Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Inside the lavish lives of the billionaire family behind Boohoo, the fast-fashion giant called out in an investigation into workers being paid just $4 an hour at suppliers' factories

<ul class="summary-list"><li>Fast-fashion giant <keyword id="4275684" type="PERSON" weightage="60" keywordseo="boohoo">Boohoo</keyword> Plc reported its annual results for fiscal 2021 on Wednesday.</li><li>Sales were up 41% during the 12 month period ending in February 2021 versus the year before.</li><li>Analysts say the company has emerged "unscathed" from the pandemic and modern slavery allegations.</li></ul><p>2020 could have been a disastrous year for fast-fashion giant Boohoo. Not only did it have a global pandemic to contend with, but it also became the focus of a modern slavery investigation after a <a href="https://www.businessinsider.com/reviews/out?originalUrl=https%3A%2F%2Fgo.skimresources.com%2F%3Fid%3D35871X943606%26isjs%3D1%26jv%3D14.1.5-stackpath%26sref%3Dhttps%253A%252F%252Fwww.businessinsider.com%252Fboohoo-independent-review-of-supply-chain-following-exploitation-claims-2020-7%26url%3Dhttps%253A%252F%252Fwww.thetimes.co.uk%252Farticle%252Fboohoos-sweatshop-suppliers-they-only-exploit-us-they-make-huge-profits-and-pay-us-peanuts-lwj7d8fg2%26xguid%3D01E4ZMKGBHFEPKZXEQEFSNKK7Z%26xs%3D1%26xtz%3D-60%26xuuid%3D82956b11f2f06199797679556a119df5%26xcust%3Dxid%253Afr1594301381238cfh%26xjsf%3Dother_click__contextmenu%2520%255B2%255D&amp;postSource=bi%7C5f05d8624dca682276573206&amp;sessionid=1620213101508xkgx82j7&amp;type=ALREADY-AFFILIATE-LINK-NOT-AMAZON&amp;u=https%3A%2F%2Fgo.skimresources.com%2F%3Fid%3D35871X943606%26isjs%3D1%26jv%3D14.1.5-stackpath%26sref%3Dhttps%253A%252F%252Fwww.businessinsider.com%252Fboohoo-independent-review-of-supply-chain-following-exploitation-claims-2020-7%26url%3Dhttps%253A%252F%252Fwww.thetimes.co.uk%252Farticle%252Fboohoos-sweatshop-suppliers-they-only-exploit-us-they-make-huge-profits-and-pay-us-peanuts-lwj7d8fg2%26xguid%3D01E4ZMKGBHFEPKZXEQEFSNKK7Z%26xs%3D1%26xtz%3D-60%26xuuid%3D82956b11f2f06199797679556a119df5%26xcust%3Dxid%253Afr1594301381238cfh%26xjsf%3Dother_click__contextmenu%2520%255B2%255D&amp;xcust=xid:fr1620213106463cgfd:fr1620213106463cgf">Sunday Times report</a> revealed that <a href="https://www.businessinsider.com/boohoo-independent-review-of-supply-chain-following-exploitation-claims-2020-7">workers at a factory making its clothes</a> were paid as little as £3.50 ($4.80) an hour.</p><p>Despite this, the company has emerged from 2020 "with its sales performance untarnished," GlobalData <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> analyst Emily Salter said in a note to clients on Wednesday, commenting on Boohoo's annual results for the year ending February 2021.</p><p>Revenue across the group (Boohoo Plc owns PrettyLittleThing, Nasty Gal, and Coast among other brands) jumped 41% in fiscal 2021 from fiscal 2020, from £1.2 million ($1.6 million) to £1.7 ($2.35 million).