Good business sense must run in the family.
Umar Kamani, founder of British e-tailer PrettyLittleThing and son of Boohoo.com co-founder Mahmud Kamani, recently revealed that he expects the site’s full-year sales to skyrocket 500 percent to 30 million pounds (about $45.1 million).
By comparison, the site generated 5 million pounds ($7.5 million) in revenue last year.
Since its launch in 2012, PrettyLittleThing has experienced triple-digit sales growth year-on-year by tapping into celebrity trends and offering up-to-the-minute styles at affordable prices. For instance, the site’s holiday party shop section is currently hawking two Kylie Jenner-esque dresses—a black bandage cut-out mini style and a side-slit maxi—for 25 pounds each (about $38).
In an interview with the Manchester Evening News last April, Kumani said, “We’re quite reactive; we’re faster than fast fashion. If I wanted to sell the dress you’ve got on right now, I could have that designed, photographed [and] up and ready on the site within three days.”
That’s because 80 percent of the company’s merchandise is made in the U.K. and plans are in the pipeline to up that number.
His father’s online store, Boohoo, isn’t doing too badly either. It floated on the London Stock Exchange in March 2014 and is valued at 376 million pounds ($565.7 million). In September, the e-tailer posted a 35 percent increase in revenue for the first six months of the year, up from 67.2 million pounds ($101.1 million) to 90.8 million pounds ($136.6 million).