REG - boohoo group plc - Update on warehousing
RNS Number : 9060Uboohoo group plc09 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 £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.
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 Broking)
Tel: +44 (0)20 3829 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 / Toto Berger / Sophie Wills
Tel: +44 (0)20 7466 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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