PrettyLittleThing co-founder Umar Kamani invests millions in fashion giant Boohoo
manchestereveningnews.co.ukUmar Kamani, who co-founded PrettyLittleThing, has bought a stake in fashion giant Boohoo worth around £15m. The businessman has snapped up a 3% stake in the Manchester-headquartered group, according to a new filing with the London Stock Exchange.
Mr Kamani set up PrettyLittleThing with his brother Adam in 2012 and is the son of Boohoo co-founder Mahmud Kamani. A majority stake in the company was bought by Boohoo in 2016.
The group then bought the remaining shares it did not own in PrettyLittleThing for up to £323.8m in M ay 2020. Try MEN Premium for FREE by clicking here for no ads, fun puzzles and brilliant new features. According to its most recently-available financial accounts, for the year to February 28, 2022, PrettyLittleThing posted a revenue of £712.2m for the 12 months to February 28, 2022, up from the £710.1m it achieved in the prior 12 months.
However, the company's pre-tax profits fell from £98.7m to £75.1m over the same period. Umar Kamani announced he was to step down as chief executive of PrettyLittleThing in April this year.
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