The sports category has moved to a new website.

Private jets, parties with Khloe Kardashian, and $1 million weddings: Inside the lavish lives of a billionaire fast-fashion dynasty

Boohoo is the UK's fast-growing fast-fashion retailer that was set up in 2006 by Mahmud Kamani and his business partner Carol Kane.

Samir Kamani

The rise of the Kamani family is frequently described by the British tabloids as one of the UK's great "rags to riches" tales.

Mahmud Kamani, the patriarch of the family, is the 55-year-old billionaire behind Boohoo, which for the uninitiated, is the UK's buzzy fast fashion clothing company that has achieved explosive growth in the past few years and is considered to be one of the few retailers to have dodged the retail doom and gloom.

Kamani, who is now one of the most successful entrepreneurs in the country and has worked his way up the UK's rich list to be worth nearly $1.5 billion , started his career by selling cheap clothes to market stallholders and high-street brands in the UK (including H&M and Primark).

ADVERTISEMENT

He went on to set up Boohoo with cofounder and designer Carol Kane in 2006, with the idea of cutting out the middle man and selling directly to customers online.

From the start, Boohoo's business model was based around being ultra-fast and ultra-cheap; around 3,000 new styles are added each week across its core brands with an average price point that sits between $17 and $20.

Since going public in 2014, the company has grown to include a host of other brands including PrettyLittleThing, Nasty Gal, and most recently, Coast and Karen Millen, and under the umbrella of Boohoo Group Plc is valued at more than $3.8 billion .

Group sales have nearly tripled in the past two years, hitting 856.9 million ($1 billion) for the fiscal year ending in February, and the company now has its sights firmly set on becoming a global brand with equivalent status to Zara or H&M .

Here's everything we know about the family behind this growing empire:

ADVERTISEMENT

Boohoo

Kamani stepped down as co-CEO to become group executive chairman of the company earlier this year, which according to The Times has only enhanced his power at the company.

Cofounder Carol Kane also stepped down as co-CEO to become creative director.

ADVERTISEMENT

Aaron J. Thornton/Getty Images

ADVERTISEMENT

Photo by Kevork S. Djansezian/Getty Images

ADVERTISEMENT

Photo by Cindy Ord/Getty Images for NYFW: The Shows

Photo by Matt Winkelmeyer/Getty Images

ADVERTISEMENT

Linkedin

He runs Kamani Property Group, which specializes in commercial and residential real estate alongside KM Capital, a Manchester-based seed fund, that's run as a private limited company. Adam stayed on a director of PrettyLittleThing up until 2017.

ADVERTISEMENT
ADVERTISEMENT

The wedding was reported to have cost $1 million and was attended by multiple British reality TV stars and TV celebrities.

ADVERTISEMENT

The pair go skiing in Whistler and made trips to Dubai, Paris, Ibiza, and the Maldives.

Photo by Presley Ann/Getty Images

ADVERTISEMENT

Boohoo took a majority stake in the company in 2017.

Photo by Sean Drakes/Getty Images

Its revenues grew $480 million in the fiscal year ending in February, which translates as a 107% increase from the previous year.

ADVERTISEMENT

Source: Reuters

ADVERTISEMENT

Photo by Craig Barritt/Getty Images for boohoo

Photo by Matt Winkelmeyer/Getty Images

"It's very easy to form an ego and get distracted by fame. I've nearly fallen into these traps myself but my number one desire is for this brand to blossom. It could become one of the biggest brands of all time, ever. I feel the hunger more than ever," he added.

ADVERTISEMENT

Photo by Sean Drakes/Getty Images

"I get asked all the time: 'Do you want to be famous?' because I dress a certain way and I'm [moving] in certain circles," he told The Guardian's Zoe Wood earlier this year. "If I wanted to be famous it would be very easy for me to do that but I want to be respected for what I do."

ADVERTISEMENT

Photo by Aaron J. Thornton/Getty Images

ADVERTISEMENT

Photo by David M. Benett/Dave Benett/Getty Images for Nasty Gal

Photo by Dana Pleasant/Getty Images for boohoo.com

ADVERTISEMENT

Source: Daily Mail

ADVERTISEMENT
ADVERTISEMENT

"Some people like golf, others like football. I like work. People need a sense of self-worth and work provides that. Work is good for your soul,' Mahmud Kamani previously told The Mail on Sunday .

See Also:

SEE ALSO: The people behind a weird fake village that's hugely popular with Chinese shoppers are bringing the concept to New York

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

African countries with the highest divorce rate

African countries with the highest divorce rate

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

ADVERTISEMENT