PrettyLittleThing CEO Umar Kamani steps down after 12 years
Kamani, who set up the fashion firm with his brother in 2012, took to social media on Sunday to announce his decision. He also revealed that now he plans to pursue “new challenges� with the potential to “build new brands�.
PrettyLittleThing Founder Umar Kamani has stepped down from his role as CEO at the online fashion giant after 12 years.
Kamani, who set up the fashion firm with his brother in 2012, took to social media on Sunday to announce his decision. He also revealed that now he plans to pursue “new challenges” with the potential to “build new brands”.
“After 12 years as CEO and founder of PrettyLittleThing I have made the difficult decision to step down from my position,” Kamani wrote. “12 amazing years that changed my life and I will be forever grateful for all those memories. I’m at the stage in my life where I need to set myself new challenges and goals and build new brands that hopefully you all love and support as much as you did with this one.”
After 12 years as CEO and Founder of PrettyLittleThing I have made the difficult decision to step down from my position as CEO. 12 amazing years that changed my life and I will be forever grateful for all those memories. I’m at the stage in my life where I need to set myself new… pic.twitter.com/j2cpoBfkbp
He further added, “When I first had the idea of setting up this brand, I could never have imagined what we would go on to achieve. Since our humble beginnings in 2012, PLT has gone on to eventually become one of the biggest fashion brands in the world. If you know me, you’ll know Disneyland and all the magic surrounding it has always been one of my biggest inspirations. This is what I wanted to create with PrettyLittleThing, a fairytale-like world where unicorns exist, and anything is possible. A place where you come to find confidence and inspiration when it comes to what you wear and how you feel. Whatever success we have achieved is down to you, our loyal customers who have shopped with us, supported us, and watched us grow into something beyond what I could have ever dreamed of,” he added.
Kamani said that he would still continue supporting the Boohoo-owned online womenswear retailer on “some projects” while the company searches for a new CEO to fill his post.
A source close to PLT had earlier said, “Umar has been the front and centre of PrettyLittleThing since its conception but now he’s ready for a new challenge. He is leaving a very happy man after achieving extraordinary success and travelling the world, setting up PLT showrooms internationally. Umar is keeping his cards close to his chest and is yet to reveal the details of his new business venture, but it won’t be long until he sets his sights on his next project.”
RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.
At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.
Ambani had first indicated plans in 2019 to list Jio within five years. On Friday, he told shareholders the company is preparing to file for an IPO next year.
Reuters reported in July that Jio decided against launching an IPO in 2025. Analysts at the time valued the company at over $100 billion.
Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. Backed by investors such as Meta, Google and KKR, the business is central to Ambani’s move to diversify Reliance beyond oil and chemicals into retail, consumer and technology. AI and international expansion are now key areas of growth.
Reliance is also investing $8.8 billion in its chemicals business. It expects retail to grow sales by nearly 10 per cent a year on a like-for-like basis and plans to add 2,000–3,000 new stores annually.
“Jio is not being fully valued within Reliance's broader petrochemicals and retail portfolio, and a separate listing would help unlock higher value for the telecom and digital unit,” said Saurabh Parikh, senior analyst at ICRA Ltd.
AI Unit with Meta and Google
Reliance and Meta announced a new AI joint venture with an initial investment of around $100 million. Meta CEO Mark Zuckerberg told the AGM the venture will provide Meta’s open-source AI models to Indian businesses.
Google will partner with Reliance to deploy AI across energy, retail, telecom and financial services. It will also set up a Jamnagar Cloud region dedicated to Reliance, Google CEO Sundar Pichai said at the meeting.
The partnerships come as India-US relations face tensions following US President Donald Trump’s decision to impose 50 per cent tariffs on Indian exports in response to India’s purchase of Russian oil.
Reliance runs the world’s largest refining complex in Gujarat and is India’s biggest buyer of Russian oil.
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Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)
THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.
Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.
Describing the programme, he said it might be “the biggest IT systems change, certainly in Europe, maybe ever”. He added: “The cost is material, but largely that is now behind us.”
The supermarket acknowledged that the switchover had caused “temporary disruption with product availability” both online and in stores, which would weigh on sales through to September.
Leighton explained: “We’ve been doing 50 stores a week, every week, for 10 weeks. The collective scale of that does cause some friction… so that’s where the impact has been.”
Leighton, who rejoined Asda last November after previously leading the business in the 1990s, has focused on price cuts and improving stock levels. He said he did not expect “any miracles” but stressed that completing the IT work and reducing distractions was “very critical” for the turnaround.
Asda has been pouring money into a Rollbackprogramme of price reductions to compete with Tesco, Sainsbury’s and the fast-growing discount chains Aldi and Lidl. The grocer said its average reduction under the scheme was about 22 per cent.
