It has been reported that Umar Kamani, the founder of PrettyLittleThing, is thinking about applying for the CEO role at Boohoo Group. It follows the announcement late last week by the fast fashion behemoth that its CEO, John Lyttle, would be leaving the company after five years.
According to industry insiders, no official approach had been taken, and it was still early to comment on the matter. Kamani, the son of Mahmud Kamani, one of the co-founders of Boohoo, helped make PrettyLittleThing a US $ 911.74 million brand annually. Before acquiring the whole company in 2022, Boohoo purchased a 66 per cent share in the fledgling clothes shop in 2017.
After leaving his position as CEO of PrettyLittleThing in April of last year, Kamani took over again in September.
Three months after the retailer discontinued the benefit, the returning boss has stayed true to his pledge to put customers “at the forefront” by bringing back free returns for brand loyalty program members.
As fast fashion competitors like SHEIN have grown in popularity, Boohoo Group has struggled in recent years with growing expenses and declining sales.
The owner of PrettyLittleThing and Debenhams revealed last week that it has obtained a US $ 289.15 million debt refinance deal to fund its “next phase of development” while it contemplates disbanding the company. In order to “unlock and maximise shareholder value,” the company stated that it was investigating its options.
