Former Asos director Peter Williams is to join Boohoo as chairman as the etailer gears up to float later this year.
The appointment of Williams, who was senior independent director at Asos for eight years up to December 2013, is likely to be confirmed in a statement indicating the etailer’s plans to list, sources told Sky News.
The hire will be seen as a coup for Boohoo, which is hoping to woo investors looking for a company with similar characteristics to Asos.
Boohoo is expected to be valued at about £500m. The most recent available figures show Boohoo reported sales of £67m in the year to February 28, 2013, up from £29m in 2012. Pre-tax profits rocketed from nearly £250,000 to £3.3m.
Williams holds a range of executive and non-executive positions including non-executive director of gaming firm Sprtech and chairman of Without Prejudice.
He has also worked as finance director of Selfridges, chairman of JJB Sports and Blacks Leisure Group.