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PrettyLittleThing founder Kamani takes three per cent stake in Boohoo

Umar Kamani

PrettyLittleThing co-founder Umar Kamani has snapped up a three per cent stake in Boohoo, according to a new filing with the London Stock Exchange.

The move comes despite a recent dip in Boohoo’s pre-tax profits, from £98.7m to £75.1m.

Umar Kamani revealed he would be stepping down as chief executive of Boohoo-owned PrettyLittleThing back in April, after 12 years at the helm.

Kamani oversaw the PLT’s growth from a website selling accessories to an estimated £3.8bn global brand in his 12 years at the helm.

Last month retail giant Frasers Group upped its stake in Boohoo for a second time, 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.

Boohoo founder Mahmud Kamani remains its largest shareholder with around a 12.5 per cent stake in the online fashion giant.

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