After 12 years at the helm of PrettyLittleThing, CEO and founder Umar Kamani has decided to step down from his position. The Manchester-based fast-fashion retailer, which targets women aged 16-41, has grown exponentially since its inception in January 2012. Co-founded by brothers Umar and Adam Kamani, the brand quickly gained popularity among celebrities such as Miley Cyrus, Michelle Keegan, Rita Ora, Jessie J, Ryan Thomas, and Nicki Minaj.
Umar Kamani revealed that he would be stepping down to pursue new challenges and launch new brands. He expressed gratitude for the memories and experiences gained during his tenure as CEO and acknowledged the hard work and resilience of his team. Kamani will continue to support PrettyLittleThing on some projects while the company searches for a new CEO.
Business analysts may wonder why it took so long for Kamani to step down, given the brand’s rapid growth in sales and brand reputation over the past years. One possible explanation is that he wanted to ensure the company was well-established and stable before moving on to new ventures. Under his leadership, PrettyLittleThing has become one of the biggest fashion brands globally, collaborating with high-profile celebrities like Kourtney Kardashian and Hailey Bieber.
Another reason could be that Kamani wanted to see through the acquisition of the remaining 34% minority stake in PrettyLittleThing by Boohoo in May 2020, for £269.8 million. This deal solidified the brand’s position within the Boohoo Group and increased its estimated worth to £3.8 billion.
Umar Kamani’s decision to step down as CEO of PrettyLittleThing after 12 years may have been influenced by a combination of factors, including the brand’s stability, growth, and integration into the Boohoo Group.