PrettyLittle Thing CEO isolates in luxurious Dubai home after taking taxpayers' money to furlough 86 staff
PrettyLittle Thing founder Umar Kamani has left his employees dependent on a government scheme amid the coronavirus crisis as he enjoys a lavish lifestyle in Dubai. Despite being worth $1.24 billion, the 32-year-old has furloughed his Manchester staff and is using taxpayers’ money to pay salaries to them.
As per reports, Kamani is in isolation with his model girlfriend Nada Adelle in Dubai while putting his 86 staff members at his Britain-based company into furlough during COVID-19 lockdown. The billionaire is one of the CEOs of the fashion company, which was launched in 2012, and which has decided to use the government's scheme to pay for his employees.
The government’s furlough scheme is actually for those businesses that are facing closure amid the pandemic. It uses taxpayers' money to pay workers 80 percent of their salaries that is up to a maximum of $3,106 (£2,500) per month. Recently, Victoria Beckham came under fire for using the scheme to pay furloughed staff at her fashion house.
PrettyLittle Thing issued a statement on the latest development, with a company spokesperson saying: "We are entering an unprecedented period and while it is too early to quantify the future impact of Covid-19, we are taking measures to position the business to protect jobs going forward and keep the business on a strong financial footing in what we expect to be a temporary environment.
“It is important to note that Pretty Little Thing staff are still being paid their full salary as a result of the Government furlough initiative and the company's decision to 'top-up' salaries so they receive 100 percent of what they would usually be entitled to each month."
The spokesperson also said that some of the staff members of the brand would be returning to work on Monday, May 4. "PLT is abiding by the government’s desire to keep as many people as possible employed through the job retention scheme. We are pleased to be in a position where a number of employees will be back in work from today. PLT will continue to monitor staff on the furlough scheme over the coming weeks," the spokesperson added.
However, it is quite clear that PrettyLittle Thing is nowhere close to facing closure or its founder incapable of paying salaries to his staff as the company reported a turnover of $465 million (£374 million) in 2018, just six years after its launch.
Besides, Kamai seems to be loaded because in the past few years he has bought a fleet of luxury cars, including two Rolls-Royce Phantoms, a $ 373,209 (£300,000) Lamborghini Aventador, a $1,14,450 (£92,000) customized G-Class Mercedes and a high-end Range Rover.
The founder also leads a very high life as he often travels by private jet to socialize with A-listers like P Diddy, Jennifer Lopez, and Denzel Washington and Kylie Jenner. In the past, he and his brothers, Adam and Samir, were also seen partying with top celebrities like Gigi Hadid and Jayden Smith.
Not only this but despite the virus crisis, Kamani has made $6.2 million (£5 million) from an investment in a company that is developing a new COVID-19 antigen test. As per reports, he spent $1.24 million (£1 million) on shares in Avacta Group as he paid 18p a share for stock in the company. And since it is believed that the company will successfully develop the antigen test, Kamani’s investment has earned a huge profit throughout April.