boohoo group plc Update on warehousing (9060U)
April 09 2021 - 1:00AM
UK Regulatory
TIDMBOO
RNS Number : 9060U
boohoo group plc
09 April 2021
FOR IMMEDIATE RELEASE 9 April 2021
boohoo group plc
("boohoo" or "the Group")
Update on warehousing
boohoo, a leading online fashion retailer, is pleased to
announce 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 GBP4 billion.
The new warehouse is scalable, with the Group expecting to
invest over GBP50 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.
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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END
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