85
Fashion Jobs
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
ON RUNNING
Head of Footwear Sourcing
Permanent · HO CHI MINH CITY
Published
Aug 31, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Boohoo gets major new shareholder as investor takes 10% stake

Published
Aug 31, 2021

A US investment giant, T Rowe Price, is now the third-largest shareholder in Boohoo Group having acquired a 10% stake in the fast-fashion giant.


Reuters



The largest shareholder in the company is founder Mahmud Abdullah Kamani with Jupiter Fund Management its second biggest.

Interestingly, T Rowe Price also holds a big stake in Boohoo’s rival ASOS with an 11% holding (behind only Bestseller, which is ASOS’s biggest stakeholder). The American company clearly sees a bright future for online mass-market fashion in the UK and beyond.

The stake purchase is a vote of confidence in Boohoo that has seen its shares proving very volatile in the past year. After understandably dropping as a result of the pandemic-linked stock market crash in March 2020, they were riding high at more than £4 each by June last year. But the summer saw a series of revelations about poor supply chain practices and the shares have been on a roller-coaster ride ever since. They peaked at close to £4 in October then plunged to a low of £2.54 in November, and they’ve been weak again this summer.

That may not affect the day to day running of the company, but executive bonuses are closely linked to the share price so the top team will clearly want to push the share price higher. 

The arrival of T Rowe Price could help the process, but regardless of that, it suggests that the savvy investment firm believes the current share price is way too low given Boohoo’s prospects and that it wanted to buy a stake while it was still cheap.

Copyright © 2024 FashionNetwork.com All rights reserved.