Umar Kamani is to step down as CEO of PrettyLittleThing 12 years after founding the company with brother Adam.
The fast fashion retailer has grown to a £700 million revenue business with a valuation of £3.8 billion thanks to a strategy of celebrity endorsement from the likes of the Kardashians.
Umar Kamani sold his 34% stake in PLT to father Mahmud Kamani, CEO of Boohoo, in 2020 for £330m.
Adam Kamani, CEO of Kamani Property Group, remains a director of PLT.
“After 12 years as CEO and founder of PrettyLittleThing I have made the difficult decision to step down from my position as CEO. 12 amazing years that changed my life and I will be forever grateful for all those memories,” Umar Kamani tweeted.
“I’m at the stage in my life where I need to set myself new challenges and goals and build new brands that hopefully you all love and support as much as you did with this one.
“When I first had the idea of setting up this brand, I could never have imagined what we would go on to achieve.
“If you know me, you’ll know Disneyland and all the magic surrounding it has always been one of my biggest inspirations. This is what I wanted to create with PrettyLittleThing, a fairytale-like world where unicorns exist, and anything is possible. A place you come to find confidence and inspiration when it comes to what you wear and how you feel.
“Whatever success we have achieved is down to you, our loyal customers who have shopped with us, supported us and watched us grow into something beyond what I could have ever dreamed of.
“I was 24 when I started this brand and today at 35 years old I’m so proud, grateful and excited to go on my next journey. I will of course continue supporting PrettyLittleThing on some projects over the next few months while we find our new CEO.
“Here’s to the future, creating more magic and fairytales. To each and every person who has played any part in the PLT movie, thank you from the bottom of my heart.”