The 'bonfire of brands' continues, with the continued Covid-19 lockdown hitting already troubled fashion businesses across Europe. However, while many traditional retailers are taking stock of their cash and planning the re-start of high street stores, there are bold moves being taken by online giants to bring popular brand names into the stable.

Online fashion retailer Boohoo joins rival Asos in raising funds to 'take advantage of numerous opportunities'. Joules and WH Smith are also believed to be eyeing up opportunities to grow through acquisition. Similarly, further consolidation in the luxury goods market is expected to take place.

Retailers who want to strengthen their market position will need to move quickly to get ahead. It will require a decent risk appetite though: the recent report by Nosto revealed that online fashion retail sales have fallen 30% year-on-year in March as a result of the Covid-19 epidemic. Right now, it seems, no-one is immune from the disruption taking place.