A US investment firm has acquired a 10% stake in Boohoo.
The American investment company T Rowe Price is now the third-largest shareholder in Boohoo.
According to Boohoo’s website, Jupiter Fund Management holds the second largest number of shares, and co-founder Mahmud Kamani comes in first place.
T Rowe Price already holds more than 11% stake in Boohoo’s fast fashion rival Asos.
The acquisition is a vote of confidence in both online fashion businesses which emerged as lockdown winners over the past year.
The news comes after Boohoo announced plans to create 5,000 new jobs over the next five years as it continues its “incredible growth”.
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