Boohoo revenue drops 17% as firm pivots away from fast fashion

Turnover at Boohoo Group — which includes boohoo, PrettyLittleThing, and Debenhams marketplace — were down 10 per cent in half-year to August

Boohoo: fast fashion company run by Offaly man John Lyttle saw gross profits fall in first half of this year to £389.2 million. Picture: Getty

Boohoo, the fast fashion company run by Offaly man John Lyttle, had a 17 per cent drop in revenue for the first half of 2023 as it tries to shift away from fast fashion towards more expensive and profitable products.

The company had a total revenue of £729.1 million (€840 million) for the six months to the end of August 2023, compared to £882.4 million in the same period in 2022.

Its gross profits also ...