Boohoo appoints deputy chairman after record revenues
Boohoo has appointed Brian Small as deputy chairman after reporting record revenues.
Small is an existing independent non-executive director at the Manchester-headquartered fast fashion giant and currently serves as chair of the listed group’s audit committee.
He will continue to perform these duties until the financial accounts for FY 2019/20 are finalised and published and a replacement has been appointed.
Small previously served for 15 years as CFO of JD Sports and held various executive positions at businesses including Intercare Group, Knightlow Group, and Barr and Wallace Arnold Trust.
His other non-executive positions include Pendragon plc and Mothercare PLC, where he also holds the position of audit chair.
“Brian has been an important asset to the board since his appointment in 2019 and we are delighted that someone with the depth of his board experience is to fulfil the role of deputy chairman,” said executive chairman Mahmud Kamani.
Meanwhile Boohoo reported overall revenue growth of 44 per cent for the four months to December 31st.
This included £232.6 million at boohoo, £190.8m at PrettyLittleThing and £41.5m at Nasty Gal.
Group revenue growth for the financial year to 29th February 2020 is expected to be 40-42 per cent, ahead of the firm’s previous guidance of 33-38 per cent.
John Lyttle, CEO, commented: “I am delighted to report the group has enjoyed record trading in the last four months of 2019.
“All of our brands have performed exceptionally well and delivered strong market share gains. We have continued to see operating leverage in our more established brands, and will continue to invest into them and our newly-acquired brands.
“The newly-acquired brands, MissPap, Karen Millen and Coast, are showing great promise and open different target markets for the group, in line with our strategy to build our multi-brand platform.”