Boohoo raises £50m for new automated warehouse
The pure-play fashion retailer will put the money towards an automated ‘super-site’ of c.600,000 sq ft, which is intended to provide boohoo with over £2 billion of net sales capacity.
This is in addition to the estimated £1bn net sales being provided by the extended Burnley site.
The land acquisition of the new site, together with the construction, is expected to cost c.£150 million over three years to FY20.
Boohoo disclosed in a trading statement that growth rates are accelerating the need for more warehouse capacity.
