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BOOHOO ACQUIRE MAJORITY STAKE IN PRETTY LITTLE THING
19 dec 2016

BOOHOO ACQUIRE MAJORITY STAKE IN PRETTY LITTLE THING

Shares in Boohoo rose sharply on Friday as news came though that the company had purchased a 66% stake in another online fashion company, PrettyLittleThing. PrettyLittleThing is led by Umar Kamani, who happens to be the son of Boohoo's founder and chief executive Mahmud Kamani.

Manchester-based Boohoo, which launched in 2006, targets customers between the ages of 16 and 24 with own-brand clothing at affordable prices.

Boohoo Chairman Peter Williams said: “We believe this is an excellent opportunity to extend the group’s overall customer appeal through two distinct, complementary brands while further enhancing the group’s strong growth trajectory.”

It's been a good end to the year for Boohoo, whose stock is at a record high and their Facebook Live Black Friday give away was the best performing on the channel in 2016 (313,282 interactions)

To read the full article visit ThisIsMoney here

Tags: ThisIsMoney, Boohoo, PrettyLittleThing

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