Boohoo Group, a UK-based online fashion retailer, has announced its investment programme of £500 million across UK over the next five years to meet growing demand. This plan was reported in Boohoo’s ‘Economic Impact Report’, published this week presenting the current and historic gross value added (GVA) that Boohoo contributes and has contributed to UK’s economy.
The report identified the scale of the group’s contributions, including: in the financial year 2020/21, the group’s operations added £559.4 million in GVA to the UK, supporting an estimated 8,050 Full Time Equivalent (FTE) jobs; the GVA figure (£559.4 million) equates to around 4.4 per cent of the total UK clothing and footwear retail sector; since 2009, the group’s operations have added almost £2 billion in GVA to the UK’s economy; and for every job directly created by the group, a further 1.7 jobs are created in the wider economy
The investments will help the company continue the incredible growth it has experienced since launching 15 years ago, expanding from a single brand in 2006 to…
