US investment firm T. Rowe Price, which has more than 11 per cent stake in British online fashion and cosmetic retailer ASOS, has taken a 10 per cent stake in UK-based online fashion retailer Boohoo to turn the Manchester-headquartered group’s third largest shareholder. Jupiter Fund Management has the second most shares, while founder Mahmud Abdullah Kamani holds the maximum.
Boohoo and ASOS are rivals. Founded in 1937, T. Rowe Price is a publicly-owned firm headquartered in Baltimore, Maryland. The business has 16 international offices servicing clients in 47 countries.US firm T. Rowe Price, which has more than 11 per cent stake in British online fashion and cosmetic retailer ASOS, has taken a 10 per cent stake in UK online fashion retailer Boohoo to turn the Manchester-headquartered group's third largest shareholder.Jupiter Fund Management has the second most shares, while founder Mahmud Abdullah Kamani holds the maximum.#
Reports about poor supply chain practices a few months back led Boohoo shares on a roller-coaster ride. British media reports say the arrival of T. Rowe Price could help improve this downward trend.
Fibre2Fashion News Desk (DS)
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