PrettyLittleThing co-founder Umar Kamani invests millions in fashion giant Boohoo
Umar Kamani, who co-founded PrettyLittleThing, has bought a stake in fashion giant Boohoo worth around £15m.
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.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..
Shares in Boohoo closed on Monday, August 7, at 39.2p, giving the group a market capitalisation of just under £500m. A year ago, its shares were trading at 61.1p.In recent months, Mike Ashley's Frasers Group has been gradually building a stake in Boohoo which now stands at almost 8%.
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