Boohoo founder buys son’s firm

ONLINE fashion retailer Boohoo has bought the remaining stake of Pretty Little Thing from £269.8million.

Umar Kamani, who founded Pretty Little Thing, could see the amount rise by £54million if the deal can help Boohoo shares hit 491p for a six-month period at some point over the next four years. He is the son of Boohoo’s chairman and cofounder Mahmud Kamani.

Since Boohoo bought 66 per cent of Pretty Little Thing in 2017, revenues have hit £516million with profits of £45.2million after tax.