Umar Kamani, the co-founder and former CEO of fast fashion brand PrettyLittleThing, has bought a 3 percent stake in Boohoo Group.
PrettyLittleThing was acquired by Boohoo in 2020, and Kamani is the son of Boohoo co-founder Mahmud.
The stake acquisition comes after Boohoo’s share price dropped in recent months amid a feud with Revolution Beauty, of which it is a majority stakeholder.
In July, Frasers Group raised its holding of shares in Boohoo to 6.78 percent after buying an initial stake in the fast fashion giant a month earlier.
Kamani, who founded PrettyLittleThing with his sibling Adam in 2012, stepped down as CEO in April after 12 years with the company to pursue other projects and launch new brands.