The wealth of the founder one of the UK’s biggest fashion retailers, Boohoo, has plummeted a staggering half a billion pounds in just two years and the company’s stock has become the most shorted in the UK in the latest blow for the firm as it deals with a downturn in sales and a greenwashing investigation by the UK competition watchdog.
Mahmud Kamani, the British retail tycoon who founded Boohoo in 2006, has seen the value of his share in the business shrink to just £60 million from a high of over £570 million in 2020, an Evening Standard analysis found. The firm’s market cap fell below £500 million this week, a drop of over 90% from its June 2020 high of over £5 billion. Kamani controls a 12% stake in the firm, according to Refinitiv data.
