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I SAW IT FIRST reshuffles board as founder Jalal Kamani steps down

Jeremy Lim
12 August 2022

Following its acquisition by Frasers Group last month, fashion etailer I SAW IT FIRST has reshuffled its Board of Directors with three members of the Kamani family stepping down.

According to an update on Companies House, the Manchester based-business' founder Jalal Kamani, Mustafa Kamani and Tayyab Kamani have all resigned as Directors of the company on 27 July 2022.

Stephen Mucklow, a long-term associate of Mike Ashley, was appointed as Director on the same day. Mucklow was also installed as a Director of Lancashire-based Studio Retail in May, following its takeover by the company.

Greg Pateras has resigned as a Director but remains CEO of the company. Leanne Holmes, its Buying, Merchandising and Brand Director has also resigned.

The registered address of the company has also moved from Manchester to Mansfield. Retail Ltd currently holds 75%+ of I SAW IT FIRST's shares and voting rights.

Fraser Group, which owns Sports DirectFlannels and House of Fraser, had announced the acquisition of I SAW IT FIRST for an undisclosed sum at the end of last month, after rescuing Missguided out of administration in June 2022 for £20 million.

I SAW IT FIRST was founded in 2017 by Jalal Kamani, the brother of Boohoo Co-founder Mahmud Kamani. The online fast fashion brand had reported a 30% increase in revenue for its annual results ending 3 October 2021. However, despite an increase in sales, I SAW IT FIRST reported a loss after tax of £7.8 million.

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