However, the change in the company’s ownership structure will result in a number of family members leaving the business. At a time when high street fashion sales are transferring online, investors are are excited about the growth prospects of fashion websites such as Boohoo that appeal to phone-addicted millennial shoppers. Within that, online sales were up 118% while its stores and concessions delivered like-for-like sales growth of 16%. The City was impressed by the recent appointment of JD Sports Fashion boss Peter Cowgill as non-executive chairman. After the listing, the family will still own 48.7% of the company but have committed not to sell any more shares for a year.

Source: The Guardian July 20, 2017 17:24 UTC