boohoo group plc (LON:BOO), a leading online fashion retailer, has announced that following exchange of contracts, it has agreed a long-term lease for a new warehouse in Daventry, due to become operational in the second quarter of the Group’s financial year. This site will support the Group’s expansion and adds capacity in addition to its existing facilities in Burnley, Sheffield and Wellingborough. In aggregate, these sites will give the Group net sales capacity in excess of £4 billion.
The new warehouse is scalable, with the Group expecting to invest over £50 million in the coming years, increasing capacity and offering the Group operational flexibility as it grows. The deal is expected to secure up to 500 jobs and in the future create up to a further 1,000 jobs as capacity increases at the site.
boohoo group is an inclusive and innovative global brand targeting young, value-orientated customers, pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7.
In 2017 the Group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing, and free-thinking brand Nasty Gal. In March 2019 the Group acquired the MissPap brand, in August 2019 the Karen Millen and Coast brands and in June 2020 the Warehouse and Oasis brands, all complementary to the Group’s scalable, multi-brand platform. In January 2021, the Group acquired the intellectual property assets of Debenhams, with the goal of transforming a leading UK fashion and beauty retailer into an online marketplace through a new capital light and low risk operating model. In February 2021, the Group acquired the intellectual property assets of UK brands Burton, Dorothy Perkins and Wallis.
