Boohoo on Monday confirmed that it has bought the Debenhams brand for £55m. It will use it to move into beauty and homewares, extend its own brand offering, operate a giant online marketplace and grow internationally.
Lomax will lead the brand's global design strategy, provide creative direction across all areas of the business and will be responsible for defining and strengthening all product categories, among other responsibilities.
Boohoo delivered a powerful set of final results on Wednesday to show just how much money can be made from selling affordable fast-fashion online and that its formula can perform globally as well as in the UK.
Boohoo Group has announced a new CEO from rival Primark with current co-CEO Carol Kane set to stand down as part of a board re-alignment. But Kane will remain heavily involved with company and will take on a new role.
Boohoo.com went from strength to strength last year as sales doubled and profits surged. And its short-term aim of being a £1bn op is dwarfed by its longer-term goal of leading the e-tail market with £3bn in sales.
Large shareholders in British online fast-fashion retailer boohoo see market concerns over the company's profit margins as overblown and are making the most of a share price rout to add to their holdings.
Boohoo continued its impressive run in the last months of 2017 with its main brand, as well as PrettyLittleThing and Nast Gal, all powering ahead globally. Can surging growth continue? The company thinks it can.
The first half saw stunning sales rises at Boohoo.com and while margins suffered, growth in menswear and specialist product, a focus on international expansion and on integrating its acquired brands really paid off.