Mahmud Kamani
Mahmud Kamani | |
|---|---|
| Born | Mahmud Abdullah Kamani August 1964 (age 59) |
| Nationality | British |
| Occupation | businessman |
| Known for | co-founder and joint CEO, Boohoo.com |
| Children | 3, including Umar Kamani and Adam Kamani |
| Parent | Abdullah Kamani |
Mahmud Abdullah Kamani (born August 1964) is a British billionaire businessman, the co-founder of and joint CEO of Boohoo.com.
Early life
His father Abdullah Kamani left Kenya in the 1960s, and moved to north-west England with his wife and four children.[2] Abdullah started by selling handbags on a market stall, before starting a family textile business, supplying New Look and Primark.[2]
Career
In 2013, Kamani was awarded ‘Entrepreneur of the Year’ at the English Asian Business Awards.[3] In 2015 he was honoured at the Legends of Industry Awards.[4]
In April 2017, Boohoo announced that its profits had almost doubled to £31 million on sales up by 51% to almost £300 million.[5] When the company was floated on the stock market in 2014, it was valued at £560m, and is worth about £2 billion as of April 2017.[5] In June 2017, Kamani sold a total of 36.6 million shares together with his siblings, Nurez and Rabia. He sold over £80 million worth of Boohoo shares and raised an additional £50 million by placing 22.7 million new shares. The funds raised are earmarked for the development of a “supersite” warehouse.[6][7][8]
In 2018, his brother Jalal Kamani sold 7.7 million shares for an estimated £15 million, and the Boohoo share price dipped by over 4% after news of the sale.[9] However in April 2018, Boohoo shares recovered after brand PrettyLittleThing doubled sales. Boohoo owns 66% of the brand.[10]
Personal life
Mahmud Kamani and his wife Aisha have three sons. Both Umar Kamani and Adam Kamani, who co-founded, PrettyLittleThing.com, are active in the family business.[11]
His brother Jalal Kamani is the trading director of Boohoo.[12]
Mahmud Kamani retains his connection to Kenya by supporting Kibera Kids, a Nairobi based non-profit organization.[13]
References
- ^ "Rich List 2017: #175, £732 million". The Sunday Times Magazine. 7 May 2017. p. 58.
- ^ a b Zoe Wood. "Boohoo determined not to be another fashion sob story | Business". The Guardian. Retrieved 15 May 2017.
- ^ Begum, Shelina (1 October 2013). "Boohoo founder recognised at national awards". men. Retrieved 25 June 2018.
- ^ "Legends of Industry Awards 2015". Variety, the Children's Charity. 20 November 2015. Retrieved 25 June 2018.
- ^ a b "Boohoo online fashion retailer sees its profits double - BBC News". Bbc.co.uk. 26 April 2017. Retrieved 15 May 2017.
- ^ Monaghan, Angela (9 June 2017). "Boohoo co-founder sells £80m in shares as he reveals 'supersite' plan". the Guardian. Retrieved 25 June 2018.
- ^ Begum, Shelina (8 June 2017). "Shares soar as Boohoo raises £50m to fund new 'super' warehouse". men. Retrieved 25 June 2018.
- ^ "Boohoo bounces after raising £50m and upgrading sales forecast". Financial Times. Retrieved 25 June 2018.
- ^ "MARKET REPORT: Boohoo sinks as owner's brother sells £14m shares". This is Money. Retrieved 25 June 2018.
- ^ Smith, Rebecca (25 April 2018). "Boohoo shares soar after sales nearly double on "exceptional" performance". Retrieved 25 June 2018.
- ^ "Boohoo's billionaire founders have little to cry about". NewsComAu. Retrieved 25 June 2018.
- ^ Dennys, Harriet. "City Diary: No tears as Boohoo.com keeps it in the family". Telegraph. Retrieved 15 May 2017.
- ^ "Key Partnerships | Kibera Kids | 0161 817 5020". www.kiberakids.org. Retrieved 25 June 2018.