{"id":166474,"date":"2020-05-28T08:55:00","date_gmt":"2020-05-28T08:55:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/"},"modified":"2021-08-06T12:05:54","modified_gmt":"2021-08-06T12:05:54","slug":"boohoo-buys-remaining-stake-in-prettylittlething","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/","title":{"rendered":"Boohoo buys remaining stake in PrettyLittleThing"},"content":{"rendered":"<p>Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013<strong> for \u00a3269.8 million.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>Umar Kamani, who founded Pretty Little Thing in 2012, <strong>could see the amount rise by \u00a354 million<\/strong> if the deal can help Boohoo shares hit 491p a share for a six-month period at some point over the next four years.<\/p>\n<p>The deal for the women\u2019s fashion brand aimed at the 16 to 24-year-old market was an \u201c<strong>important further step towards achieving its vision<\/strong> to lead the fashion e-commerce market globally\u201d, Boohoo said in a statement.<\/p>\n<p>The deal, which had been played down by the company following initial reports, is the latest in a string of acquisitions made by the fashion business, including high street names Karen Millen and Coast and smaller online rival MissPap. The group also owns the Nasty Gal brand.<\/p>\n<p>Boohoo said: \u201cAfter this acquisition and with its growing platform of wholly owned, innovative fashion brands, <strong>the group believes it can continue to successfully disrupt the international markets<\/strong> it operates in today whilst retaining a strong balance sheet in order to take advantage of numerous M&amp;A opportunities that are likely to emerge in the global fashion industry over the coming months.\u201d<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/?utm_source=website&amp;utm_medium=banner&amp;utm_campaign=insight_button&amp;utm_content=insight_button_0719\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-143048 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Screenshot-2020-05-11-at-18.39.04-2.png\" alt=\"\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n<p>Since Boohoo <strong>bought a stake in Pretty Little Thing in January 2017 of 66%<\/strong>, revenues have hit \u00a3516 million with profits of \u00a345.2 million after tax.<\/p>\n<p>It added: \u201cThe group intends the senior management team at PLT, including<strong> Umar Kamani and [COO] Paul Papworth, to remain in their current roles<\/strong> and continue focusing on developing PLT into a global brand.\u201d<\/p>\n<p>Since the coronavirus lockdown hit, Boohoo said it saw a marked fall in sales in March but a swift rebound in April as it quickly pivoted its offer away from party wear to lounge and leisurewear.\u00a0Earlier this month it <a href=\"https:\/\/www.theindustry.fashion\/boohoo-to-raise-200m-as-it-eyes-up-acquisitions\/\">launched a share placing raising \u00a3200m<\/a> for future acquisitions saying the COVID-19 crisis would provide it with many opportunities.<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/boohoo-group-denies-cashflow-claims\/\">Yesterday the group was forced to defend itself<\/a> against claims from a hedge fund that it had exaggerated its free cashflow.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":138668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[3791,21,11375,10996,11373,11374],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-28T08:55:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-06T12:05:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/Umar-unicorn-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lauretta Roberts\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lauretta Roberts\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\"},\"author\":{\"name\":\"Lauretta Roberts\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\"},\"headline\":\"Boohoo buys remaining stake in PrettyLittleThing\",\"datePublished\":\"2020-05-28T08:55:00+00:00\",\"dateModified\":\"2021-08-06T12:05:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\"},\"wordCount\":345,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Boohoo\",\"E-commerce\",\"Fast Fashion\",\"Mahmud Kamani\",\"PrettyLittleThing\",\"Umar Kamani\"],\"articleSection\":{\"1\":\"Finance\",\"2\":\"News &amp; Insight\",\"3\":\"Retail &amp; Etail\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\",\"url\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\",\"name\":\"Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#website\"},\"datePublished\":\"2020-05-28T08:55:00+00:00\",\"dateModified\":\"2021-08-06T12:05:54+00:00\",\"description\":\"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,\",\"breadcrumb\":{\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.theindustry.fashion\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Boohoo buys remaining stake in PrettyLittleThing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.theindustry.fashion\/#website\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"name\":\"TheIndustry.fashion\",\"description\":\"Fashion news, insights, podcasts and events for professionals from across the fashion sector.