</p><p>In a <a href="https://www.boohooplc.com/sites/boohoo-corp/files/all-documents/result-centre/2021/boohoo-group-prelim-fy21.pdf">statement</a> accompanying its earnings release on Wednesday, Boohoo Plc cofounders Carol Kane and Mahmud Kamani said the company made "great progress," reporting another set of record results for the past year.  </p><p>As an online-only business, Boohoo was better positioned to capture sales during the pandemic as brick-and-mortar stores temporarily closed and consumers only had the option to shop online. But Salter said that the company benefited from being more "agile" than others, by shifting focus to <a href="https://www.businessinsider.com/boohoo-sales-surge-during-pandemic-acquires-oasis-and-warehouse-2020-6">loungewear</a> and nightwear as sales of its core categories, such as dresses, declined.</p><p><a href="https://www.businessinsider.com/do-boohoo-low-prices-rely-on-exploitation-of-workers-2020-7">Boohoo's supply chain and business practices</a> were called out in a <a href="https://www.businessinsider.com/reviews/out?originalUrl=https%3A%2F%2Fgo.skimresources.com%2F%3Fid%3D35871X943606%26isjs%3D1%26jv%3D14.1.5-stackpath%26sref%3Dhttps%253A%252F%252Fwww.businessinsider.com%252Fboohoo-independent-review-of-supply-chain-following-exploitation-claims-2020-7%26url%3Dhttps%253A%252F%252Fwww.thetimes.co.uk%252Farticle%252Fboohoos-sweatshop-suppliers-they-only-exploit-us-they-make-huge-profits-and-pay-us-peanuts-lwj7d8fg2%26xguid%3D01E4ZMKGBHFEPKZXEQEFSNKK7Z%26xs%3D1%26xtz%3D-60%26xuuid%3D82956b11f2f06199797679556a119df5%26xcust%3Dxid%253Afr1594301381238cfh%26xjsf%3Dother_click__contextmenu%2520%255B2%255D&amp;postSource=bi%7C5f05d8624dca682276573206&amp;sessionid=1620213781898bvhiq5nq&amp;type=ALREADY-AFFILIATE-LINK-NOT-AMAZON&amp;u=https%3A%2F%2Fgo.skimresources.com%2F%3Fid%3D35871X943606%26isjs%3D1%26jv%3D14.1.5-stackpath%26sref%3Dhttps%253A%252F%252Fwww.businessinsider.com%252Fboohoo-independent-review-of-supply-chain-following-exploitation-claims-2020-7%26url%3Dhttps%253A%252F%252Fwww.thetimes.co.uk%252Farticle%252Fboohoos-sweatshop-suppliers-they-only-exploit-us-they-make-huge-profits-and-pay-us-peanuts-lwj7d8fg2%26xguid%3D01E4ZMKGBHFEPKZXEQEFSNKK7Z%26xs%3D1%26xtz%3D-60%26xuuid%3D82956b11f2f06199797679556a119df5%26xcust%3Dxid%253Afr1594301381238cfh%26xjsf%3Dother_click__contextmenu%2520%255B2%255D&amp;xcust=xid:fr1620213794098ggid:fr1620213794098ggi">Sunday Times investigation</a>, which led to UK authorities launching a modern slavery investigation and several of its <a href="https://www.businessinsider.com/amazon-asos-zalando-and-next-drop-boohoo-over-illegal-wage-claims-2020-7">retail partners dropping the company</a>, may have hit Boohoo's share price but didn't make a dent in its sales, Salter said.</p><p>Still, it will not be "plain sailing ahead," she said. The company still has to work to do to woo back investors and "prove its commitment to its actions."</p>

