Boohoo Group has announced a new CEO from rival Primark with current co-CEO Carol Kane set to stand down as part of a board re-alignment. But Kane will remain heavily involved with company and will take on a new role.
TV show Love Island has fuelled a shopping boom this summer, proving a bright spot for both fashion and beauty as its official sponsor brands and others rode the wave of the overtly sexy style favoured by contestants.
If further proof were needed that e-tail is the way forward for mass-market fashion, Boohoo.com's Q1 trading update onTuesday provided it. Total group revenue surged by 53% and PrettyLittleThing in particular excelled.
Boohoo.com went from strength to strength last year as sales doubled and profits surged. And its short-term aim of being a £1bn op is dwarfed by its longer-term goal of leading the e-tail market with £3bn in sales.