BRITISH Asian fashion tycoon Mahmud Kamani's Boohoo has boosted its sales as the online fashion retailer recorded a near 50 per cent jump in annual group sales to £866 million.
Boohoo’s pre-tax profits were up 38 per cent at £59.9m in the year which ended in February, after the company’s “fashion for all” approach supported its sales growth.
To drive its online sales and attract young shoppers to its web portal, Boohoo last year spent about £80m on celebrity endorsements and other marketing strategies.
In a bid to drive its sales, the business joined its hands with actress Jennifer Lopez, model Ashley Graham, football player Dele Alli.
The business successfully attracted young British customers through Instagram and other social media channels.
The group’s PrettyLittleThing (PLT) and Nasty Gal brands also recorded a sales growth of 107 per cent and 96 per cent respectively, after a strong social media campaign led by the celebrities.
PrettyLittleThing, with 10.6 million Instagram followers, was expected to usurp its sister brand Boohoo in sales terms this year. The brand’s sales more than doubled to £374m last year.
Boohoo said it would continue to move ahead with its social media strategy when its rivals struggling to push their sales with outdated business strategies amid slowing retail market conditions.
Boohoo co-founder Carol Kane said: "Our collaborations with celebrities must be successful because you see it in the numbers."
About 50 per cent of Boohoo's products were produced in the UK.
The business has also introduced a fashion recycling initiative to its customers to promote them to wear outfits more than once.
Understanding the scope of online retail business fashion entrepreneur Mahmud Kamani and Carol Kane started Boohoo in 2006. It turned into a multi-million pounds business within a decade.