Umar Kamani, a co-founder of PrettyLittleThing, has acquired a 3 per cent interest in Boohoo.
Mahmud Kamani, a co-founder of Boohoo, is the father of Kamani. Despite a recent decline in Boohoo’s pre-tax profits from £ 98.7 million to £ 75.1 million, he acquired a share in the company.
After 12 years at the leadership of PrettyLittleThing, which is owned by Boohoo, PLT’s creator Kamani announced in April that he would be stepping down. He led the online fashion firm’s rapid expansion from an accessories website to a recognised global brand.
Last month retail giant Frasers Group upped its stake in Boohoo from 6.8 per cent to 7.8 per cent. Frasers Group has recently been on an acquisition spree, purchasing shares in companies including AO, Currys and Asos.
