Manchester based online fashion retailer Boohoo has announced that it would invest £500 million pounds in the United Kingdom over the next five years, creating 5,000 jobs and increasing its ability to meet rising demand at home and abroad.
Retailers are in a race to strengthen logistics to improve delivery fulfilment after the acceleration in online shopping caused by the pandemic.
Boohoo said its growing global appeal, with half of its sales coming from overseas markets, such as the United States and Australia, meant it needed additional warehouse space and to invest in technology to increase efficiency.
“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,” Chief Executive John Lyttle said.
In February, Boohoo purchased the Debenhams brand out of administration for £55 million and the Dorothy Perkins, Wallis and Burton brands from the administrators of Arcadia for £25.2 million .
