Boohoo’s Christmas shopping splurge on PrettyLittleThing
ONLINE fast fashion retailer boohoo.com has bought a majority stake in the rival online fashion retailer owned by the son of its founder.
It has paid £3.3m for a 66% stake in 21 Three Clothing Company Ltd, trading as PrettyLittleThing, which was founded by boohoo boss Mahmud Kamani's sons Umar and Adam in 2012.
The company pointed out that this is pro rata to the March 2014 option agreement when it listed to acquire 100% for £5m.
The remaining 34% will be used to incentivise chief executive Umar ... For the full story register now for free or login below...