Last checked at (Sharecast News) - Boohoo has acquired a fourth warehouse to support its expansion, giving the fast-fashion group sales capacity of more than £4bn.
The company said it signed a long-term lease on the site in Daventry in Northamptonshire. It will go into operation in the second quarter of Boohoo's financial year and add to existing warehouses in Burnley, Sheffield and Wellingborough.
Boohoo said it expected to invest more than £50m in the site to increase capacity. The deal will secure up to 500 jobs and create as many as 1,000 jobs as capacity increases.
The company has picked up brands such as Karen Millen, Debenhams and Dorothy Perkins in the past year to add to existing logos that include PrettyLittleThing and Nasty Gal. Its acquisition spree has coincided with efforts to improve its supply chain after a scandal over treatment of workers.
"The new warehouse is scalable, increasing capacity and offering the group operational flexibility as it grows," Boohoo said. "In aggregate, these sites will give the group net sales capacity in excess of £4bn."
6 Nov 2023 16:30
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