Boohoo shares bounce back after co-founders plough £15m into brand

Carol Kane and Mahmud Kamani, co-founders, Boohoo

The co-founders of fast-fashion giant Boohoo have bought another £15m worth of shares in a bid to stop the share price from falling any further.

Mahmud Kamani ploughed £10.7m into 5 million shares, while Carol Kane spent £4.3m on Boohoo stock on Thursday, in an attempt to rebuild confidence in the embattled business following the allegations of malpractice in its textile supply chain.

The joint efforts of Kamani and Kane appeared to have succeeded, with Boohoo’s share price rising 12%, having seen a near 50% collapse since allegations of issues in a Leicester supplier’s factory first appeared in The Sunday Times.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.