boohoo group plc UK Supplier List and Sustainability Strategy (4139T)
March 25 2021 - 2:00AM
UK Regulatory
TIDMBOO
RNS Number : 4139T
boohoo group plc
25 March 2021
FOR IMMEDIATE RELEASE 25 March 2021
boohoo group plc
("boohoo" or "the Group")
Publication of UK Supplier List and Sustainability Strategy
boohoo is pleased to announce today the publication of its UK
supplier list, meeting its transparency pledge to publish it within
six months of the Independent Review produced by Alison Levitt QC
(the "Independent Review").
The Group's consolidated UK supply chain list is the result of
extensive mapping and auditing work, introducing changes to the way
it works with its suppliers in order to create stronger
partnerships and more sustainable business practices. The Group has
been working with independent auditors Verisio and Bureau Veritas
to carry out unannounced visits to suppliers and over the last
eight months the majority of suppliers have been audited twice.
Suppliers will continue to have their operations and standards
monitored frequently to drive long-term positive change.
Alongside this, boohoo is pleased to announce the launch of its
new Sustainability Strategy; UP.FRONT Fashion Ready for the Future.
UP.FRONT establishes bold targets against priority issues in three
key areas; smarter manufacturing of clothes; better terms for
suppliers; and action in responsible business practices to reduce
our carbon footprint.
Sir Brian Leveson PC, who is providing independent oversight of
the Agenda for Change programme, has submitted his second report to
the Board and, in line with the Group's ongoing commitment to
transparency, this has today been published on the Group's website.
Sir Brian notes that the depth and detail of supplier audits have
dramatically changed the way the industry is run in Leicester and
the determination of boohoo to embed a new way of working which,
despite a number of acquisitions in recent months, remains its top
priority.
The Group will provide a further update on its Sustainability
Strategy at its full year results on 5 May 2021, with the
publication of its Sustainability Report to follow alongside its
Annual Report and Accounts in May 2021. boohoo intends to publish
its global supplier list by 25 September 2021.
John Lyttle, CEO, commented:
"This is the not the end of a project for us at boohoo but the
beginning of a new way of working with our suppliers. We are
driving positive change in the industry and want to play our part
in rebuilding a vibrant manufacturing base in Leicester, one that
offers good employment and great prospects for the workers and the
industry in Leicester as a whole.
The publication of our UK Supply Chain List marks another step
on our journey towards greater transparency and embedding positive
change, not only in our own organisation, but through the wider
network of businesses that make up our supply chain. Through our
Sustainability Strategy we are committing to ambitious targets
across production, supply and governance to ensure the business is
ready for the future."
Enquiries
boohoo group plc
Neil Catto, Chief Financial Officer Tel: +44 (0)161 233
2050
Alistair Davies, Investor Relations Tel: +44 (0)161 233
2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289
5520
Mark Mochalski, Investor Relations Tel: +44 (0)11 8328
7068
Zeus Capital - Nominated adviser and
joint broker
Nick Cowles/Andrew Jones (Corporate Finance) Tel: +44 (0)161 831
1512
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829
Broking) 5000
Jefferies - Joint broker
Philip Noblet/Max Jones Tel: +44 (0)20 7029
8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth / Kim Looringh-van Beeck Tel: +44 (0)20 7466
/ Toto Berger / Sophie Wills 5000
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo 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.
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