He also voiced concern about government policy, warning that chancellor Rachel Reeves’s approach could push up prices. “There’s no doubt all of this is hitting the pocket of the consumer. And when that happens, that’s not particularly good for anybody. I think there’s more gloom than we’ve seen for a long time,” he was quoted as saying. He added that Reeves risked driving up food bills by “taxing everything in some way shape or form.”
Sales at Asda fell 0.2 per cent in the three months to June 30, excluding fuel, while turnover edged down to £5.3bn. Earlier in the year, sales had fallen nearly 6 per cent.
Data from research firm Kantar showed the supermarket’s market share dropped further over the summer, with sales down 2.6 per cent. Aldi is now close to overtaking Asda as the UK’s third-largest grocer.
Leighton pointed to other parts of the business as bright spots. George, Asda’s clothing and homeware arm, posted 2.5 per cent like-for-like growth, while its convenience format Asda Express rose 8.6 per cent, outpacing the wider market. “We’re more than just a supermarket,” he said, highlighting its clothing stores, cafés and opticians.
Retail analyst Clive Black of Shore Capital said, “Asda’s Q2 performance is not yet at a stage of putting up the bunting, but we are pleased to see for all those in Leeds the signs of improvement, which we anticipate will now follow through into forthcoming quarters.”
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A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)
UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.
According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.
The SMMT had earlier reported that exports to the US dropped 55.4 per cent in May compared with the same month last year, with smaller falls recorded in April and June.
"The US remains the largest single national market for British built cars, underscoring the importance of the UK-US trade deal, and July's performance illustrates the impact of this deal," the SMMT said.
The agreement, finalised in May and effective from June 30, cut tariffs on UK car exports to 10 per cent on up to 100,000 vehicles a year.
In April, US President Donald Trump had imposed a 27.5 per cent tariff, reducing demand and forcing manufacturers, including Jaguar Land Rover (JLR) and Aston Martin, to scale back or suspend shipments.
Almost 80 per cent of cars made in the UK last year were exported, mainly to the European Union.
The UK auto industry is largely made up of foreign-owned brands such as Japan’s Nissan and India-owned JLR.
The US is also a major market for UK-produced luxury models from Bentley and Rolls-Royce, both owned by German groups.
THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.
Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.
The case was also raised by prime minister Keir Starmer with his Indian counterpart, Narendra Modi, during his recent visit to London for the signing of the India-UK free trade agreement.
“The UK government is committed to seeing Christian Michel’s case resolved as soon as possible,” an FCDO spokesperson said. “We continue to provide consular assistance to Mr Michel and his family and have consistently raised his case with the Indian government.”
British officials at the High Commission in Delhi regularly meet Michel in detention, most recently on August 14.
Michel’s son, Alois, said: “An Indian court has recently rejected my father’s appeal for release from prison, even though he has already served the maximum sentence of seven years for the charge on which he was extradited. I have requested the UK government to approach the International Court of Justice because India is not respecting its obligation to the rule of law.”
Indian courts have ruled that Michel still faces charges, including forgery, which could carry a life sentence. He was extradited from Dubai in December 2018 and arrested by the CBI and Enforcement Directorate (ED).
The ED claims Michel received £25.8 million in kickbacks from AgustaWestland, allegations he denies. According to investigators, the helicopter deal signed in February 2010 caused losses of around £341m to the Indian exchequer.
In February this year, the Supreme Court of India granted Michel bail in a CBI case, followed by a Delhi High Court order granting bail in the ED case. However, he has yet to furnish bail bonds. His family fears that accepting bail terms may lead to further charges.
WORKERS at the Radisson Blu hotel in Canary Wharf have cancelled a planned six-week strike after reaching an agreement that met all their demands.
The group of housekeepers, most of whom are migrant women from Nepal and members of the United Voices of the World (UVW) union, were due to begin industrial action on Sunday (31). It would have been the longest hotel strike in the UK since 1979, a statement said.
The dispute involved staff employed through the outsourcing company WGC, which provides facilities services to several Radisson Blu hotels in London.
Following negotiations with UVW, WGC agreed to increase pay to the London Living Wage of £13.85 per hour, issue back-payments, reduce workloads to 14 rooms per day, and reinstate guaranteed 40-hour contracts.
In response, the workers voted unanimously to call off the strike. The decision follows earlier strike action on August 9, which was the first hotel workers’ strike in England in nearly five decades.
Doris Selembo, a housekeeper at Radisson Blu for over 30 years, said, “The whole team stood together and achieved this win. We are both excited and grateful — excited for the future and grateful because we are with UVW, and WGC are finally listening to us.”
UVW general secretary Petros Elia called the agreement a significant milestone. “This is the first victory in the hotel sector in England since 1979. Our women members have proven that when workers organise, stand together, and fight, they win. They have made history," Elia said.
The workers’ initial demands focused on secure contracts, fair pay, and manageable workloads, issues that the union and workers say had long been ignored.
The resolution brings an end to the dispute in a sector where outsourced workers are commonly employed under less secure terms and lower pay, the statement added.