Boohoo.com prepares for £500m float

Online fashion retailer Boohoo.com is expected to enter the stock exchange in a £500million float within the next fortnight.

The Manchester-based business, which reported a £3.2million profit on £67m turnover for the year ending February 2013, will start selling shares to the public in March this year.

It is believed that the company is majority owned by four siblings of founder Mahmud Kamani, who launched Boohoo.com in 2006 with business partner Carol Kane.

The retailer sells its own brand of “trend-led clothing” to “fashion forward females” worldwide. It has won several industry accolades including the 2012 Lorraine High Street Fashion Awards, beating established brands such as Next and ASOS in the Best Online Retailer category.

The company – which stocks over 8,000 products – said that it has a unique supply chain which means that new fashions can go from design to delivery “in a matter of weeks”.

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