The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The British businessman confirmed the news in an Instagram post Sunday.
He and his brother Adam Kamani founded the brand in 2012 and grew it to become a fast-fashion giant which generated revenues of £712 million ($882 million) in 2022.
”I’m at the stage in my life where I need to set myself new challenges and goals and build new brands that hopefully you all love and support as much as you did with this one,” he told his 1.3 million Instagram followers.
Kamani will continue to support the Boohoo-owned brand in the coming months as it searches for a new chief executive, he added.
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Is Resale Fuelling Overconsumption?
Ultra-fast fashion e-tailer PrettyLittleThing is the latest brand to launch a secondhand marketplace, playing into a debate over whether resale is becoming a smokescreen for even more and faster consumption.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.