Fast-fashion giant Boohoo unscathed by COVID-19 crisis and modern slavery allegations as sales surge in 2020, analysts say

<p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Mobile phones may have just helped save online fashion retailer Boohoo.com's skin after traffic from the devices <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/trading-update/201503110700130827H">boosted revenue </a></span><span style="line-height: 1.5em;"><a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/trading-update/201503110700130827H">for the two months to 28 February 2015</a>.</span></p><p>Boohoo, which issued a profit warning at the beginning of the year, said in a trading update that m<span style="line-height: 1.5em;">obile traffic now represents almost half of all sessions and daily unique visitors to its website. It said that</span><span style="line-height: 1.5em;"> <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/trading-update/201503110700130827H/">mobile conversion improved by over 40% in the last quarter</a>.</span></p><p><span style="line-height: 1.5em;">The group, which targets 16-24 year old consumers, said revenue jumped 22% over the two months to 28 February while overall active customers for the year is now 29% up at 3 million.</span></p><p><span style="line-height: 1.5em;">"We continue to build our business for the long term, as we stated at our IPO last year, and our clear objective is to deliver sustainable growth," <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/trading-update/201503110700130827H/">said joint CEOs Mahmud Kamani and Carol Kane</a>. "We remain absolutely focused on execution and are increasing our marketing spend in FY16 to drive momentum in the business."</span></p><p><span style="line-height: 1.5em;">Boohoo is under pressure to increase its customer base, expand and boost revenues after it issued a profit warning in January this year. It only launched an IPO in March 2014.</span></p><p>"Whilst the period proved a challenging trading environment, we have still grown the business by 25%, albeit short of our previous expectations," said Boohoo's joint CEOs Mahmud Kamani and Carol Kane in a statement at the time.</p><p>The Boohoo stock price has had a rough ride since it listed on London's mid-cap market AIM. It floated at 50p, soared to 85p on its first day of trading and is trading now 66% lower to date at 25.20p.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/largest-ice-glacier-calving-filmed-2015-1">This Video Of The Largest Breakage Of Ice From A Glacier Ever Filmed Is Absolutely Frightening</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NqbHJucjpzcqR3obKs3FqeMQRi8yolxr" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Mobile sales helped boost Boohoo revenue 22% over the last two months

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>LONDON - British online fashion retailer Boohoo.com is bidding $20 million (£16.3 million) for the brand and customer list of bankrupt US clothing brand Nasty Gal.<p>Founded in 2006 in Los Angeles, Nasty Gal began as an eBay shop for vintage clothing. It specialises in fashion for young women, marketing itself as an edgy brand indicative of LA's carefree attitude.</p><p>Nasty Gal's founder, Sophia Amoruso, has become a business icon in America, writing the New York Times best-selling book #Girlboss, which is being turned into a Netflix series. Amoruso has <a href="http://uk.businessinsider.com/sophia-amoruso-steps-down-nasty-gal-ceo-2015-1">stepped back from the business in recent years.</a></p><p>Despite strong early growth and popularity, venture capital-backed Nasty Girl has struggled in recent years. It had revenues of $77.1 million (£62.8 million) in the year to February 1, according to Boohoo, but made a loss of $21 million (£17.1 million) in the same financial year. <a href="http://uk.businessinsider.com/sophia-amoruso-hands-over-ceo-title-2016-11">It filed for bankruptcy protection in early November.</a></p><p>Industry blog the Business of Fashion suggested the company's demise was driven by <a href="https://www.businessoffashion.com/articles/intelligence/nasty-gal-what-went-wrong">over-ambitious investment in infrastructure such as warehouses and high fixed costs.</a> Nasty Gal raised $65 million (£52.9 million) in total, with $49 million (£39.9 million) coming from well-known European VC house Index Ventures.</p><p>Boohoo <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/proposed-acquisition/201612280700148317S/">said in a statement to the market on Wednesday</a> that Nasty Gal is "a bold and distinctive brand for fashion-forward, free-thinking young women which the Board believes would complement boohoo's own inclusive and inspirational brand." Boohoo says it hopes the deal will accelerate its international expansion, particularly in the US.</p><p>Boohoo.com was founded in Manchester in 2006, the same year as Nasty Gal, and offers own-brand "fast fashion" - cheap and trendy - to millennials online.</p><p>The deal is subject to US bankruptcy proceedings and requires court approval, which Boohoo.com said it will seek on January 5.</p><p>Boohoo.com joint CEOs Mahmud Kamani and Carol Kane <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/proposed-acquisition/201612280700148317S/">said in a statement:</a> "Should we be successful in acquiring Nasty Gal it would represent a fantastic opportunity to add such a well-established, global brand to the Boohoo family.</p><p>"Following our recent acquisition of PrettyLittleThing.com, we believe this would represent an ideal next step in inspiring an ever-growing range of young customers internationally."</p><p>&#xa0;</p><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/michael-lewis-wall-street-change-liars-poker-2016-12">MICHAEL LEWIS: The biggest way Wall Street culture has changed since 'Liar's Poker'</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8wdjVjODE6MkOHMQxihgcOG-j5umumOz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Boohoo.com is bidding $20 million for bankrupt US millennial fashion brand Nasty Gal

