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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