Boohoo Group plc (LON:BOO), a leading online fashion retailer, has announced 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.