acquired 66% of PrettyLittleThing.
