Boohoo launches German language site - UPDATE

22nd Jul 2014 09:02

Online fashion retailer Boohoo has launched a German language website in an effort to strengthen its international presence.The launch, which is being supported by a marketing campaign in Germany, is the third foreign language site following the launch of the French site last October and the Spanish site this past May. The AIM-listed group has also added three new currencies: Swedish krona, Danish krone and Norwegian krone, in addition to the already existing six major currencies.For the year ended February international sales accounted for 35% of total sales, Boohoo added, a substantial uplift from before.Broker N1Singer said this was "exciting news" as it backed up earlier analysis about the company's potential for increasing margins. "Germany currently represents a tiny proportion of group sales (less than 1%) but is a large target market so this launch offers significant potential," said analyst Matthew McEachran.He added that post-IPO fall of around 25% in the shares presented a compelling buying opportunity for investors.As of 09:13 the share price had risen 1.67% to 38p.WS