Boohoo bids $20M for Nasty Gal's IP

Sophia Amoruso, founder and CEO of Nasty Gal (Image: TechCrunch, CC BY 2.0)

Online retailer Boohoo.com has bid $20 million to gain the intellectual property of Nasty Gal, less than two months after the company filed for bankruptcy protection. Nasty Gal was born online in 2006 and has been growing more than 500% annually. Just a few years ago, the company was valued at $200 million. Since then, the brand has opened a brick-and-mortar location in Santa Monica, California, and another in Los Angeles. However, Boohoo's offer suggests that the brand's greatest value lies within its intellectual property, not its physical presence. (WWD)