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Boohoo secures new UK warehouse deal

Boohoo (LON:BOO), the online fashion brand, confirmed on Friday that it has signed a long-term lease for a warehouse in Daventry in a move that will improve its storage capacity.

The deal will bring 500 new jobs when the new warehouse opens for business, which could rise by a further 1,000 jobs as things develop.

The site, formerly belonging to Arcadia, will provide net sales capacity in excess of £4 billion, according to the fast-fashion brand.

The news comes as Boohoo strives to improve its public perception by improving its standards across its supply chains. This is following the firm facing backlash last year over how much the group paid its staff and poor working conditions.

The AIM-listed firm also said the new warehouse is scalable and as such it is expecting to invest in excess of £50m of the coming years to further increase its capacity.

The warehouse will start being used in Q2 of the current financial year which began on March 1.

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