<p class="lu"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters</span></p></div><p></p></div></div>Boohoo.com, the online clothing retailer, had a very happy end to 2015.</p><p class="lu"><a href="http://www.investegate.co.uk/boohoo-com-plc/rns/trading-update/201601120700075087L/">In a trading statement released on Tuesday morning</a>, the company said that in the four months to the end of 2015 it grew revenues by a massive 45%, and has completely smashed any expectations for the company's performance.</p><p class="lu">Total revenues are now at £73.7 million ($107 million), up from £50.8 million ($73.8 million) over the same period last year. </p><p class="lu">Forecasts had put Boohoo's revenue growth at an expected 31%, but the real number is far more impressive, and reflects what the company calls "increased order frequency" and "lower customer acquisition costs".</p><p class="lu">Essentially, it is getting customers to buy more stuff, and having to spend less to bring in new ones, a pretty handy combination.</p><p class="lu">Boohoo's stellar Christmas period sent shares in the AIM listed company soaring, jumping by nearly 5% at the open. As of 8:15 a.m. GMT (3:15 a.m. ET) the company's stock is up 5.5%.</p><p class="lu">The end of 2015 couldn't have been more different to the previous one for Boohoo. <span> Shares tanked more than 40% after last year's January trading update, which reported that the group's rate of sales growth had more than halved. </span><span>This was blamed on unseasonably warm weather, big price cuts across the industry, and problems with delivering goods.</span></p><p class="lu">Along with the company's massive boost in <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> revenues, other highlights in the company's trading statement included:</p><ul><li><span style="line-height: 1.5em;">Revenues in the rest of Europe up 33%, and 52% in the rest of the world.</span></li><li>Retail gross margin fell to 57.0% from 59.1% a year earlier. The company blamed this on investing in the customer experience, and in keeping prices low. </li><li>Overall, gross margin 55.7% thanks to growth in third party sales.</li><li>3.9m active customers, up 33% on prior year.</li><li>£58.7m cash on balance sheet.</li></ul><p>Boohoo's stellar Christmas has also allowed them to increase their expectations for the full year. In a statement released by joint CEOs Mahmud Kamani and Carol Kane said (emphasis ours):</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/volkswagen-brand-chief-apology-ces-scandal-vw-herbert-diess-2016-1">Volkswagen's brand chief gave an extended apology before their CES keynote</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Z2OTcxMDE6jEOoKMTCYmvKW9Pm28yMpX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

You Searched For "mahmud kamani" and got 5 results

Inside the lavish lives of the billionaire family behind Boohoo, the fast-fashion giant called out in an investigation into workers being paid just $4 an hour at suppliers' factories

Mary Hanbury

Fast-fashion giant Boohoo unscathed by COVID-19 crisis and modern slavery allegations as sales surge in 2020, analysts say

Mary Hanbury

Mobile sales helped boost Boohoo revenue 22% over the last two months

Lianna Brinded

Boohoo.com is bidding $20 million for bankrupt US millennial fashion brand Nasty Gal

Oscar Williams-Grut

Online retailer Boohoo smashed expectations and now shares are surging.

Will Martin

Popular Keywords

Buying Guides