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This was the quote I saw which I thought was revelant to Lsai. (just duno why Boohoo didn't out right but it directly instead)
"Also, it eyes to invest in smart IT solutions to make the industry more efficient."
UKTN (UK Tech News)
boohoo
Manchester’s boohoo to create 5,000 jobs with £500M investment
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STAFF REPORTER
NEWS 13 August 2021
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UK’s leading online retailer from Manchester, boohoo group plc has recently published the ‘Economic Impact Report’ that details the current and historic gross value (GVA) it has and will continue to contribute to the UK economy. Also, the report outlines the significance of the group’s activities and operations.
£500M investment
boohoo has chalked out its plans to invest £500 million in the UK for over five years to come in a move to create as many as 5,000 new jobs to meet the ever-growing demand both in the UK and worldwide. The investments will help the company continue the incredible growth it has experienced since its launch in 2006 (founders Carol Kane and Mahmud Kamani) that has helped it grow from a single brand to a group of 13 world-class brands today.
It is claimed that 50 per cent of the sales come from overseas especially USA and Australia. To meet this demand, it plans to purchase an additional warehouse space. Also, it eyes to invest in smart IT solutions to make the industry more efficient.
“The growth this business has experienced over the last 15 years has been phenomenal. It has not been without its challenges, but it is right to celebrate the significant contributions the company makes to the towns and communities where we operate. The investments we have planned will help us to continue our growth, increasing our customer base both at home and abroad, adding even more value as we do so,” said CEO John Lyttle.
“All of this has only been possible because of the amazing people who form our boohoo family. I am so proud of the way they rise to every challenge and I look forward to growing together as we cement our position as leaders in global fashion e-commerce.”
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Contribution to UK economy
As per the report, in the financial year 2020/21, the group’s operations added £559.4 million in GVA to the UK, thereby supporting an estimated 8,050 Full Time Equivalent (FTE) jobs. The GVA equates to around 4.4 per cent of the total UK clothing and footwear retail sector. Since 2009, the boohoo group’s operations have added almost £2 billion in GVA to the UK’s economy. For every job created by the group, 1.7 jobs are created in the wider economy.
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Prince Harry
BetterUp, the coaching startup that hired Prince Harry just raised $300M
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MEGHA PAUL
FUNDING 08 October 2021
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BetterUp, the mental fitness coaching platform wher
So verifiy is what Mr boohoo wanted, I read an article (i will try find it again) in Aug and there was a quote from their CEO bout Boohoo investing in small It companies.
Im glad to see a little bit of action and obviously it was dead weight so get rid along with the two freeriders.
Lsai have approx £4.5m in bank and minimal expenses with minimal staff and billionaire backers- what's not to like!?
Anyone