\",\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.theindustry.fashion\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\",\"name\":\"TheIndustry.fashion\",\"url\":\"https:\/\/www.theindustry.fashion\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"contentUrl\":\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png\",\"width\":585,\"height\":217,\"caption\":\"TheIndustry.fashion\"},\"image\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/theindustryfashion\/\",\"https:\/\/twitter.com\/theindustryfash\",\"https:\/\/www.instagram.com\/theindustryfashion\/\",\"https:\/\/www.linkedin.com\/company\/10970016\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89\",\"name\":\"Lauretta Roberts\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g\",\"caption\":\"Lauretta Roberts\"},\"description\":\"Lauretta Roberts is the CEO, Co-founder and Editor-in-Chief of The.Industry.fashion She is also the former director of brand &amp; propositions of trend forecaster WGSN and a former editor of Drapers magazine.\",\"sameAs\":[\"http:\/\/www.theindustrylondon.com\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion","description":"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/","og_locale":"en_GB","og_type":"article","og_title":"Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion","og_description":"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,","og_url":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/","og_site_name":"TheIndustry.fashion","article_publisher":"https:\/\/www.facebook.com\/theindustryfashion\/","article_published_time":"2020-05-28T08:55:00+00:00","article_modified_time":"2021-08-06T12:05:54+00:00","og_image":[{"width":720,"height":480,"url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/Umar-unicorn-2.jpg","type":"image\/jpeg"}],"author":"Lauretta Roberts","twitter_card":"summary_large_image","twitter_creator":"@theindustryfash","twitter_site":"@theindustryfash","twitter_misc":{"Written by":"Lauretta Roberts","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#article","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/"},"author":{"name":"Lauretta Roberts","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89"},"headline":"Boohoo buys remaining stake in PrettyLittleThing","datePublished":"2020-05-28T08:55:00+00:00","dateModified":"2021-08-06T12:05:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/"},"wordCount":345,"commentCount":0,"publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"keywords":["Boohoo","E-commerce","Fast Fashion","Mahmud Kamani","PrettyLittleThing","Umar Kamani"],"articleSection":{"1":"Finance","2":"News &amp; Insight","3":"Retail &amp; Etail"},"inLanguage":"en-GB","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#respond"]}],"copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/www.theindustry.fashion\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/","url":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/","name":"Boohoo buys remaining stake in PrettyLittleThing - TheIndustry.fashion","isPartOf":{"@id":"https:\/\/www.theindustry.fashion\/#website"},"datePublished":"2020-05-28T08:55:00+00:00","dateModified":"2021-08-06T12:05:54+00:00","description":"Boohoo has bought the remaining stake of PrettyLittleThing \u2013 founded by Umar Kamani son of Boohoo founder Mahmud Kamani \u2013 for \u00a3269.8 million. Umar Kamani,","breadcrumb":{"@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.theindustry.fashion\/boohoo-buys-remaining-stake-in-prettylittlething\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.theindustry.fashion\/"},{"@type":"ListItem","position":2,"name":"Boohoo buys remaining stake in PrettyLittleThing"}]},{"@type":"WebSite","@id":"https:\/\/www.theindustry.fashion\/#website","url":"https:\/\/www.theindustry.fashion\/","name":"TheIndustry.fashion","description":"Fashion news, insights, podcasts and events for professionals from across the fashion sector.","publisher":{"@id":"https:\/\/www.theindustry.fashion\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.theindustry.fashion\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.theindustry.fashion\/#organization","name":"TheIndustry.fashion","url":"https:\/\/www.theindustry.fashion\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/","url":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","contentUrl":"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2022\/06\/LOGO.png","width":585,"height":217,"caption":"TheIndustry.fashion"},"image":{"@id":"https:\/\/www.theindustry.fashion\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/theindustryfashion\/","https:\/\/twitter.com\/theindustryfash","https:\/\/www.instagram.com\/theindustryfashion\/","https:\/\/www.linkedin.com\/company\/10970016\/"]},{"@type":"Person","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/85b04a16eba8c6cd7a9534c5a4262b89","name":"Lauretta Roberts","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.theindustry.fashion\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c0dfd15bd9969aa1cbd9cdc088372e7c?s=96&d=mm&r=g","caption":"Lauretta Roberts"},"description":"Lauretta Roberts is the CEO, Co-founder and Editor-in-Chief of The.Industry.fashion She is also the former director of brand &amp; propositions of trend forecaster WGSN and a former editor of Drapers magazine.","sameAs":["http:\/\/www.theindustrylondon.com"]}]}},"_links":{"self":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/166474"}],"collection":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/comments?post=166474"}],"version-history":[{"count":0,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/posts\/166474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media\/138668"}],"wp:attachment":[{"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/media?parent=166474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/categories?post=166474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.theindustry.fashion\/wp-json\/wp\/v2\/tags?post=166474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}