Mahmud Kamani
{{Short description|British businessman}}
{{Use dmy dates|date=May 2017}}
{{Infobox person
| name = Mahmud Kamani
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| birth_name = Mahmud Abdullah Kamani
| birth_date = {{birth year and age|1964|08}}
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| nationality = British
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| occupation = Businessman
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| known for = Chairman, Boohoo Group plc
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| children = 3, including Umar Kamani and Adam Kamani
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Mahmud Abdullah Kamani (born August 1964) is a British businessman. He is co-founder and executive chairman of Boohoo Group. He lives in Mottram St Andrew, Cheshire.{{Cite web |last=Whelan |first=Zara |date=2020-07-27 |title=Boohoo owner in council row over super-sized gates at Cheshire mansion |url=https://www.cheshire-live.co.uk/news/chester-cheshire-news/boohoo-owner-council-row-over-18669503 |access-date=2025-06-17 |website=Cheshire Live |language=en}}
Early life
His father Abdullah Kamani is from Gujarat, India; settled in Kenya, but left in the 1960s due to unrest and moved to north-west England with his wife and three children.{{Cite web|title=The lavish life of the Boohoo billionaires|url=https://www.nzherald.co.nz/business/the-lavish-life-of-the-boohoo-billionaires/OIUJO6UU3Q7VLF2KYU46E5OOII/|access-date=2021-05-05|website=The New Zealand Herald |date=24 July 2017 |language=en-NZ}}{{cite news|author=Zoe Wood |url=https://www.theguardian.com/business/2014/jun/22/boohoo-not-fashion-sob-story |title=Boohoo determined not to be another fashion sob story | Business |work=The Guardian |date= 21 June 2014|accessdate=15 May 2017}} Abdullah started by selling handbags at a market stall, before starting a family textile business, supplying New Look and Primark.
Career
In 2013, Kamani was awarded ‘Entrepreneur of the Year’ at the English Asian Business Awards.{{Cite news|url=https://www.manchestereveningnews.co.uk/business/business-news/boohoo-founder-recognised-english-asian-6115081|title=Boohoo founder recognised at national awards|last=Begum|first=Shelina|date=2013-10-01|work=men|access-date=2018-06-25}} In 2015 he was honoured at the Legends of Industry Awards.{{Cite news|url=https://www.variety.org.uk/news/2015/11/legends-industry-awards-2015|title=Legends of Industry Awards 2015|date=2015-11-20|work=Variety, the Children's Charity|access-date=2018-06-25|language=en}}
In April 2017, Boohoo announced that its profits had almost doubled to £31 million on sales up by 51% to almost £300 million.{{cite web|url=https://www.bbc.co.uk/news/business-39697246 |title=Boohoo online fashion retailer sees its profits double - BBC News |publisher=Bbc.co.uk |date=26 April 2017 |accessdate=15 May 2017}} When the company was floated on the stock market in 2014, it was valued at £560 million, and is worth about £3.54 billion as of July 2021. In June 2017, Kamani sold a total of 36.6 million shares together with his siblings, Nurez and Rabia. He sold over £80 million worth of Boohoo shares and raised an additional £50 million by placing 22.7 million new shares. The funds raised are earmarked for the development of a “supersite” warehouse.{{Cite web|url=https://www.theguardian.com/business/2017/jun/08/boohoo-co-founder-sells-shares-online-fashion-chain-mahmud-kamani|title=Boohoo co-founder sells £80m in shares as he reveals 'supersite' plan|last=Monaghan|first=Angela|date=2017-06-09|website=The Guardian |language=en|access-date=2018-06-25}}{{Cite news|url=https://www.manchestereveningnews.co.uk/business/business-news/boohoo-raises-50m-fund-new-13154395|title=Shares soar as Boohoo raises £50m to fund new 'super' warehouse|last=Begum|first=Shelina|date=2017-06-08|work=men|access-date=2018-06-25}}{{Cite news|url=https://www.ft.com/content/ecd84fd6-4c39-11e7-919a-1e14ce4af89b|title=Boohoo bounces after raising £50m and upgrading sales forecast|website=Financial Times|date=8 June 2017 |language=en-GB|access-date=2018-06-25 |last1=Pooley |first1=Cat Rutter }}
In April 2018, Boohoo shares recovered after brand PrettyLittleThing doubled sales. Boohoo owns 66% of the brand.{{Cite news|url=http://www.cityam.com/284645/boohoo-sales-nearly-double-after-exceptional-performance|title=Boohoo shares soar after sales nearly double on "exceptional" performance|last=Smith|first=Rebecca|date=2018-04-25|access-date=2018-06-25|language=en}}
In February 2021, Boohoo has bought Arcadia brands Dorothy Perkins, Wallis and Burton out of administration for £25.2 million. Boohoo has bought the brands' e-commerce and digital assets and associated intellectual property rights.{{Cite web|date=2021-02-08|title=Boohoo buys Arcadia brands Dorothy Perkins, Wallis and Burton for £25m|url=https://www.cityam.com/boohoo-buys-arcadia-brands-dorothy-perkins-wallis-and-burton-for-25m/|access-date=2021-02-18|website=CityAM|language=en-GB}}
Personal life
Mahmud Kamani and his wife Aisha have three sons. Two of them, Umar Kamani and Adam Kamani, who co-founded PrettyLittleThing, are active in the family business.{{Cite news|url=https://www.news.com.au/finance/business/retail/meet-the-boohoo-billionaires-who-turned-a-market-stall-into-a-44-billion-fashion-empire/news-story/3c2b09be2deedcf0c62bea8402f52da5|title=Boohoo's billionaire founders have little to cry about|work=NewsComAu|access-date=2018-06-25}}
His brother Jalal Kamani is the former trading director of Boohoo.{{cite web|last=Dennys |first=Harriet |url=https://www.telegraph.co.uk/finance/comment/citydiary/10984056/City-Diary-No-tears-as-Boohoo.com-keeps-it-in-the-family.html |title=City Diary: No tears as Boohoo.com keeps it in the family |publisher=Telegraph |date= |accessdate=15 May 2017}}
Mahmud Kamani retains his connection to Kenya by supporting Kibera Kids, a Nairobi-based non-profit organization.{{Cite web|url=http://www.kiberakids.org/about-us/key-partnerships/|title=Key Partnerships {{!}} Kibera Kids {{!}} 0161 817 5020|website=www.kiberakids.org|language=en-US|access-date=2018-06-25}}
In July 2020, allegations were made about the I Saw It First fashion brand and Morefray Ltd, a supply company to Boohoo, of paying less than the minimum wage and failing to protect staff from coronavirus during the pandemic. The company is owned by Jalal Kamani, who jointly founded Boohoo with his brother Mahmud.{{Cite news|url=https://www.theguardian.com/business/2020/jul/10/boohoo-co-founder-jalal-kamani-linked-to-leicester-garment-factory|title=Boohoo co-founder Jalal Kamani linked to Leicester garment factory|first=Rob|last=Davies|newspaper=The Guardian |date=10 July 2020|via=www.theguardian.com}}
References
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Category:British businesspeople of Indian descent
Category:British people of Indian descent
Category:British people of Gujarati descent