×
75 279
Fashion Jobs
GAP
Assistant Manager, Customer Operations - Los Cerritos Center
Permanent · Cerritos
MACY'S
sr. Manager, Maintenance
Permanent · North Jackson
MACY'S
Asset Protection Detective, Security Square - Full Time
Permanent · Baltimore
MACY'S
Asset Protection Security Guard, Southland - Standard Part Time
Permanent · Cutler Bay
MACY'S
sr. Manager, Sales And Customer Experience
Permanent · Boston
MACY'S
Asset Protection Officer, Secaucus D2C fj - Full Time (2840)
Permanent · Secaucus
MACY'S
Manager, Style Merchandise Execution
Permanent · West Orange
MACY'S
Manager, Merchandise Execution
Permanent · Chicago
MARC JACOB'S
Sales Supervisor
Permanent · Scottsdale
OLD NAVY
Assistant Manager, Customer Operations - Outlets of Little Rock
Permanent · Little Rock
OLD NAVY
General Manager - The Columns
Permanent · Jackson
OLD NAVY
Assistant General Manager, Merchandising - Northwest Promenade
Permanent · Bakersfield
ESTEE LAUDER
Senior Project Manager
Permanent · Queens
MICHAEL KORS
Part Time Sales Supervisor, Jeffersonville Ohio
Permanent · Jeffersonville
ASCENA
g1614 - General Manager-Ann
Permanent · New York
ASCENA
ft Assistant Manager @ Ann Taylor: Town & Country Village
Permanent · Houston
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Columbus
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Marysville
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Louisville
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · Sunset Valley
KOHLS
Full-Time Loss Prevention Officer
Permanent · Sacramento
KOHLS
Loss Prevention Manager - Oxmoor, ky
Permanent · Louisville
Published
Aug 31, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Boohoo gets major new shareholder as investor takes 10% stake

Published
Aug 31, 2021

A US investment giant, T Rowe Price, is now the third-largest shareholder in Boohoo Group having acquired a 10% stake in the fast-fashion giant.


Reuters



The largest shareholder in the company is founder Mahmud Abdullah Kamani with Jupiter Fund Management its second biggest.

Interestingly, T Rowe Price also holds a big stake in Boohoo’s rival ASOS with an 11% holding (behind only Bestseller, which is ASOS’s biggest stakeholder). The American company clearly sees a bright future for online mass-market fashion in the UK and beyond.

The stake purchase is a vote of confidence in Boohoo that has seen its shares proving very volatile in the past year. After understandably dropping as a result of the pandemic-linked stock market crash in March 2020, they were riding high at more than £4 each by June last year. But the summer saw a series of revelations about poor supply chain practices and the shares have been on a roller-coaster ride ever since. They peaked at close to £4 in October then plunged to a low of £2.54 in November, and they’ve been weak again this summer.

That may not affect the day to day running of the company, but executive bonuses are closely linked to the share price so the top team will clearly want to push the share price higher. 

The arrival of T Rowe Price could help the process, but regardless of that, it suggests that the savvy investment firm believes the current share price is way too low given Boohoo’s prospects and that it wanted to buy a stake while it was still cheap.

Copyright © 2022 FashionNetwork.com All rights reserved.